It is all because of government and Bank of Japan's poor macro economic policy. They have kept deflation 20years and look what happened. Our nominal GDP is same as 20years ago. It is obvious that our lost 20 years stem from deflation. Noda, however, doesn't understand anything about macro economy so he believes whatever government bureaucrats say. Thus, he commits his life to consumption tax hike.
We must revise bank of japan law immediately and have them commit to 2% inflation like other developed country! I really want Your party to gain more legislative seats in the next election as they have been saying that this is their No1 priority policy in their party.
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