anergy, there is a lot going on common and and it is creating a lot of activity. finally, when the central bank has the ability to drive short- term interest rates below long- term interest rates, they are teaching the incentives for taking risks, and they are having to do this because in the wake of the financial crisis, everybody has lost their nerve, and our confidence in the future has changed, so it requires so little bit of nudging to get people to invest in the future, and that is what we are beginning to see, and you cannot dismiss the power of monetary policy actions, and the federal reserve has made it really clear what their goal is. their mandate is maximum employment subject to keeping inflation down, so as i think of what is ahead of us, i imagine we are slowly getting back on our feet. we have a very slow record of doing this, and those who believe this is a new normal, frankly, there is no history to this, and that is why i am optimistic. we are going to see more signs of optimism. one quick note about this. we all know california is struggling, bu