When it was 12 and they had to come back again. then inflation was 15. it is far better policy choice which they seem to be following focused on fighting inflation one times that might mean more pain because it is better off in the system in the long run, creates better opportunities for business men and consumers to make long-term decisions, they have confidence in the future of inflation. paul: are you surprised, 45 seconds left, are you surprised we ve got the recession so far. there could be one in the next year. i still think there could be when. i have been surprised. we have been incorrect in that supposition but i do think if you look at the yield curve, decline in corporate profits and the decline in banks willingness to make loans it