camp, joe zidel in case you guys are wondering. joe zidel. >> we're not talking about a rodney dangerfield movie. >> it doesn't mean you go into a bear market if you don't cut. >> i don't want to say a bull market because we're not going to flip the switch like that, but in an environment if you believe that easy money is the key to a stock rally of some sort, it will bring the s&p 500 to new highs, does the same apply to markets around the world? >> it does >> so global synchronized weakening -- >> it's already -- >> -- is a buy signal for global stocks >> what's the data to support that if you look at the global pmis, they're actually where they were -- they're below where they were in 2016 at the low and near where they were in 2011. the citigroup economic surprise index for the g-10 or major economies is inflecting and starting to turn higher. >> okay. so we're having early signs of that in the u.s. because the 2-10 spread is so flat, you need to bring the 2 down you need to resteepen the curve maybe back to 30, 40, 50 basis po

wow, what's old is new joe, thank you joe zidel. karen, what do you make of that? >> well -- >> makes sense. >> well, you're talking about what's bad news is good news, right? he always talks about -- >> i bring it up -- >> the ecb and policy and that's is his thing it's an interesting argument i'm bullish as well but i think it's time to buy protection. >> i would agree with that the one thing if i push back on any of it, the money that's gone out of the stock market, demographics might play a role here you have a whole swath of baby boomers who got frightened by the sell-off and may not come back into the stock market so if you want to take the bearish view, that's probably the bearish view but again, until central banks decide they no longer want to print money, then the stock market has the potential to go up. >> i still think that if there's any kind of deal, any kind of progress, we continue to move to the upside but that big hiccup, when that comes along, we've got an issue. >>> janet yellen speaking to our own steve liesman today and there's something she s