| reasons so number one you know the fed | 4.481 | Jump to 21.199 |  |  | 
              
                
                  | the second thing is we think earnings | 4.16 | Jump to 42.0 |  |  | 
              
                
                  | 26 | 3.041 | Jump to 48.079 |  |  | 
              
                
                  | the economic data and then the third | 4.239 | Jump to 60.64 |  |  | 
              
                
                  | rates and well i think you know one of | 3.841 | Jump to 125.439 |  |  | 
              
                
                  | back in history 11 out of 12 tightening | 5.76 | Jump to 168.16 |  |  | 
              
                
                  | cycles since 1950 wolf | 4.159 | Jump to 171.44 |  |  | 
              
                
                  | of nine percent so as mark twain said | 3.841 | Jump to 175.599 |  |  | 
              
                
                  | know four or five months from now it's | 3.28 | Jump to 213.44 |  |  | 
              
                
                  | and if you look at the last 12 years the | 6.081 | Jump to 218.959 |  |  | 
              
                
                  | all every year except for 2018. | 5.44 | Jump to 225.04 |  |  | 
              
                
                  | it just so happened in 2018 equities | 5.12 | Jump to 228.08 |  |  | 
              
                
                  | sold off at one point 20 | 5.6 | Jump to 230.48 |  |  | 
              
                
                  | that's been for the last 12 years and | 3.92 | Jump to 238.319 |  |  | 
              
                
                  | going to be the fed hawkish for two | 3.199 | Jump to 243.68 |  |  | 
              
                
                  | months or three months | 3.04 | Jump to 245.36 |  |  | 
              
                
                  | forecast for 2022 in totality at about | 6.32 | Jump to 275.28 |  |  | 
              
                
                  | 2.8 and a growth forecast at four | 4.479 | Jump to 279.44 |  |  | 
              
                
                  | point that that eric brought about 2018 | 4.8 | Jump to 286.32 |  |  | 
              
                
                  | has ballooned to 8 trillion they would | 5.84 | Jump to 300.639 |  |  | 
              
                
                  | have to do 4 trillion of quantitative | 5.92 | Jump to 303.52 |  |  | 
              
                
                  | settles between two and a half and three | 4.24 | Jump to 327.44 | 
                      
                        
                      
                        DATE
                      
                      
                        two and a half and three
                      
                     |  | 
              
                
                  | one of the big contributors to what | 4.4 | Jump to 348.639 |  |  | 
              
                
                  | one of the better things for the | 5.6 | Jump to 366.08 |  |  | 
              
                
                  | when inflation gets closer to their two | 3.841 | Jump to 377.759 |  |  | 
              
                
                  | about a further five percent down for | 4.641 | Jump to 384.639 |  |  | 
              
                
                  | is is that i think going to 4 000 or 4 | 5.92 | Jump to 394.8 |  |  | 
              
                
                  | 100 um is is very very real and very | 4.8 | Jump to 397.6 |  |  |