let's get into the thick of it i had peter bookfar on, we discussed cost of living to many humans is experience when the fed talks about inflation. the fed tries to seat inflation, the average person getting seated to pay for everything i understand the notion that you can have extreme levels like the '70s and '80s. the problem is the effect is way too extreme with effect to cementing this policy forever, even though there are many large economies like japan who have tinkered in these areas and failed, and failed and failed over decades so what's the answer all i know is that the signals from central banks continue to get murkier and more smoky, especially as you ramp up globalization, we're holding hands together for contraction and expansion. seems to be more of the former at this point. let's dig into the balance sheet. there's something about the balance sheet that reminds me of analogies we had with regard to stocks, when the fed's presence was more stimulative remember when good news is bad news, bad news is good news. with respect to the significaal the balance sheet closer to