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When interest rates go up makes inflation increases, thus affecting the value of our dollar. Why? Well interest is a double edged sword. While the companies make money they are making it on money that does not yet exists. There you have to make up the original amount (what they had) interest (extra you need to make). So beside the fact that they are creating money out of thin air for themselves, essentially they are destroying the value of the dollar at the same time since we do not have the gold in Fort Knox to back it up. As if it
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Unformatted text preview: isn`t bad enough that we are so far in debt. If we see that the interest rate is high on a product, it makes us think about saving our money or waiting until the product goes on sale or get a bit cheaper. Those who want to save money will simply retract from buying it. But some people will see something "expensive" as a good quality product and might think of buying it, causing them to spend the money they might not have and might go into debt and will end up owing credit cards and banks money....
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This note was uploaded on 05/08/2011 for the course ALL 101 taught by Professor Grecthem during the Spring '11 term at University of Phoenix.

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