I Recall That the People Went About with Pale and Worried Faces, and Whispered Warnings and Prophecies Which No One Dared Consciously Repeat or Acknowledge to Himself that He Had Heard: a Sense of Monstrous Guilt Was Upon the Land, and Out of the Abysses

Yes, Paul Krugman reports from Europe. He talks to the Great and Good of Germany. And what he hears would shatter any lesser man.

Paul Krugman:

That ’30s Feeling: Here’s roughly how the typical conversation goes....

German Deficit Hawk: We must cut deficits immediately, because we have to deal with the fiscal burden of an aging population.

Ugly American: But that doesn’t make sense. Even if you manage to save 80 billion euros — which you won’t, because the budget cuts will...