Like nets. I don't think that's the case at all like not. I'm not necessarily optimistic about the world. But i do think that there's a couple of factors we need to think about. I don't think the cycle is anything like the last first of all the american household has the leverage. This is like. Why did we have secular stagnation. Why did we have below below trend growth in the last cycle. And why did. Ceo's choose to buy back their shares instead of investing gap. We'll because the american consumer was like. I'm out i'm not gonna play anymore. The american consumer took all their toys mental rights for a decade. We had this hustle leverage in the. Us that is over. The data shows it. American households are not massively leveraging and his agassi problems. Consumer confidence has come down because prices have gone up because of supply issues of fundamental american hassles. A flush with cash and have above average saves. I do not expect us to have a de leveraging. We can quibble can debate. Whether w leveraging fine there won't be delivering and quite. Frankly that's all. I need to know to send this cycle. Is meaningfully different from us soil. Any i just need the light to be flat. I don't need backup. Just don't go back down. Jerks leverage is presented as the first second issue is a stereo. Let's not forget. The tea party forced president obama to come to the table negotiate in. Cut the budgets. So we had five years of self-imposed starting. Us we're not gonna fighters self-imposed stared Clear on this whereabouts pass another way. Four and a half trillion inept terms last. But like we're at the point where it's like but in net terms markowitz only do truly We were so desensitized. Capela what's another trillion but not austerity you next year next year. There's a fiscal cliff. It's a product of math blah blah. But look look from last cycle where there was actual sterry would did the g. In the equation government was negative. It was a headwinds zero. She also leveraging garment not deliver jing. You've got monetary policy sitution which is trying to pretend it's orthodox but i would argue. It's already behind her..