If you need to do this then I think you need to rethink your design. You shouldn't need Context (that I can think of) outside of an Activity, Fragment, Service, etc. Everything should stem from the basic application components and you should be able to appropriately pass down the Context without needing to do this. For example, you can call getContext() from Views to grab it. If you need to use it in a POJO then it should be somewhat tied to an application component and have it passed in through the constructor.
edit: Seems like you might be fine with the memory leak issue? I remember reading about screen orientation changes wrecking havoc when someone did this. In any case, it doesn't make much sense from a design point of view to me.
edit2: You guys are right. I was incorrectly remembering Romain's blog article about it.
