Let`s enjoy English eleventh

【The bubble was born and burst】

『Column, running on a financial institution』

It means that lots of depositors rush to a financial institution altogether in order to withdraw their deposits. Banks usually don`t prepare for money in cash, so if lots of depositors rushed to the banks, there is a fear that they fall into being lacking in fund, and it connects with going bankrupt on banks direct.

〈Anxiety became serious due to the financial instability〉

Then the Ryutaro Hashimoto abolished a reduction on tax for income, and raised the consumption tax from three to five %. He increased a...

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【The bubble was born and burst】

〈An anxiety became serious due to the financial instability〉

Hashimoto increased a shoulder on the nations and started to rebuild the budget on Japan in the same year the calling to the nations was done.

As a result, the economic condition went up once, but went into a stall altogether, and a depression attacked Japanese economy again, and it connected with the financial instability at last.

After the bubble burst, Japanese economy couldn`t start an appropriate economic policy, and reached November.

The Bank of Japan declared it would lend fund to ...

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【The bubble was born and burst】

〈Depression became serious due to the financial instability〉

The Bank of Japan declared it would lend as much money as possible without collateral to financial institutions because of the serious situation, and the uproar calmed down at last, but the financial instability made mental states on consumers very cold.

The consumers were surprised at the failure on banks which were a pronoun of being security absolutely, and collected confidence from the nations, and felt anxiety in the future. They didn`t feel like going shopping except for necessities of life...

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【The bubble was born and burst】

〈Depression became serious due to the financial instability〉

...so the consumption was floundering at the bottom and no one tried to buy anything, so it spurred on the depression. Then the Ryutaro Hashimoto was beaten in election of the House of Council because his policy caused the situation, so his cabinet was forced to retire July in the next year.

〈The government introduced public fund in a large scale〉

Keizo Obuchi Cabinet which started July in1998 and tackled an economic policy so as to do away with the financial instability. He prepared for the...

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【The bubble was born and burst】

〈The government introduced the public fund in a large scale〉

Obuchi prepared for the public fund of which total amount of money was sixty trillion yen, and nationalized two of financial institutions of which management were at standstill and prevented the financial instability from braking out.

Two of the financial institutions which were nationalized dealt with the bad bonds with the public fund and become other banks. The one was Aozora bank and the other was Sinsei bank. Obuchi Prime Minister pushed forward his policy, everything was ok in order to make...

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【The bubble was born and burst】

〈The government introduced the public fund in a large scale〉

Obuchi pushed forward his policy, everything was ok so as to improve the economic situation. Its fund was prepared with a deficit-covering government bond, a debt from the nations.

He sneered at himself, for he was the worst one who got into debt more than any others in the world, and the debt was left to the next generation in Japan.

〈Japanese economy fell into deflation〉

Japanese government showed an opinion that its economy was in a slight deflation March in 2001. Actually its price index on...

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【The bubble was born and burst】

〈Japanese economy fell into a deflation〉

As to a ground on deflation, the author showed it his readers with numbers, but to my sorrow, I can`t understand the numbers mean, so I`m going to omit it. I`m sorry for it.

Deflation means a shrinkage, and it means that the whole economy shrinks. On the other hand, inflation means expanding, so economic situation expands.

Going down on prices of goods itself isn`t bad, but deflation doesn`t stop there, so everybody hates it.

When prices on goods dropped, consumers thought they would wait for until it goes down more

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【The bubble was born and burst】

〈Japanese economy fell into a deflation〉

No one tried to buy goods, and making the price on goods drop again, so its profit decreases, and income on employee also drops, and no one tried to use any money, so no one tried to buy any good more and more, and prices on goods drop more and more.

Thus a vice circles continues, and we call it a deflation spiral. The economic situation becomes worse more and more with a circulation. Once being fallen into the vice circle, it`s hard to escaped from it.

We the Japanese used to enjoy the bubble, but we had to pay...

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【The bubble was born and burst】

〈Japanese economy fell into a deflation〉

It seemed that we the Japanese had to pay for something so much more than we received.

〈A way of convoy system〉

It is said that Japanese economy was protected with a way of convoy system for a long time. The convoy system is a term which was used in the middle of a war. Warships which protect troopships moved forward with the speed of a troopship which was the slowest among them.

After the war, the Ministry of Finance regulated actions on each bank in order to protect a bank of which efficiency on management was...

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【The bubble was born and burst】

『Column, convoy system』

After the war, the Ministry of Finance regulated actions on each bank in order to defended a bank of which efficiency on management was the worst, so its management went well, and it was called convoy system.

The financial institution learned to think that if being in difficulty, the Ministry of Finance would help, and neglected to make an effort for self help and lost its ability for management.

Some people pointed out like that.

〈Why didn`t the aftermath on the bubble go ahead smoothly?〉

People are the weak creature. When...

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【The bubble was born and burst】

〈Why didn`t the aftermath on the bubble go ahead smoothly?〉

When everyone was absorbed in making money enthusiastically, withdrawing from there is extremely difficult. Without being aware it, lots of people were swallowed down by a whirlpool of the bubble, or giving their hands to an outbreak on the bubble.

After the bubble burst, they were conscious for the first time that it was the bubble.

We can`t ignore a responsibility for the people who enjoyed the bubble enough, but the responsibility for statesmen and economic bureaucrats who made a mistake on...

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【The bubble was born and burst】

〈Why didn`t the aftermath on the bubble go ahead smoothly?〉

...but the responsibility for statesmen and economic bureaucrats who made a mistake on management for Japanese economy was by far heavier than any others.

After the bubble, Japanese economy was floundering at the bottom, and we sometimes call the situation a lost decade. It means that it was a decade when we lost a chance of solving a problem before our eyes.

By the way why being unable to deal with the aftermath on the bubble? Circumstance inside on the financial institution was like the next.

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【The bubble was born and burst】

〈Why being unable to go ahead on the aftermath for the bubble smoothly?〉

All the people in financial institution who were leaders on expansion for unreasonable finance in the time of bubble promoted and occupied on their management side. If accepting a negative legacy in the time of bubble, and going ahead with bad bonds by the bubble means accepting their own errors.

As a result, they couldn`t start a drastic measure on the aftermath, so dealing with the problem was put off inch by inch.

The people who tried to stop a way of adopting by financial...

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【The bubble was born and burst】

〈Why being unable to go ahead with the aftermath on bubble smoothly?〉

The people who tried to stop a way of adopting by financial institutions they belonged to were transferred to other related companies long ago.

On the other hand, bureaucrats didn’t try to take any responsibility. Bureaucrats on the Ministry of Finance move to other post within a few years. Without any problem when being in their position, they can promote smoothly.

In the situation, the people are weak creatures, so they fell into a principle of conceding anything to avoid trouble.

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【The bubble was born and burst】

〈Why being unable to go ahead with the aftermath on bubble smoothly?〉

They tried not to deal with the aftermath drastically, and the problem was postponed, besides, both bureaucrats and economic world expected not seriously that if the economic condition was restored again, the price on land would start to go up, so everything would be solved.

They couldn`t escape from a curse of mythology on lands, the price on lands would go up. There was irresponsible principle of conceding anything to avoid trouble, there were empiricist 経験論者 who made much of their...

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【The bubble was born and burst】

〈Why being unable to go ahead with the aftermath on bubble smoothly?〉

...there are empiricist who made much of experience in the past were so arrogant that they tried not to learn anything from a failure there.

Bankers who were engaged in their business could say nothing even if they thought something odd. Executive officers who obeyed intention from the authorities alone didn`t take any responsibility. The authorities which didn`t have any strategy of broad economic outlook and postponed its decision.

It didn`t change anything from a relation between ...

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【The bubble was born and burst】

〈Why could no one go ahead with the aftermath on the bubble smoothly? 〉

It didn`t change anything from a relation between soldiers and officers in the front of the Pacific War, from a relation between officers and the General Staff Office in the war.

The bubble was born, expanded and at last burst, therefore we have to learn a lesson from it so as not to repeat the same failure. It`s a responsibility which we should take in the history.

〈After that, what`s happened?〉

The bubble burst and financial instability spread in Japanese economy, but public fund...

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【The bubble was born and burst】

〈After that what`s happened?〉

...but the public fund was infused into financial institutions, so mild recovery on Japanese economy continued after 2000.

However the bubble on housing burst in America in 2007, and financial instability spread out among America, but the Bush government continued to adopt a plan on a small government that the government didn`t intervene in economic activity by private companies.

As a result, American economy became by far worse, and the financial instability changed into an international scale in the next year, especially...

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【The bubble was born and burst】

〈After that what`s happened?〉

...especially without adopting any useful measures, American government watched Lehman Brothers which was an investment bank go bankrupt, and distrust against financial institutions spread out.

The author said he thought as if he had watched Japan in the past, for America couldn`t lenan any lessons from the failure in Japanese economy.

I`m going to go into a new chapter from now on.

【To the time of a coalition government】

〈A government of socialism was born in Japan〉

A government of socialism was born in Japan, some of ...

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【To the time of a coalition government】

〈A government of socialism was born〉

...some of mass media in Europe reported like that when the Murayama Cabinet was formed, for Tomiichi Murayama who became the new Prime Minister was a chairperson in socialism party, but needless to say, it wasn`t like that actually.

While the Prime Minister was from the Socialism Party, it was the Liberal Democratic Party which supported the Murayama Cabinet, and a new political party, Sakigake, played a part in connecting two of the political parties then.

Immediate after taking office as Prime Minister...

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【To the time of a coalition government】

〈The government of socialism was born〉

...a summit was held at Naples in Italy, and Murayama attended at it, met then the Clinton President in America for the first time then, and Murayama told the American President his personal history until then.

Articles on myself were on newspaper in a foreign country, but they were in the wrong, so I`m going to say on myself with my own will, and he started to speak.

He was born into a fisherman`s house, and worked his way through college. He decided not to cause the war again and joined the political party...

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【To the time of a coalition government】

〈A government of socialism was born in Japan〉

...and joined the political party of socialism, after that he continued a political movement, and his model was labor movement in America, but the Cold War was over so the time also changed, so without being seized by any ideology, he should go ahead with politics. He spoke for a long time.

Clinton who met Murayama for the first time seemed to be moved by his talk, though the talk between two of leaders took much time, so it wasn`t over as planned, but Clinton said it was the one which he`s wanted to...

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【To the time of a coalition government】

〈A government of socialism was born in Japan?〉

...Clinton said it was the talk which he`d wanted to listen to than any other things then.

Tomiichi Murayama who was a chairperson in the political party of socialism took office as Prime Minister June in 1994. He was the eighty first Prime Minister.

Tetsu Katayama was the Prime Minister from the political party of socialism in 1947, and no one was the Prime Minister from the political party of socialism until Murayama

While the Katayama Cabinet was formed because the political party of socialism was...

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【To the time of a coalition government】

〈A government of socialism was born in Japan?〉

While the Katayama Cabinet was formed because the political party of socialism was the first political party in the election of the House of Representative, Murayama Cabinet was formed though the same political party suffered a crushing defeat in the election.

Murayama would have retired from statesman and enjoyed himself with his grandson rather than have been the Prime Minister.

He was born to the house of fisherman and after that he should caught sardines for dried small sardines in Oita prefecture...

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【To the time of a coalition government】

〈A government of socialism was born in Japan?〉

...but after he worked his way through college, he went into the political world, and he clawed his way up the central political world, through a member of municipal, prefectural of assembly and a member of House of Representatives, so at last became the Prime Minister.

Murayama himself said like the next.

The one who would be the Prime Minister is different from ordinary people like me on a way of making up its mind to be the Prime Minister. Its feeling is ready for it. It`s gathered staff for it.

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【To the time of a coalition government】

〈A government of socialism was born in Japan?〉

So it`s all right whenever the person becomes the Prime Minister, for it`s prepared for everything.

On the other hand, I have never thought I tried to be, and I didn’t think I can, but I was all of sudden. What should I do?

As being appointed as the Prime Minister, I couldn`t say I couldn’t do. Others said I went into the official residence but it was as if I had taken up posts with my bag alone in another city, leaving my families behind my hometown.

Without running for the election on the House of...

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【To the time of a coalition government】

〈A government of socialism was born in Japan?〉

Without running for the election of the House of Representatives in the previous year, he was going to retire from the political world. He decided to devote himself to take care of his sickly wife.

However there was the election all of sudden and his successor wasn`t fixed, he was forced to run for the election then. The political party of socialism suffered a heavy losses in the election, so Sadao Yamahana who was then the chairperson took the responsibility for the defeat in the election and retired.

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【To the time of a coalition government】

〈A government of socialism was born in Japan〉

As a result, Murayama was persuaded to be a candidate as successor of Yamahana.

The political party of socialism repeated a confrontation, divided into right and left wing party inside the political party, and Murayama belonged to left wing party, but his sincere character was accepted by everybody. Even the members of Liberal Democratic Party trusted in him.

His parents` one storied house in Oita prefecture was made of wood and leaned to one side. When looking at it, it proved to be he is the one who...

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【To the time of a coalition government】

〈A government of socialism was born in Japan?〉

When looking at his parents` house, it proved to be that he had nothing to do with a plutocracy and had lived in honest poverty.

『Column, Tomiichi Murayama』

He was born at a fishing village in Oita prefecture.While working in daytime, he graduated from Meiji university in the evening. After returning his hometown, he was engaged in a democratic movement in the local fishing village. After municipal and prefectural member of assembly, he became the member of the House of Representatives.

The political...

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【To the time of Coalition Party】

『Column, Tomiichi Murayama』

The political party of Murayama confronted and divided into right and left wing party then Murayama belonged to the left.

His eyebrow was so long and characteristic, and when being in the Prime Minister, there was a TV program of letting a talent cut his eyebrows, but he accepted it easily. He had an episode like that.

〈Though they used to be enemies each other, they joined hands〉

Everyone was surprised when the Murayama Cabinet was born, for Liberal Democratic Party and Socialist Party continued to confront under the 1955...

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【To the time of a coalition government】

〈Though they used to be enemies each other, they joined hands〉

Liberal Democratic Party and Socialist Party continued to confront under the 1955 system for a long time, but allied themselves and Liberal Democratic Party supported Socialist Party which was less than Liberal Democratic Party in relation to the number of seats in National Assembly.

On the day when the Murayama Cabinet was born, executives of Liberal Democratic Parry and Socialist Party had a pleasant chat each other on TV. As watching it, lots of the Japanese thought both of the...

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【To the time a coalition government】

〈Though they used to be enemies each other, they joined hands〉

As watching it, lots of the Japanese seemed to think both of the political parties were on good terms. They had been connected each other in secret. An image that everything was all right with regard to the coalition government in Japan spread out among the Japanese.

It may have been Ichiro Ozawa was the one who rendered the most distinguished service to the formation on the Murayama Cabinet. Both of the Liberal Democratic Party and Socialist Party hated Ichiro Ozawa, and their thought was...

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【To the time when a coalition government】

〈Though they used to enemies each other they joined hands〉

Their feeling of hating Ozawa was added and a political power of anti Ozawa was born. Why did it happen? We have to return the time when the Hosokawa Cabinet collapse.

〈Socialist Party left from the Hata Cabinet〉

Morihiro Hosokawa gave up his political power suddenly April in 1994, the political power of anti Liberal Democratic Party was confused. The political party of which leader was Tsutomu Hata was the center of the coalition government, so Hata was elected as Prime Minister, but ...

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【To the time of coalition government】

〈Socialist Party left from Hata political power〉

...but an unexpected thing happened then. The coalition government was formed with Socialist Party and other political parties. Except for Socialist Party, and Komeito, other political parties were combined as a single group.

Though they were separated political party outside National Assembly each other, they take into action as a single political party within National Assembly. Except for Socialist Party and Komeito, a new group was formed in the coalition government.

The number on the Diet member ...

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【To the time of a coalition government】

〈Socialist Party left from Hata Political Power〉

As to the number of Diet member on the new group was one hundred and thirty and it was more than Socialist Party of which number was seventy.

Though the number of Diet member on Socialist Party used to be more than any other political party in the coalition government, so it had the most powerful voice until then, so other political parties always had to have a respect for an intention from Socialist Party.

However as to a policy, Socialist Party was different from other political parties so much...

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【To the time a coalition government】

〈Socialist Party left from Hata political power〉

...that its adjustment often took more time than usual.

Then if making up a group which was more powerful than Socialist Party, the power relation among coalition government would be reversed, so it was a movement of setting up a encircling net around Socialist Party within coalition government.

Socialist Party was angry at the movement immediately after Hata political government was formed. Forming a group which was more powerful than Socialist Party and controlling coalition government, so Socialist...

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【To the time of a coalition government】

〈The Socialist Party left from Hata coalition political power〉

...so the Socialist Party became powerless. Moreover without consulting with the Socialist Party, it was done. It was a conspiracy, the Socialist Party thought like that, and its plan was thought up by Ichiro Ozawa, though it wasn`t actually.

In the time of Hosokawa Cabinet, Ozawa was in center of the political power, and he was often opposed to the Socialist Party, for his way of thinking was different from the Socialist Party with regard to the Self Defense Forces and the United Nations.

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【To the time of a coalition government】

〈Socialist Party left from Hata political power〉

Ozawa insisted that Japan should become an ordinary nation. His word of ordinary means that Japan should adopt a course that Japan became a permanent member of the U.N. Security Council and the Self Defense Forces joined the military force in the U.N.

It was different from the way of thinking by Socialist Party so much, and Ozawa pressed the Socialist Party to change its principle, as if he had said, if the Socialist Party refused it, it was all right even if the Socialist Party left from the...

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【To the time of Coalition government】

〈Socialist Party left from Hata political power〉

...it`s all right even if the Socialist Party left from the coalition government.

As a result the Socialist Party thought Ozawa schemed to get rid of the Socialist Party from the coalition government as Hata political power started, so the Socialist Party was indignant and left from the coalition government.

Therefore, except for the Socialist Party, Hata political power was forced to start, supported by minor ruling party below two hundred Diet Members.

『Column, Ichiro Ozawa』

He was from Iwate...

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【To the time of coalition party】

『Column, Ichiro Ozawa』

He was from Iwate prefecture, and went to Tokyo when he was in junior high school. His father was a Diet Member who was from Iwate prefecture, and was the Minister of Transport, or Postal Service one after another. His father was an influential person in politics.

He is well known to carry out a New Year`s card with a lottery number when being the Minister of Postal Service.

Ichiro was graduated from Keio University and aimed at being a lawyer, so was studying for a bar examination, but then his father was dead. Instead of his...

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【To the time of a coalition party】

『Column, Ichiro Ozawa』

Instead of his father, Ichiro ran for an election, and was elected a member of the House of Representatives when his age was twenty seven. He belonged to Tanaka faction in the Liberal Democratic Party.

Lots of people evaluate he was a statesman who carried through his convictions even if he was in difficulty. On the other hand he was poor at explaining to others his own conducts, so it was fact that other people who took into action together defected from him.

〈The entire Hata Cabinet resigned〉

Political foundation on Hata...

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【To the time of a coalition government】

〈The entire Hata Cabinet resigned〉

Political foundations on the Hata Cabinet was so weak that it came to a deadlock at once. Though a budget bill was formed, at the same time the Liberal Democratic Party which was the opposition party proposed a bill of no confidence against the Cabinet July in 1994.

If it was taken a vote, it would be approved, so the Hata Cabinet was forced to resign entirely before it was adopted. It was just for sixty four days when Hata held the Prime Minister. It was the third shortest Cabinet.

Hata tried to make his Cabinet...

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【To the time of a coalition cabinet】

〈The entire Hata Cabinet resigned〉

Hata made his entire Cabinet resigned for himself and tried to restore a good humor of the Socialist Party and after that he was going to build a coalition government including the Socialist Party again, for Wataru Kubo who was the chairperson in the Socialist Party insisted that the Hata Cabinet resigned voluntarily as condition that the Socialist Party returned.

On the other hand he considered an option disbanding the House of Representatives and increasing Diet members who supported the coalition cabinet, but if...

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【To the time of coalition cabinet】

〈The entire Hata Cabinet resigned〉

...but if making the House of Representatives disband then, he couldn`t carry out a new election system because it didn`t have enough time, for the election would be done with the former multi seat district conscience system, and there was a criticism that it would go against the political reform.

〈An earthshaking event! A coalition government was born〉

However the situation moved forward an unexpected direction, for the Liberal Democratic Party and the Socialist Party formed a coalition government then.

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【To the time of a coalition government】

〈An earthshaking event! A coalition government formed〉

The Liberal Democratic Party which fell into an opposition party underwent a sorrow as the opposition party.

When being in the ruling party, if wanting to know something and calling up the central bureaucracy, a bureaucrat rushed so as to explain it to him at once. At the time of a budget committee, negotiations between officials of the Ministry of Finance were done.

However the moment being in the opposition party, bureaucrats changed their attitudes. They didn`t come for an explanation easily.

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【To the time of a coalition government】

〈An earthshaking event! A coalition government was formed〉

The Liberal Democratic Party couldn`t interfere with an adjustment of the budget any more. A group for petitioning from a local area decreased sharply. Lots of the Diet members complained of their lots of time increased in the Member`s Hall.

Then they started to be worried about the next election. They were haunted by the fear whether or not eligible voters would desert them, for they voted them until then because they belonged to the ruling party, but they didn`t then.

Thus an operation ...

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【To the time of a coalition government】

〈Earthshaking events! A coalition government formed〉

Thus an operation for returning to the ruling party by the Liberal Democratic Party started. Its target was the Socialist Party.

The Liberal Democratic Party had a grudge against Ichiro Ozawa because Ozawa left from them, so the Liberal Democratic Party fell into the opposition party.

On the other hand, the Socialist Party thought Ozawa was hard on them when the political party was in the coalition government.

The Liberal Democratic Party took advantage of a feeling of anti Ozawa, and repeated...

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【To the time of a coalition government】

〈An earthshaking event! A coalition government was formed〉

...and repeated coming in touch with the Socialist Party in secret.

The Socialist Party should go on the coalition government with Hata or they should connect with the Liberal Democratic Party? There was difference a way of thinking between the right and left wing party.

Diet members on the right wing party didn`t reject Ozawa rather than the left, for Kubo chairperson thought that the Socialist Party returned to the coalition government as long as the Hata Cabinet resigned entirely.

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【To the time of a coalition government】

〈An earthshaking events! A coalition government was formed〉

On the other hand, a feeling of the Diet Members on the left wing party`s anti Ozawa was stronger, so they thought as Ozawa left from the Liberal Democratic Party, so the political party was in position of protecting constitution rather than Shinseito controlled by Ozawa.

The left wing party of the Socialist Party chose to join hands with the Liberal Democratic Party. Ironically, after the 1955 system collapsed, a feeling of anti Liberal Democratic Party had not been then.

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【To the time of a coalition government】

〈An earthshaking event! A coalition government was formed〉

The Liberal Democratic Party appealed to the Socialist Party on condition making a leader in the Socialist Party the Prime Minister, and formed a coalition government of the Liberal Democratic Party and the Socialist Party.

Then Shinto Sakigake made two of the political parties connect, playing a part in a glue, for two of them didn`t get along well together like oil and water. It`s the coalition government of the Liberal Democratic Party, Socialist Party, and Shinto Sakigake. An encircling...

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