Originally Posted by VRPdommy

Well,
If you are foolish enough to not take a fixed rate, shame on you.
If a floating rate got you the loan, maybe you should not have.
If you think the fed is crashing the economy, just wait till it does and refinance at a low fixed rate afterwards.
For most, it does not take money out of the economy in the near term, it just extends the length of the loan.

For a biz however, where the length is normally fixed, it does take money out of the economy.

As far as I am concerned, with growth over 2%, inflation (consumer) under 5% and unemployment under 5% and interest rates under 5%, to many have been spoiled for to long.

I have never seen a economy that defied gravity and the number set. This one is no different.

Folks give Reagan credit for the big tax cut back in the 80's. Nobody remembers the giant tax hike (record breaker) the following year when they realized they were not getting enough revenue and the deficit was going to explode.

I see current events no different.

Here is a new way to look at it all...
Who needs the banks ?
Go out and finance your money needs in the private markets !
Surely you can convince your safe bet to someone in the private markets for less money !
It's a free market, remember ! Perhaps you are willing to lend your money ?
LOL