tag:blogger.com,1999:blog-5908830827135060852.post2774027082088820685..comments2024-03-29T02:54:56.523-04:00Comments on Bond Economics: What Are Government Promises Worth (Part 3) - Sovereign DebtBrian Romanchukhttp://www.blogger.com/profile/02699198289421951151noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5908830827135060852.post-90335634027443275512015-02-05T14:01:44.917-05:002015-02-05T14:01:44.917-05:00Your writing frequently inspires me and this post ...Your writing frequently inspires me and this post is another example. However, this time I think the detail in the post creates complexity that obscures the goals of the post. My reaction was that a much easier description of the creation of fiat money and debt was needed. <br /><br />I undertook to create a less complex description. The result is found at<br /><br /> http://mechanicalmoney.blogspot.com/2015/02/a-simple-model-for-government-borrowing.html<br /><br />in a post entitled "A Simple Model for Government Borrowing".<br /><br />I think a good model must be simple but accurate. If accurate, a simple model can be enhanced with complexity until it describes the real macroeconomic world. <br /><br />The model I describe is a simple base. The model you describe can be built from this simple base by adding shortcuts (such as using 'reserves') and adding additional handlers and rules. <br /><br />Thanks for your post.Roger Sparkshttps://www.blogger.com/profile/01734503500078064208noreply@blogger.com