ordinary americans are better off now economically. you pointed out in your piece that j.p. morgan phase has found households with account balances 50% higher than in the month before the pandemic. what is that translating into. >> it's a striking finding. you have to think about what the biden administration did, they tried to not allow the mistakes of 2009 and 2010 to repeat. when they came in, they passed the american rescue plan. later the infrastructure act. a huge demand into the economy. the helped tax credits a ton more. you put that together with the hot labor market. and you get these numbers of low unemployment and higher asset levels. the thing they did not anticipate is high inflation. the danger that does darken the