and this is going to be decided in the voting booths in dusseldorf, and look, this italian election saysnd the austerity has been important. there's been structural forums that need to take place. but we need to focus on growth now. you're seeing this in italy. they're in a growth quagmire. >> are you buying anything from europe? >> yeah, i'm buying italian and spanish bonds every time they sell off. the ecb the day before the olympics started, came out and said we're going to buy these bonds as they sell off so they gave you a put to the market, so every time they sell off they seem to be a pretty easy place to put capital to work. and as those rally, spanish banks, italian banks, european banks are going to rally. and so i'm bullish on a -- >> you have a bullish call? >> it's not because i see -- >> absolutely. if you're running money, that's right. from the real economy perspective, it's going to be a long road. >> real economy versus the traders. >> everyone worries about we're going to have social unrest and social upheaval. in greece the single worst place, the point of the spear,