One man's debts are another man's assets.
Uh That means interest rates have got to be high enough that they are a good
return for the creditor without being so high that they are bad for the
debtor. And so you see these swings and cycles in which it's great for one time
for the debtor and vice versa. So we went into an insanely free money
environment in which interest rates were nil and real interest rates, bond
yields went to minus 1.7%. Ok. So which side is it good for? Ok. Ok. And then
we go through this other swing and in, in an insane swing all through this,
we've increased our debt to GDP. What we did is we particularly transferred
the government got into a lot of debt and the government then wrote so that
they could write a lot of checks for a lot of things. Ok. So what happens is
as debts rise relative to incomes that are supposed to support the debt, it
becomes a more and more difficult balance. So we've reached the point we
are reaching the point in a classic debt debt cycle, you reach the point
that you have to borrow to service your debt.