is that working? that is the statistic you want to watch for to see if it is. ron, your initial thoughts on what has been a somewhat tumultuous week for the markets. what is your reaction to the job reports? so global manufacturing is bordering on recession. in part because of the trade war ongoing between the united states and china. it is actually having the effect of catching europe in the middle. europe is caught in the crossfire of this. we ve seen manufacturing contract in most the world. the u.s. is just above the contraction line. now that we have the potential for new tariffs and a deepening trade war you could start to see as just suggested job losses in manufacturing and maybe a distinct slowdown in global economic activity and hiring in the u.s. because the tariffs the president is putting on now will be focused on consumer goods not just manufacturing goods. this deepens the war and raises the economic risk going forward. let me get your thoughts on