Doyle, maybe I did not understand the question. The ultimate result
of the bonds coming due would be that households would be holding money
rather than bonds. They could use the money to buy other assets,
but the could not add to their holdings of bonds because the gov't would
not be offering any new bonds.
Doyle Saylor wrote:
Doyle
Money in bonds increases. Money held in the hand is spent?
Also like Christian I think Michael hasn't grasped
the question as it was put.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
