recession. europe, important than likely will go interest a recession in the 4th quarter. and that --. >>neil: and we are not immune? >>guest: we are not immune. 30 percent of s&p earnings come from that. >>neil: what if we are downgraded again? >>guest: if we go do double a, very bad message to the world, relative to america's ability to deal with its problems. >>neil: doesn't the world already know that? >>guest: i don't think so, i think given the problems they have versus what we have, we're not as bad shape. however, we will lose more and more of our influence overseas, some of the trigger mechanisms we're talking about based on their inability to get a compromise, $454 billion of that is coming from the u.s. military. i don't know if that is smart. >>neil: what if one of the threats they raised on the shibani report that she raised,