that's that whole wage and income disparity that gets brought to the forefront. >> when you have the federal government cutting back on aid to the states, money sent to places like michigan and detroit. you're going to have the public sector doing worse than the private sector 37 but we have some austerity at the federal level. we've got money coming out of localities, layoffs and localities that makes economic growth harder. that's why most would say they don't want this sequester right now. talk to us about long-term entitlement reform. but this will hit areas like detroit. you'll see the disparity of how corporations are doing and how municipalities are doing. >> what's the indicator you would look to? tell me when this quantitative value has changed, that's when we'll know we're ahead of the curve. >> i think just to continue to look at housing prices. in terms of what's really going to drive a broader recovery.