It is quite interesting that Mr. Noble's post revolves around economic issues exclusively when we all know that Japan's economic "problems" causes are mostly demographic.

Will a consumption tax hike solve the demographic problem ?

No. Of course not.

Hence it is not the solution to Japan's problems.

And we all know what is the solution to Japan's demographic problem.

We all know what it takes to increase the population:
massive investments in education (including totally free education up to and including public universities), massive investments in child care support structures so that couples can have more than 2 children without one partner (usually the women) loosing any opportunities to a career.

That's the financial revolution that all Japanese people are waiting.

And please, let's stop the "Japan is not like Italy and Greece, but then if it were not then it would not be fun and we could not talk about its debt forever on talk shows." It is indecent.

Jean-Christophe Helary=