Private Debt

From 19 forty five, until 19 or two thousand and eight, private debt basically kept going expanding. We ended up popping the private debt bubble, but this time it was from a much higher level. Do do you think that it's going to look just like the forties and he sory, the forty five onward, where you're going to have private debt expanding again? So i don't expect may be flatto down in terms of the private debt portion. And its part is largely because nominal g p was going up so quickly because you had such high inflationand  i think going forward, the absolute debt level will continue to grow.