Data this morning really disappointing imperative in australia, for example, building approvals unexpectedly dropping. What we have overall, stocks declining, bollings quiet low web holidays in japan, south korea and thailand not helping. The violence in ukraine continues. The government in kiev admitting there is essentially now a civil war going on in the country. How big a risk is this for the west . This is an acting government. They are supposed to be having elections. There is not a lot of authority and there are reports about Security Forces defecting in the east. They are facing pretty wellarmed protesters. It is a very elegant situation. We have seen an escalation in the violence. They took that agreement in geneva and ripped it to shreds as soon as they left. No one seems to have a solution. Sanctions seem to be hurting russia but i suspect it will take a long time before it hurts enough before the russians will reconsider a push in the ukraine. The u. S. Always calling for c