That 200% Debt Is Reason for ‘Arab Spring’ Revolution: William Pesek – Bloomberg   Leave a comment

“If you’d told me 10 years ago, when I moved to Tokyo, that today I’d be writing about an eighth leader, I never would’ve believed it. Yet here we are, analyzing and philosophizing about whether Yoshihiko Noda will last longer than the last five.

In April 2001, Junichiro Koizumi grabbed the job from the hapless Yoshiro Mori. Koizumi stuck around for an unthinkably long five years. He talked big about economic reforms, promised even bigger and managed to get a few things done. Then Koizumi turned the keys over to the forgettable Shinzo Abe, who then passed them to Yasuo Fukuda and Taro Aso.

Political lightning struck in August 2009. Voters tossed out the Liberal Democratic Party that had been in power for roughly 54 years. The Democratic Party of Japan might have fared better if it picked someone other than political lightweight Yukio Hatoyama as prime minister. Next came Naoto Kan, who last week resigned to make room for yet another leader.

Analysts and pundits are busy criticizing politicians in Tokyo for going with the safe choice — Noda — when Japan is navigating a world economy that is anything but. Yet let’s put blame where it belongs: Japan’s 127 million people.

There’s some truth in the old saw that people generally get the leaders they deserve. In Japan’s case, voters need to begin demanding more of leaders and speaking out forcefully for change. Instead, they offer nothing more than numbing silence.”

via That 200% Debt Is Reason for ‘Arab Spring’ Revolution: William Pesek – Bloomberg.

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Posted August 30, 2011 by arnoneumann in Japan

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