Rob Armstrong

Not so much in the first quarter, but in terms of what they're talking about, how it's going now in the second quarter, there's a shortage of the stuff that they make.

They're going to print it, right?

But one day, as the guy in Apocalypse Now says, this war is going to end, at which point oil prices are going to go down, right?

So that's a temporary phenomenon.

And I guess if you wanted to be a Debbie Downer about the United States in particular, you might say...

The consumer is not quite what the consumer used to be.

So we saw that in the first quarter GDP report that the rate of growth of consumption is slowing.

It's gently kind of returning towards trend.

And in the other scenario in which the war doesn't end and oil prices go up, that's likely to get worse.

I think, by the way, the U.S.

consumer is doing fine right now.

McDonald's earnings, just to grab a consumer company out of the air, were fine.

They saw, you know, real terms sales growth in the United States.

Fifteen percent.

My son, my son accounted for 20 percent of U.S.

McDonald's sales this quarter.

They have like a concierge following him around anytime he gets hungry.

They just put a Big Mac in his hands.

It is true.

But to get to your U.S.