I do spend a lot of time talking to the actual companies as opposed to relying on our models to explain this, and I find it to be very helpful to do that. What I pick up, as I was relating earlier, is the sense that companies and their boards have been through a lot in this period and so the bar for making a decision is higher than it has been in the past in terms of confidence in the outlook.
When you're looking out there and you see the U.S. economy going through a pretty good summer and then a bad winter, is that just because of weather or is it coming back? Those bits of uncertainty really cause companies to hold back, and it's totally understandable. It's true that balance sheets are healthy. We think that's excellent because it's one of the important ingredients to the upturn that we're describing.
What we think is that all the pieces are coming together with a stronger U.S. economy, more export growth, and the strong balance sheets, and of course inexpensive financing if that's the route you need to go.
All of those ingredients are ready. All we need is the extra degree of confidence that it's a sustainable growth upturn as opposed to another temporary one. I'm confident that's what we're seeing and so over the next year or two, we will see a big difference in that. But that's a forecast, it's not in the numbers yet.