or is the market focused on low interest rates, which are a panacea. if you look at other liquidity driven markets, markets driven by big moves by the federal reserve board, the last one 1999. we had y2k that year and the year before, currency crisis. so the fed pumped a lot of liquidity into the market and the stock market did significantly better in 1999 than anybody thought. the problem is when there s too much sugar there s a hangover. investors in 2000, 2001 and 2002 learned of that. it s tough to guess when the worm will turn. i m neil: so having said, with the first quarter performance, strong in march, you don t see this lasting? play out the next quarters? i think it lasts for a period of time but we re already seeing danger signs. last week wered that social security had gone into the red and at the same time, treasury yields hit 52-week highs.