we had the people bank of coin s bank of china, saying there has been no bad earnings news, it is a re-adjustment jeremy, i hear you there, but tell me what the real effects are going to be on the economy then. >> certainly, people talk about. we had lennar's announcementes in earnings. we saw the home builders really get hit. think about it. later in your program, you will have the case schiller indices. it will be an insurmountable problem. for any long-term stand point, it is still so low for individuals, so my feeling is that, you know, the interest rate situation is still very accommodative for the markets and corporate earnings. >> professor siegel, you reference the housing information coming out today, but all of that is historical. the case will show us what happened with housing prices in april or march. it's not current information, so how do you feel so bullish about looking in the rear view mirror as i said earlier, not looking forward, there are a lot of things that happen around the world to me look fairly scary. >> well, again, you might be thinking of going into china, which the