Welcome, Governor, and Deputy.
A fair amount of discussion here is on a couple of things that keep coming back full circle. One issue being discussed, and I'm not 100% clear on the answer, is the relationship, as the chairman mentioned, between competitiveness and productivity and the growth challenges. You mentioned in one of your statements on how the value of the dollar is hooked into competitiveness and productivity.
The part of that statement I don’t think we’ve looked deeply enough at is the connection between...you know, when the dollar was trading at 36¢ to 38¢ lower than the American dollar. Too many small businesses thought that it was profit, it was exchange, and that's something totally different. I think part of it was simply an educational process, maybe an opportunity that was missed. The other thing that happened with the lower dollar is that the excess profit wasn't invested in machinery. A lot of it was invested in the people and wages, and wages went up exponentially and productivity, quite frankly, went down.
Do you want to explain that connection? I think it is a very difficult connection and one that is very difficult to control.