with the financial crisis the housing bubble that led to the gfp, it was a severe. once you have this brief setting of collateral of crisis it was clear crisis. that's not the same story certainly in the u.s. when it comes to sovereign debt when you think about the collateral. when you think about the u.s. and the dollar being the reserve currency. it's more thinking about how this high-level debt and high level of interest rate they go with it feeds into the economy and shifts what we may be seeing in terms of economic growth. so far i think were still in an environment as michael sat around this physical transfer. the economy has seen a good amount of support coming out of the covid period from the time this one-two punch of fiscal stimulus, with monetary stimulus. monetary side pulled back but the economy has been able to withstand high-level interest rates remarkably well. you could argue part of that might've been probably was because you had a lot of fiscal support. you have those tax transfers right to consumers. you had chips act, a greening of infrastructur