as far as the mark set concerned marma maria and scott this is guilty until proven innocent. >> marc faber, the editor of gloom, boom report thinks the stock mark set going down? don't let that get out. s&p is up over 11 on the year. if mr. faber thinks it will weaken, this is an bold call. there is correction. steve, you're a market historian. every year there is some point where the s&p drops 7, 8, 9%. norm is about a 9% drop from where we end on december 31. i wouldn't say some modest collection in the middle of the year would be surprising. >> there has been some kind of run but right now we are in the mood where every little rumor or extension of operation twist will make the market run one way or another. so they will exacerbate any little rumor into what they can do with it that day. >> guys, ton of fed speak this week. bernanke tonight, there is kwai afterwards, and janet is speaking wednesday, vice chairman, can sometimes be an advance guard for the chairman. i've written a piece about this. >> then ben bernanke. >> i will be there too. >> thank you very much. thanks, everybody. s

we talked to marc faber earlier in the show. he is dr. doom.es over the next decade there's going to be hyper inflation and he was actually or particular lating a view that equities, or investments more broadly may go down 50% over the next decade. i wanted to get your response. >> i'm not going to respond on the markets but on the point of hyper inflation, it important to remind you your viewers and you guys that one of the most important thing we've done in our recent history was issued a formal statement of strategy. we made it clear we were targeting a long-term target of 2% in terms of price influence. this is something that ben bernanke has wanted for 15 years. it's something the entire committee with one be a sense supported. and the hawks and doves, as a hawk i was comforted by it. we made it clear that we couldn't put a number on a target for employment or unemployment and that's because there are, quote, nonmonetary factors involved. we know we have a greater impact on price ability than we have on job creation, though we play an impo