Michael Lewis continues his Vanity Fair series with a rather disturbing article — disturbing on many levels — about Germany and the world financial crisis: “It’s the Economy, Dummkopf!

Tyler Cowen at Marginal Revolution calls the piece ” funny, one-sided, slightly offensive, somewhat true.”

I agree with everything except the “slightly” part.  Not for the faint of heart.

ADDENDUM: Walter Russell Mead weighs in.  Paul Krugman expresses some optimism.  Follow his blog for much, much more on the nuts-and-bolts of what’s going on.