used to in the past because we have reached a point at which for some reason the economy's basic growth rate is just not going to be very high. is that fair? >> that's right. and what i'm emphasized that this is really a global phenomenon of the industrial world and what it's got to do with is that we seem to have a lot of savings. more savings because there's moreinequality. more savings because developing countries are building reserves. more savings because people are paying down debt. and we've got much less demand to put that savings to use. hardly any demand for investment. but all that saving all that forgoing spending and no investment imparts a basic sluggishness. >> and so what you're saying is because this is a kind of deep structural problem, not just about this cycle, not just about the banks being overleveraged