So we were here, we were building budget, there were some desiccitudes, but mostly you were at a steady state. We predicted a drop of this magnitude which would have been dramatic. We did not predict one of the third worst drops in the last 75 years. I think we did not predict all the things that happened the last four months. Tariff war, global trade crisis, stock market collapses. So that was, I think, why we were conservative. (32:55–32:59)
CLAIM
Asserts that the economic drop was one of the third worst in 75 years, which was not anticipated.
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