>> my dear friend, michael pento, i would say three things. number one, lehman brothers. that was the big catalyst. we were already in recession at the time. we didn't know it. three, the job market was lousy. we were losing employment back in 2008. now we're actually -- we've seen an acceleration in employment. jobless claims are at a four plus year low. the economy is much healthier. it could with stand those higher prices. >> joe, let me ask you something else. i know some of the arguments. what about the role of ultra cheap natural gas and what about the role of the very mild winter which has cut utility bills? in other words, is there an offset? one part of the energy portfolio, gasoline is rising a lot on the heels of crude, but the other part of the energy portfolio for home heating and local utility bills is actually falling. is that a wash? is that what you are betting on? >> larry. >> is that a hope, a prayer? is that a triumph of hope over experience? >> you read my note. you led me into it perfectly. thank you. the lower malgas costs combined with the fact tha