so oftentimes you'll hear stocks trading on a price to earnings multiple. that sounds like goop, but is the stock price justified by the earnings that you can see going forward. it the going forward part that is important. if you believe that amazon will continue to make money hand over fists or apple will make money hand over fist, then you're basing it on future expectations that that business will continue and worth buying. contrary to that, if you're looking at oil and think is supply is limited and not as much out there, you weigh that and say, well, if it's going to be in scarce supply, i'm going to bid it up or the idea that it should be bid up. that has been happening. not exclusively because of production in this country. other events that have been very, very big and have obviously moved us in a way that no republican or democratic president could deal with. the reality though is the market is saying we have our doubts about the future. in this case, when they have