Easy Money Makes You Stupid, Europe Edition

How Germany and the rest of Europe ran out of money

The eurozone is like a big Rube Goldberg machine sitting on a slab of bedrock called Germany. As long as the German economy — and the European Central Bank that Germany controls — are okay, then the currency union is viable.

But recently several things have happened:

1. Interest rates have spiked across the eurozone in response to the double-digit inflation…