the join executive counce im, or jec, co-chaired by second gould and me devotes each part of the bimonthly meeting to reviewing the process and understanding the ongoing actions towards achieving our goal of seamless transition from service members to veterans. similarly, the quarterly meeting conducted jointly by the secretary of defense and the secretary of veterans affairs whip senior leaders to drive and oversea progress towards the stated goals. one of these efforts is ides. ides delivers a more service member centric design a simpler process, more consistent evaluations and compensation. easier transition to veterans status, peace advocations and established relationship between the service member and v.a. prior to separation. it also provides increased transparency through better information flow to service members and their families as well as a reduced gap between separation or retirement from service and receipt of v.a. benefits. the streamlined evalue ace system with service members receiving a single set of examinations conducted according to v.a. examine ace protocols. propose

or something of that variety. if you get your consensus and it has to be super weak, the fed is not going to do anything, but the market is going to before the jec. that will be when he will do more easing or not. unless friday is a blowout. we hear from bernanke. >> what do you make of the move? would you be shorted? what was going on? >> i think karen, they will wear a 125 today. with the pressuries and guilts. all the long duration bond marks and those that are perceived to be safe are moving together. as long as there is concerns about europe and germans, they will rally to the low levels. they will get sucked in with it. >> with productivity levels at historic levels and balance sheets never looking better. why do companies have to -- if they haven't hired yet, what will force them to hire now when the world is more opaque than it's been. >> of the last year and the payroll numbers show 1.8 million in jobs. the last year has slowed. even f we are in an environment where we are growing, i would say you are looking at rough roughly -- it is a constructively backdrop for equities. you have to really assign a low multiple to get equities back t