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betteryou begin to find entry levels, perhaps we can get back to normal.ut what we don't hear is our clients panicking. there is not a lot of money jumping in at any particular point in time. china,much of this is how much of this is oil, and how much is this something else? are: those two things alone in which you have a very interesting event are not going to cause a global intervention. francine: a few weeks ago, you said we should actually be much more careful so we avoid repeating 2008. repeating, itding was a time of financial crisis and a bear market. and we have the same conditions today. but the source of this inilibrium is different 2008. -- is the subprime different. prime8, it was the sub crashes. this year, it is china, so it is not comparable. because theythis are not doing how we would think or deflation? george: it is deflation and over indebtedness over the chinese economy. the total social debt is down 300% and maybe actually might be up to 350% if you take into account the external event. so it is serious. >> welcome back to "bloomberg b