gary shilling with us, gina martin adams with us.do a trump redux. would that shocked the equity market? >> over the last year we have learned one thing and that is that political events are difficult to protect. on stocks is equally difficult if not more difficult. with brexit and the trump election, it is pretty much the majority of forecasters suggesting it would be difficult , create difficult condition for the economy. so the truth is that stocks are absorbing these changes and the political landscape pretty well. i can tell you have economic ramifications occur. stocks will generally perform well as long as the economy is improving. stocks have actually rallied. so why don't we terre battue playbook and suggest a le pen win would be different? don't fight the fed is a lot more important of a mantra for stocks than any other sort of fiscally oriented policy. driver, i think stocks can absorb a lot of policy risk overtime. stocks rose through wartime .eriods and peace time periods what really matters is the level of real interest