The 80-year-old governor of Tokyo, Shintaro Ishihara announced earlier today he will form a new political party for the upcoming elections.
“As of today, I will resign as Tokyo governor,” Ishihara told a news conference, brandishing a white envelope, in an announcement that took Japan’s political and media establishment by surprise. “I’m planning to return to national politics. I want to do so by forming a new party with my associates.”
The ruling DPJ is unpopular and the public is apathetic toward the opposition LDP so things could get interesting.
Meanwhile, Japan is facing its very own fiscal cliff with gross borrowing at 1,021 trillion yen. That’s right, they have broken the quadrillion mark — 15 zeros baby!