Showing posts with label Noda Yoshishiko. Show all posts
Showing posts with label Noda Yoshishiko. Show all posts

Thursday, March 14, 2013

The LDP's Latest Electoral Reform Chimera

Cognizant of some voters remembering that in November representatives of the Liberal Democratic Party promised then Prime Minister Noda Yoshihiko that they would cooperate in cutting the number of seats in the House of Representatives if Noda would dissolve the Diet -- and cognizant that some kind of action looking like electoral reform is in order -- the LDP is now proposing to scramble the electoral system worse than ever.

In 2009, the Democratic Party of Japan promised to cut the number of House of Representatives proportional vote seats from 180 to 100. Nominally this proposal sought to reduce Diet expenditure. However this explanation was facetious: the House was to be left with a still extraordinary 400 seats. The actual goal of the proposal was the further cementing of a two-party system, this by starving the mini- and micro-parties of opportunities to win seats. As a such, the proposal never had a chance of being enacted after the losses of the 2010 House of Councillors election, as the DPJ by itself no longer had the votes necessary to prevail in both Houses of the Diet. Had the LDP, the other party desirous of a two-party system, been willing to accept a short term sacrifice for a long-term gain, the proposal could have been passed at any time. However, the LDP had no interest in cooperating with anything the DPJ offered.

So the matter sat, fermenting, until revived to provide camouflage for Noda's reprehensible surrender on every front.

However, with the courts beating upon the doors of Diet demanding reform (Link), the LDP has taken up the promise to reduce House of Representatives seat numbers.

Cutting the number of proportional House of Representative seats has nothing to do with the sort of reforms the courts are demanding. However, better to be seen doing something, no matter how perverse and pointless, than be hounded for doing nothing.

Hence, the latest cockamamie proposal. That, and the desire the LDP has to retain the New Komeito as an ally until the July House of Councillors elections are over.

Here is the LDP's proposed reform of the House of Representatives:

- Retention of the +0/-5 plan for rectifying the disproportionality of districts, a solution which the courts have derided as "nothing but the barest minimal reform meeting the mandatory standards." (Link – J)

- Cutting the number of proportional seats by 30

- Dividing the remaining 150 seats (180-30=150) into two, with 90 seats being apportioned by the current d’Hondt distribution from regional blocs and 60 seats apportioned among the parties other than the top finisher in the proportional bloc vote, with the proviso that greatest number of seats a party other than the top vote getter can win inside a bloc is equal to the number won by the top finisher (Got that?)

- Reducing the number of blocs from the current 11 to 8 (Link – J)

The DPJ has already come out against the LDP proposal, iterating the obvious point that "voters would find this reform hard to understand." (Link – J)

A reform which accomplishes none of the things the public and the courts have asked for, while adding at three new layers of complexity to the existing process is "hard to understand?" Really?

The great thing about having the LDP back in power with Abe Shinzo at the helm? One never needs to knit together tenuous webs of inference and intrigue in order to make plain the time-wasting self-interest at the heart of every ruling party initiative.

Saturday, June 30, 2012

And Ozawa Ichiro As Moe Greene

Former Democratic Party of Japan leader Ozawa Ichiro has met three times over the last two days with his erstwhile friend in the DPJ leadership Koshi'ishi Azuma, this over Ozawa leading his followers and allies in an open rebellion against the leadership's sponsorship of legislation raising the consumption tax from 5% to 10% by April 2015.

After the first two rounds of talks on Thursday, Ozawa said that if the talks end in failure, he will have to make a grave decision. After the third meeting on Friday afternoon, Ozawa promised he would make the decision one way or the other (presumably he was referring to leaving the DPJ or staying) on Monday.

In terms of the content of the Ozawa-Koshi'ishi discussions, one can say with some degree of confidence that it does not require three meetings and a weekend to deliver an ultimatum.

For that, one meeting would have been more than sufficient.

It does take three meetings and a weekend for a talking-things-over with one's minions for a very arrogant man who thought he was in an impregnable position to come to the realization that he has been made an offer he cannot refuse.

In all the discussions of Ozawa's magic numbers -- whether it is

- the 54 DPJ members he would have to drag along with him out of the party (lest any of his followers have second thoughts about the jump, Ozawa made sure to extort letters of resignation from his supporters, which he keeps stashed in his pocket) to reduce the DPJ to minority status in the House of Representatives

- the 43 42 he would need to lead out of the party in order to form a parliamentary caucus of 51 representatives, the minimum necessary to propose a no-confidence motion. however many billions of yen his followers would need to run credible campaigns in their districts, should elections be held

- the percentages of the public appreciate Ozawa's departing the DPJ with his followers in tow to form a new party [15%, according to The Asahi Shimbun; 16%, according to the Yomiuri Shimbun]

two little problems have been overlooked:

1) the Noda government has established a working, if not exactly cordial, relationship with the Liberal Democratic Party and the New Komeito, and

2) whilst the LDP/New Komeito alliance wants to replace the DPJ/rump PNP as the ruling coalition, it absolutely craves the chance to crush Ozawa once and for all.

Talented amateur player of Go that he is, Ozawa may be a little taken aback to find himself in an impossible position, neither able to cut a deal nor walk away from the table undiminished.

Everything hinges now on pride, whether Ozawa overcomes his, or sends the political world reeling again based upon his confidence in the rightness of his own vision.


Later - The original text of this post contained a number of links, all of which were lost in a software crash at midnight, Tokyo time.

Even later - I confess a certain sympathy with the view expressed by Okumura Jun over in his June 26 post over at GLOBALTALK 21: that Ozawa has lost control of his followers, leading to their redefining on their own what fanatical devotion to him should be.

Thursday, June 28, 2012

Well, So Much For That Eternal Verity

I once issued a definitive proclamation regarding Peter Tasker, a founding partner of Arcus Investments.

It turns out I was wrong.

In his latest opinion piece for the Financial Times, Mr. Tasker has nothing interesting to say (Link).

It seems that sometimes even the best just phone it in.

For a better look at the short-term and mid-term consequences of the consumption tax legislation, read this Bloomberg report (E). Ignore the title (titles on wire service reports are too often misleading) and concentrate on what the analysts are saying about 2013, the election year. The looming threat of a tax rise in April 2014 will likely increase consumption over 2013, stimulating overall economic growth, as companies and individuals pick up big ticket items before the 3% jump in prices. The likelihood that consumers will shell out for goods and services at current prices, staring as they are at whalloping, regressive tax rise in 2014, will likely stabilize prices, nullifying, even if only temporarily, the long-term deflationary trend. Whether the halt in deflation triggers a spike in equities investments, given the sudden crash in real returns on bonds, is a question best put to Naomi Fink, a.k.a the Smartest Person In Tokyo, of Jefferies.

I am not as sanguine as Adam Richards (E), I certainly cannot be convinced that in a world where every country's bond yields are low -- some even lower than Japan's -- and a rock hard yen that is killing exporters, that a tax rise taking a first stab at stabilizing the nation's fiscal health is a really bad idea.