savage financial crisis-based recession. so the normal mechanisms of v-shaped recovery largely do not apply. now, on top of that slow recovery, we are adding significant drag coming from increase in the payroll tax, coming from the sequester, and that's what bernanke was referring to. i've got to tell you, i disagree with your premise the only reason the stock market is up is because of the fed action. i think that's confused. on the real side of the economy, corporate profits are the highest they've ever been as a share of gdp. if corporate profits are high, you are going to see a strong stock market because that's what the valuations are supposed to be based on. >> very good point. they've got a lot of money in the bank. they are able to get those corporate profits at record highs without commesurate hiring. that has been good for their bottom line, hasn't it? >> yes. >> does that go on in