i bring in ned davis research, their chief u.s. strategist ed clissold. ed, let's start with what you're calling a goldilocks environment, strong growth, low inflation, again one of your amazing charts. i love the charts you guys put out. i will say to me, there are more signs of slowing growth and high sticky inflation, particularly relative to the past 40 years. >> well, thanks, charles. yes, what this chart is showing is, we talk about things like gold goldilocks or stagflation. we're going to quantify it. so you look at economic growth, is the economy growing faster than potential gdp which looks at productivity growth and labor force growth? you then you look at inflation is inflation above or below the five-year average. rather than guessing where we are we just use the numbers. right now we're in this goldilocks environment where the economy is growing faster than potential and inflation is lower than the five-year average. now the way we do things at ndr, we're they're until we're not. we're not trying to forecast whether it will change. we'll cha