The stock market would spike, which will be nice for all the ‘big boys’ who get the early wink from their man Paulsen , but by the time we hear about it, it will be “priced in”.

The dollar would be pounded heavily and all of your dollar denominated assets would lose value.

Unfortunately for housing, I dont think 0.5% is going to help at this stage, rates arent exactly high and if standards have really got tighter, then all those flakes and specuvestors that were helping prop up the bubble will still be unable to qualify to buy, even if the rates dropped by 5%.