Others will have described the massively complex plot here better than I ever could but I just came here to add that, even watching this is a foreign language with English subtitles, I 'got' enough of the in jokes (maybe it would even be called satire?) to laugh at the right parts of this film. The rest is done with such beautiful and surreal panache that you can't help but love it. A great and truly entertaining film that doesn't condescend or foreshadow anything. You won't know what's around the next bend but you'll probably agree it's all just as it should be. (And it's better than the first installment as well!)
