Sour grapes are in season in Tokyo as Prime Minister Shinzo Abe¡¯s predecessor steps up and slams the incumbent¡¯s tax plans.
However, beneath the bad feelings and twinge of regret, Yoshihiko Noda makes a very timely point when he accuses Abe of buying into former U.S. President Ronald Reagan¡¯s debunked theories on trickle-down prosperity.
¡°It¡¯s a kind of voodoo economics,¡± Noda said of the ¡°Abenomics¡± program that has thrust Japan back into the global spotlight. Noda made those comments, which are sure to irk Abe¡¯s team, to my Bloomberg colleagues Chikako Mogi and Kyoko Shimodoi.
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