I wanted to call the attention of the SSJ community (if that is what we are) to this contribution to the debate by Michael Cusek in his excellent blog Shisaku.

http://shisaku.blogspot.jp/2012/08/why-noda-chose-consumption-tax-or-how.html?utm_source=feedburner&utm_medium=emailutm_campaign=Feed:+blogspot/OStrU+(Shisaku)

To underline something he implies, an argument that Noda's endorsement of the consumption tax increase was irrational and/or foolish requires consideration of his strategic alternatives. Michael argues that Noda's other two stated goals--restarting reactors and TPP--were hardly a good basis for an election campaign against the LDP. I wonder if anyone has a better suggestion--what would you do if you were Noda, just coming into office?

Until pretty recently I had thought that Noda's tax hike strategy would be a real plus and probably win the election for the DPJ, by putting the LDP in a super awkward position and showing himself as a Prime Minister who can accomplish something important (finally). I hadn't anticipated that the DPJ would disintegrate to the extent it has, which makes the argument moot, but I still think it makes sense.

John Campbell