paces of recovery and so we get some help from residential construction and we also get help from securelier spending this is what i'm showing here and this is the debt service ratio and it's an interesting concept if says if you add up my mortgage payment and car payment and any other kind of consumer debt that i carey and how much of that is a% of personal disposable income and where we are at relative total whereas 30 years that service ratio is about as low as it's been during anytime at that period and is there any reason that the fed tries to lower interest raid and rate and drive the cost of housing and if you look at the graph on the left hand side the blue portion is the household real estate value and not surprisingly it's down and hasn't really come back much in the last couple of ears and the rusty color on top is the financial assets and we have retraced a lot of the lost rounds in the recession people's 401 k's have come back and so in 2013, we are probably back to pre-recession level of household wealth respondent right-hand side there, you see the retail fails and personal nu

decedent growth in consumer spending and that is what this is showing here may be two% growth in securelier spendings and so you get some help from construction sector and consumer spend something and what about businesses what role do they play in this, gdp growth in the future to the expend it has and this is a look at cash on hand and the point point is that businesses are swim swimming in cash but not spending it. and this is a look at business spendings and what you find is that in the early part of this recovery when consumers were you know, hiding under their beds and you know worried about the recession it was businesses that were really spending rather aggressively they had just laid off 8 million people and looking for ways to become more productive through the implementation of the better use of it can technology and capital investment and this period right after the recession, businesses were spending a lot and sort-of loss a lot of mommentum here and not completely convinced that they have lots the way and they are not going into hiding either. this line the biggest take away l