Luftwaffe is the german word for "air force", literarytranslated it means "air weapon". The Luftwaffe was the german air force during WWII. The modern german Air force is still under the name of Luftwaffe, unlike the army which switched from "Wehrmacht" to "Bundeswehr" (Federal Army).
Dude 1: Luftwaffe? What the hell is that a type of food?
Dude 2: Nein, scheiße Kopf. Sie ist das "Air force" von Deutschland.
Dude 1: What?
Noun & verb, someone bleating on about World War II such as the Blitz spirit, despite having never experienced or understanding of it. A combination of Luftwaffe, the German Air Force and waffle, mindless talk.
"He is full of luftwaffle, he keeps banging on about wonders of rationing, blackouts and keeping a stiff upper lip. This is despite being a boomer born in the 1960s."