Take a side, there will be a recession or there will not be a recession. Either way you have a 50% chance of being right. If the Fed cuts rates then as in the past the economy will be stimulated and growth will ensue. Now THAT is almost a 100% certainty and another certainty is that as rates comes down those mtg resets will be at a lower rate thereby removing another stone in the “we are going to hell in a hand basket” wall being built by the glass is half empty crowd.
The only people who don’t want lower rates and lower taxes are liberals who want a trashed economy more then they want us to lose in Iraq (well, almost)
I do not want lower rates at this time because it will further weaken the dollar and risk increased inflation.