I think that’s at least one explanation for how Estonia bounced back from a recession worse than Greece’s on an austerity regime with almost no social unrest. These people clearly remember when times were much worse.
Canadian Rattlesnake has the details.
UPDATE: In related news, the President of Estonia just ripped Paul Krugman a new one on Twitter for casting doubts on the austerity regime. So much win abounds in these tweets that it’s really hard to pick a favorite. But I’m going to have to go with:
Let’s write about something we know nothing about & be smug, overbearing & patronizing: after all, they’re just wogs:
Krugman deserves every cut. Read the Whole Thing and pick your favorite. (h/t Instapundit)
FURTHER UPDATE: Ace has his doubts; points out that he President’s Twitter account is unverified. But if it be a hoax, it be an elaborate one.
AND YET FURTHER: The Estonian President has confirmed they were his tweets.
