he is the from strategic intelligence, the editor there, jim rickards. money, a.i.s on these outcomes, market reaction, obviously with our own election in november. >> yes it is a big topic, charles, my former boss, charles, the second greatest banker of the 20th century, than peer point morgan, capital goes where it is properly treated. investors get tax policy, capital controls, exchange rate stability, growth potential, any other headwinds to growth or pro-growth policies and that's where the capital goes. right now it is leaving china. it is going into india, although there was that correction that, you pointed to just in the last 24 hours as the modi vote came in on the whole india is still attractive destination for capital. mexico looks unfriendly. it is kind of that simple. as long as you don't put capital controls on capital will go where it is welcome. charles: there is message there for our viewers come november. i saw a chart, i want to get your you thoughts on it. actually this is, we've got the s&p 500 which is the yellow line. it obviously has surged,