To business leaders in new york and elsewhere, the fact that it was going to be a roughened of 2012 was no surprise. >> right. exactly. >> we've left out one important metric here, which is how did the markets react? the markets don't care. we're just still cruising up in a 14,000 accident practically dow jones index, and to the degree we care what the equities markets think of a slight contraction, they seem sanguin. >> it's true the markets are going up, but they are because the fed has been saying we're going to keep throwing money into the bond market. we're going to buy up mortgage-backed...