Japanese Prime Minister Shinzo Abe sure picked his moment well as he called for a snap election to be held in mod-December, two years ahead of schedule.  His popularity is waning and his “Abe-nomics” economic reform package doesn’t seem to be working, as the world’s third-largest economy has fallen into recession.  But politically, it‘s actually a good idea.

In recent years, Japanese PMs have had a shelf life of around two years.  By calling the election now, Abe preempts his possible demise and gives himself a four-year extension to enact his agenda.  The opposition – Liberal, Moderate, and conservative – is stale, weak, and in disarray.  There is simply no candidate to rally the divided opposition to challenge the LDP party, which has ruled Japan for most of the past six decades since independence.  In fact, more credibility is paid to the opposing factions of the LDP than to opposition parties these days.

Abe will say that he needs a public mandate for even bolder economic reform, which will also rationalize his nationalist streak.  Abe has long wanted to remove the pacifist parts of Japan’s post-war constitution. 

“Abenomics” has thrown hundreds of billions of dollars t the economy in spending and in printing new money.  Last year, it seemed to be working.  But in April, a sales tax hike came online and kicked the knees out of consumer spending, and people stopped buying.  Abe also announced that he is putting off the second half of that sales tax hike from next year to 2017.