If the European Union starts breaking up or the Euro starts breaking up, that's going to throw a spanner in a lot of people's works because nobody's really sort of planned on that. Most of the bonds, the Euro bonds, none of them, very few of them now have any provision for what happens if there is no Euro. I mean Italy owns several billion dollars’ worth of bonds. Suppose Italy pulls out of the Euro and they suddenly say OK we're going to pay you back in Lira, well that's going to confuse a lot of people and cause a lot more turmoil.
You have the same sorts of movements in Asia not nearly as powerful or as vocal yet but you have the same sorts-- in the United States there's a movement now for California to withdraw from the U.S. and by the way in the U.S. a lot of people would like to see California leave the U.S. So it may work both ways.
So when you start having bear markets as you I’m sure well know one bad thing happens and another bad thing happens and these things snowball just like in bull markets good news comes out then more good news comes out the next thing you know you're five or six or seven years into a bull market.
Well bear markets do the same thing and so we have a lot of bad news on the horizon. I haven't even gotten to war. I haven't even gotten to trade war or anything like that but you know things do go wrong.
