what they're worried about today is slow growth, receson and risk and the fact is over the last couplears we put a lot of stimulus in the economy, as nouriel said, we got the economy growing again but it's like pumping air into a balloon. we didn't fundamentally solve our structural problems at at some point we have to do that. a lot of this is about what kans called an million spirits. in washington there's no confidence. no confidence in our leadership, quite frankly, in congress especially. in confidence in europe certainly about the leadership there. nobody knows who's in charge of europe. angela merkel is hiking in the italian alps while europe is melting down so people are scared and when they're scared they run and you don't know where they stop running. 2008 was not that long ago. supreme not forgotten 2008. >> rose: what would it be necessary to restore confidence? >> i think it would require a little of what nouriel said. a sense of action on the part of leaders that made sense. we all agree we have a fiscal problem. as nouriel said, it's something we should deal with in the