historically when rates have gone up fairly dramatically and then when the FED lowers them we often go into what’s now called euphemistically A Hard Landing which is a euphan ISM for a recession uh you’re just saying you think we’re having a soft Landing why do you think that this fed is so smart that they’re going to be able to get us to a lower interest rate level without going into a recession the truth is that soft Landings are rare right during my career there’s really only been one in the mid 1990s but the reason we think that we’re on a path right now now for a soft Landing is that economic growth remains very good and our forecast is for that momentum to continue into next year um stock markets are doing very well creating wealth for people consumers um and earnings are doing quite well right fundamentals really matter in the stock market earnings are going to be up 10% or so this year and again we see a trajectory for that to continue next year