i think it will take verio, very long time to normalize. investors are still quite optimistic and that is good news. we will have qe2 infinity or zero rates to infinity, and the only point i'm trying to make is that it is legitimate to consider a good news because the world's upside is irrespective of the economy. the fact that the central banks are telling us, no, we should raise interest rates, because as a central banker that is our credibility at stake. we cannot keep the fed balance sheet lost forever. but we can't, because the economy is too fragile. inflation pressure, deflation is too high. that is telling us that -- francine: they are stock. didier -- are stuck. do you think they should focus on inflation? they don't have any power over inflation -- didier: what they need, what we need, what every private or public sector entity needs, is nominal growth. growth plus inflation. we are failing on both sides. but surely the oil price is not helping, and you can build an optimistic case saying that this is temporary and the oil price w