The deficit scare had reached Germany last week. The “Spiegel” used to understand how our society works, but already 10 years or so back it lost track of the whole picture. This is last week’s title:
To the Spiegel’s credit, the last article titled “Die Billionen Bombe” was only from September 2006. The authors speculate that hedgefunds will pulling all markets down if they get into trouble, and that nobody would understand the risks. Good one.