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Recession, really since the start of the reform era back to the late 70s and early 90s even the great recession was a stimulus. what would the impact on the american economy be if china really does go for traction? >> frankly again, the trade deficit i don't think it would be that much. a lot would also depend on what the currency looks like and >> you can get a currency shift. >> yes and you can have the corporate profits and stock market. i don't know if it would have a particularly big impact on the economy as a whole. we've already lost a portion of those jobs anyway but it certainly would...

Globally, you'd have low oil price it goes down, used to be it was great for america because we imported oil but now we have all this domestic production. could you see real downturn in that? >> i would argue be ready, i believe the three percent growth more or less they saw in 2008 in my opinion that was sustainable. without trade. >> i agree with you. we were on a path for two, three or four years. >> and now we're looking at this implies a level of sophistication that is inaccurate but were using 3.8 percent gdp growth next year. i think i would say whether it's agricultural commodities or ...