Sunday, January 24, 2010

Japan’s troubles continues

Japan Today report today that:

“Liberal Democratic Party President Sadakazu Tanigaki pledged Sunday to take on Prime Minister Yukio Hatoyama’s government and his Democratic Party of Japan over money scandals, saying the LDP will fight against DPJ Secretary General Ichiro Ozawa’s ‘‘dictatorship.’‘”
“The annual convention, held at a Tokyo hotel, came in the wake of prosecutors’ questioning the previous day of Ozawa—widely seen as the real power in the DPJ—about alleged political fund report irregularities over which his former and current aides have been arrested.

‘‘It is truly unprecedented and bizarre that the DPJ’s top two leaders have been embroiled in scandals over political funds,’’ Tanigaki said in an address, adding that his party will keep questioning whether it is appropriate for them to be in charge of the government.”

This scandal have been brewing for some time and it seems that more and more people get dragged into it and although LDP is ceasing this populist opportunity, you cannot help wondering if they are right.

And if they are and if this continues down the same path, what will that do to the economics and politics of Japan?

This is pretty serious business for a country running a 200% public debt while still facing deficits and financial worries. And if it is serious for Japan, it us serious for many others as well. If Japan falter and goes back into a real decline, what do you think will happen with the world economy? Maybe this isn’t serious enough and it probably takes more to turn the fictive magical ‘green shoots’ into screams, but this is yet another nail in the coffin.

Oh, this is going to be a hilarious year.

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