I'm not sure, in an operating cashflow sense, where that pool of capital is. The numbers actually show that investment is picking up, along with cashflow, and that there has been a consistent share of the cash being invested in capital. Cash on a finance basis, short-term cash, has increased significantly, but so too have short-term liabilities and all liabilities. I think what we may be seeing here are companies holding more short-term cash rather than long-term investments. That's a reflection of maybe how difficult it is to get the money on a long-term basis.
All that being said, the worry right now is that we may be facing another cash crunch and a financing crunch, so companies are tending to be very conservative here. We are seeing investment plans, particularly employment plans, being postponed only because of concern about what may lie ahead as a result of the European crisis. We're seeing right now many of the same signs we saw in 2007, particularly when it comes to customer financing.
The availability of money right here in Canada is a little tight, but it is especially so in the United States. So we're seeing some of those signals already.