Last Sunday evening, only a few hours before the scheduled appearance of part one of this series on Dean Baker's Growth, I coincidental'd into Noahpinion.
Noah writes: "Ron Paul wants to have the Fed destroy its holdings of U.S. Treasury bonds." The oddest thing about it? "Dean Baker actually likes the idea."
So, on Saturday, 2 July 2011, Dean Baker likes the idea of having the Federal Reserve destroy its holdings of U.S. Treasury bonds.
And yet, on Wednesday, 11 May 2011, Dean Baker liked the idea of having the Federal Reserve hold, and even increase its holdings of Treasury bonds:
If the Fed bought and held $3tn in government bonds, it would lead to interest savings of close to $1.8tn over the course of the next decade.
What I think?
I think Dean Baker is concerned, but clueless.