Billion people. Tom it is nothing more than a states rights issue in the united states, the tension between the federal government and the 50 states. The size of the fiscal stimulus is extraordinary, way more than what we saw from president obama in 2009. Just as importantly, the impulse of the fiscal stimulus over the short term is truly at a wartime level. Francine we are also getting some e flow figures. This is the month of march, german business confidence, and the index is 86. 1 instead of the preliminary 87. 7. March, i dont know whether it still seems quite strong. I know we will speak ahead of the if a in just a second. It is not having a big impact on the so the ifo march is holding on. If you look at current conditions, 93. This was for february, so it is backward looking, it does not take into account a lot of what we saw. It will be interesting to see what the ifo president expects for the future. Tom lets get to the data right now before we get started. They did it is sim