I thought a recession was two consecutive negative quarters of GDP growth. Haven't seen it yet. There is a capital spending depression but it's only one component of GDP and I'm sure that we've seen the trough in it too. I agree with you about the the economic risks. The dollar was so strong for so long that I don't find the current decline that troublesome. That means watch the price of the dollar vs. the yen and vs. the euro very closely.