{"id":13674,"date":"2021-05-24T20:03:00","date_gmt":"2021-05-24T11:03:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=13674"},"modified":"2021-05-24T19:37:41","modified_gmt":"2021-05-24T10:37:41","slug":"%e3%82%a4%e3%83%b3%e3%83%95%e3%83%ac%e6%87%b8%e5%bf%b5%e3%81%8c%e6%a0%aa%e5%bc%8f%e5%b8%82%e5%a0%b4%e3%83%90%e3%83%96%e3%83%ab%e3%81%ae%e7%b5%82%e3%82%8f%e3%82%8a%e3%81%a7%e3%81%af%e3%81%aa%e3%81%84","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/13674","title":{"rendered":"\u30a4\u30f3\u30d5\u30ec\u61f8\u5ff5\u304c\u682a\u5f0f\u5e02\u5834\u30d0\u30d6\u30eb\u306e\u7d42\u308f\u308a\u3067\u306f\u306a\u3044\u7406\u7531"},"content":{"rendered":"\n<p>\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u73fe\u91d1\u7d66\u4ed8\u306a\u3069\u306e\u666f\u6c17\u523a\u6fc0\u306b\u3088\u308b\u7269\u4fa1\u9ad8\u9a30\u304c\u61f8\u5ff5\u3055\u308c\u3066\u304a\u308a\u3001\u682a\u5f0f\u5e02\u5834\u306f\u30b0\u30ed\u30fc\u30b9\u682a\u3092\u4e2d\u5fc3\u3068\u3057\u3066\u3084\u3084\u4e0d\u5b89\u5b9a\u306a\u72b6\u6cc1\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/13541\" data-type=\"post\" data-id=\"13541\">\u30b0\u30ed\u30fc\u30b9\u682a\u6025\u843d\u306e\u7406\u7531\u306f\u6b62\u307e\u3089\u306a\u3044\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u4e0a\u6607<\/a><\/li><\/ul>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4eca\u5f8c\u3069\u3046\u306a\u308b\u306e\u304b\u3068\u3044\u3046\u3053\u3068\u3082\u554f\u984c\u3060\u304c\u3001\u4eee\u306b\u30a4\u30f3\u30d5\u30ec\u304c\u6b62\u307e\u3089\u306a\u3044\u5834\u5408\u3001\u682a\u5f0f\u5e02\u5834\u306f\u3069\u3046\u306a\u308b\u306e\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>\u8457\u540d\u6295\u8cc7\u5bb6\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u6b62\u307e\u3089\u306a\u3044\u5834\u5408\u682a\u4fa1\u304c\u4e0b\u843d\u3059\u308b\u53ef\u80fd\u6027\u3092\u6307\u6458\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/13593\" data-type=\"post\" data-id=\"13593\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a4\u30f3\u30d5\u30ec\u304c\u6b62\u307e\u3089\u306a\u3051\u308c\u3070\u682a\u4fa1\u6025\u843d\u3078<\/a><\/li><\/ul>\n\n\n\n<p>\u3057\u304b\u3057\u7b46\u8005\u306e\u8003\u3048\u3067\u306f\u3053\u306e\u8868\u73fe\u306f\u53b3\u5bc6\u3067\u306f\u306a\u3044\u3002\u30a4\u30f3\u30d5\u30ec\u81ea\u4f53\u304c\u682a\u4fa1\u30d0\u30d6\u30eb\u306e\u7d42\u308f\u308a\u3092\u544a\u3052\u308b\u3053\u3068\u306f\u306a\u3044\u3060\u308d\u3046\u3002\u4eca\u56de\u306f\u3053\u306e\u3053\u3068\u306b\u3064\u3044\u3066\u6df1\u304f\u8003\u3048\u3066\u307f\u305f\u3044\u3002<\/p>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u682a\u4fa1\u306e\u95a2\u4fc2<\/strong><\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u3001\u3064\u307e\u308a\u7269\u4fa1\u306e\u9ad8\u9a30\u3068\u306f\u9006\u306b\u8a00\u3048\u3070\u8ca8\u5e63\uff08\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u30c9\u30eb\uff09\u306e\u4fa1\u5024\u304c\u4e0b\u304c\u308b\u3053\u3068\u3092\u610f\u5473\u3057\u3066\u3044\u308b\u3002\u3053\u306e\u74b0\u5883\u4e0b\u3067\u306f\u3001\u7d19\u5e63\u4ee5\u5916\u306e\u8ca1\u306e\u30c9\u30eb\u3067\u8868\u8a18\u3057\u305f\u4fa1\u683c\u304c\u4e0a\u304c\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u305d\u308c\u3067\u91d1\u878d\u5e02\u5834\u3067\u306f\u8cb4\u91d1\u5c5e\u3084\u7a40\u7269\u306a\u3069\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306e\u4fa1\u683c\u304c\u4e0a\u304c\u3063\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/12182\" data-type=\"post\" data-id=\"12182\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u7269\u4fa1\u9ad8\u9a30\u3092\u4e88\u60f3\u3001\u7c73\u56fd\u50b5\u3092\u7a7a\u58f2\u308a\u3001\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3092\u7206\u8cb7\u3044<\/a><\/li><\/ul>\n\n\n\n<p>\u3067\u306f\u682a\u5f0f\u306f\u3069\u3046\u3060\u308d\u3046\u304b\u3002\u682a\u5f0f\u3068\u306f\u4f1a\u793e\u306e\u6240\u6709\u6a29\u3067\u3042\u308a\u3001\u4f1a\u793e\u3068\u306f\u3044\u308f\u3070\u8cc7\u7523\u3092\u30d7\u30fc\u30eb\u3059\u308b\u5bb9\u308c\u7269\u306e\u3088\u3046\u306a\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3057\u305f\u304c\u3063\u3066\u682a\u5f0f\u306e\u4fa1\u5024\u306f\u305d\u306e\u4f1a\u793e\u306e\u4fdd\u6709\u3059\u308b\u3082\u306e\u306e\u4fa1\u5024\u306b\u3088\u3063\u3066\u6c7a\u307e\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u3053\u3053\u3067\u306f\u8cc7\u7523\u3068\u306f\u3001\u8cb8\u501f\u5bfe\u7167\u8868\u306b\u8f09\u308b\u3088\u3046\u306a\u73fe\u91d1\u3084\u4e0d\u52d5\u7523\u306a\u3069\u306e\u8cc7\u7523\u3060\u3051\u3067\u306f\u306a\u304f\u3001\u512a\u308c\u305f\u5f93\u696d\u54e1\u3092\u78ba\u4fdd\u3057\u3066\u3044\u308b\u3053\u3068\u3001\u53d6\u5f15\u5148\u3068\u306e\u95a2\u4fc2\u3001\u305d\u306e\u696d\u754c\u306b\u304a\u3051\u308b\u5148\u884c\u8005\u5229\u76ca\u306a\u3069\u69d8\u3005\u306a\u3082\u306e\u3092\u542b\u3081\u305f\u3044\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u4f1a\u793e\u304c\u4eee\u306b\u73fe\u91d1\u3057\u304b\u4fdd\u6709\u305b\u305a\u3001\u4f55\u306e\u4e8b\u696d\u3092\u3082\u884c\u306a\u3063\u3066\u3044\u306a\u3051\u308c\u3070\u3001\u305d\u306e\u682a\u5f0f\u306e\u4fa1\u5024\u306f\u4f1a\u793e\u304c\u4fdd\u6709\u3059\u308b\u73fe\u91d1\u306e\u4fa1\u5024\u306b\u7b49\u3057\u3044\u3002\u30c9\u30eb\u306b\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u305f\u3068\u3057\u3066\u3082\u3001\u30c9\u30eb\u5efa\u3066\u3067\u8868\u8a18\u3059\u308b\u305d\u306e\u682a\u5f0f\u306e\u4fa1\u683c\u306f\u5909\u308f\u3089\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u305d\u306e\u4f1a\u793e\u304c\u30b4\u30fc\u30eb\u30c9\u3092\u4fdd\u6709\u3059\u308b\u3060\u3051\u306e\u4f1a\u793e\u3067\u3042\u3063\u305f\u5834\u5408\u3001\u682a\u5f0f\u306e\u4fa1\u5024\u306f\u305d\u306e\u30b4\u30fc\u30eb\u30c9\u306e\u4fa1\u683c\u3068\u540c\u3058\u306b\u306a\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u524d\u306b100\u30c9\u30eb\u5206\u306e\u30b4\u30fc\u30eb\u30c9\u3092\u6301\u3063\u3066\u3044\u305f\u4f1a\u793e\u304c\u3042\u308a\u3001\u30b4\u30fc\u30eb\u30c9\u306e\u4fa1\u5024\u304c\u30a4\u30f3\u30d5\u30ec\u3067100\u30c9\u30eb\u304b\u3089150\u30c9\u30eb\u307e\u3067\u4e0a\u304c\u3063\u305f\u5834\u5408\u3001\u682a\u5f0f\u3082\u540c\u69d8\u306b100\u30c9\u30eb\u304b\u3089150\u30c9\u30eb\u307e\u3067\u4e0a\u304c\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u4f1a\u793e\u306b\u3082\u3088\u308b\u304c\u3001\u5b9f\u969b\u306b\u306f\u4f01\u696d\u3068\u306f\u73fe\u91d1\u3068\u73fe\u7269\u8cc7\u7523\u306e\u6df7\u5408\u4f53\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u5f93\u696d\u54e1\u3084\u53d6\u5f15\u5148\u3068\u306e\u95a2\u4fc2\u306a\u3069\u76ee\u306b\u898b\u3048\u306a\u3044\u8cc7\u7523\u3082\u30a4\u30f3\u30d5\u30ec\u3067\u30c9\u30eb\u5efa\u3066\u3067\u8a08\u7b97\u3057\u305f\u4fa1\u5024\u304c\u4e0a\u304c\u308b\u3068\u3044\u3046\u70b9\u3067\u306f\u540c\u3058\u3067\u3042\u308b\u3002\u3064\u307e\u308a\u30a4\u30f3\u30d5\u30ec\u306f\u4f1a\u793e\u306e\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u306f\uff08\u30c9\u30eb\u5efa\u3066\u3067\uff09\u57fa\u672c\u7684\u306b\u30d7\u30e9\u30b9\u306e\u8981\u56e0\u3068\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u682a\u5f0f\u306b\u306f\u300c\u5c06\u6765\u306e\u30ad\u30e3\u30b7\u30e5\u30d5\u30ed\u30fc\u300d\u3068\u3044\u3046\u73fe\u91d1\u306b\u306f\u306a\u3044\u8a08\u7b97\u8981\u7d20\u3082\u3042\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u306f1\u5e74\u3054\u3068\u306b\u30c9\u30eb\u306e\u4fa1\u5024\u3092\u6e1b\u4fa1\u3057\u3066\u3086\u304f\u306e\u3067\u3001\u9060\u3044\u672a\u6765\u3067\u3042\u308c\u3070\u3042\u308b\u307b\u3069\u305d\u306e\u53ce\u5165\u306e\u5b9f\u8cea\u7684\u4fa1\u5024\u306f\u6e1b\u3063\u3066\u3086\u304f\u3002\u9060\u3044\u5c06\u6765\u306e\u30c9\u30eb\u5efa\u3066\u53ce\u5165\u3092\u7e54\u308a\u8fbc\u3093\u3067\u4e0a\u6607\u3057\u3066\u3044\u305f\u30b0\u30ed\u30fc\u30b9\u682a\u304c\u30a4\u30f3\u30d5\u30ec\u3067\u8abf\u6574\u5c40\u9762\u306b\u5165\u3063\u3066\u3044\u308b\u306e\u306f\u305d\u308c\u304c\u7406\u7531\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u30d0\u30ea\u30e5\u30fc\u682a\u306f\u305d\u308c\u307b\u3069\u305d\u3046\u3057\u305f\u60aa\u5f71\u97ff\u3092\u53d7\u3051\u306a\u3044\u3060\u308d\u3046\u3002\u30c0\u30ea\u30aa\u6c0f\u306e\u73fe\u5728\u306e\u7c73\u56fd\u682a\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3082\u305d\u3046\u3057\u305f\u76ee\u7b97\u306b\u5f93\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/13662\" data-type=\"post\" data-id=\"13662\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u7c73\u56fd\u914d\u5f53\u682a\u6295\u8cc7\u3092\u5897\u984d\u3000\u91d1\u5229\u982d\u6253\u3061\u3092\u4e88\u60f3\u304b<\/a><\/li><\/ul>\n\n\n\n<p>\u3053\u308c\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u682a\u5f0f\u306b\u5bfe\u3059\u308b\u5f71\u97ff\u3067\u3042\u308b\u3002\u3064\u307e\u308a\u3001\u300c\u4ed6\u306e\u6761\u4ef6\u304c\u540c\u3058\u306a\u3089\u3070\u300d\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u3066\u3082\u30b0\u30ed\u30fc\u30b9\u682a\u3092\u9664\u304f\u682a\u5f0f\u306b\u3068\u3063\u3066\u306f\u305d\u308c\u307b\u3069\u60aa\u3044\u72b6\u6cc1\u3067\u306f\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u4ed6\u306e\u6761\u4ef6\u304c\u7570\u306a\u308c\u3070<\/strong><\/p>\n\n\n\n<p>\u3057\u304b\u3057\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u305f\u5834\u5408\u3001\u305d\u306e\u4ed6\u306e\u72b6\u6cc1\u306b\u3082\u5f71\u97ff\u3092\u53ca\u307c\u3059\u3002\u4ed6\u306e\u6761\u4ef6\u304c\u540c\u3058\u3067\u306a\u304f\u306a\u308b\u3068\u3044\u3046\u3053\u3068\u304c\u554f\u984c\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u682a\u5f0f\u5e02\u5834\u306b\u3068\u3063\u3066\u4e00\u756a\u61f8\u5ff5\u3055\u308c\u308b\u72b6\u6cc1\u306f\u4f55\u304b\u3002\u305d\u308c\u306f\u7269\u4fa1\u9ad8\u9a30\u3092\u61f8\u5ff5\u3057\u305f\u4e2d\u592e\u9280\u884c\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u6291\u3048\u308b\u305f\u3081\u306b\u5229\u4e0a\u3052\u3084\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306a\u3069\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u653f\u7b56\u3092\u884c\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306e\u5a01\u529b\u306b\u3064\u3044\u3066\u306f\u305d\u308c\u304c\u539f\u56e0\u3068\u306a\u3063\u305f2018\u5e74\u306e\u682a\u4fa1\u66b4\u843d\u3092\u601d\u3044\u8d77\u3053\u305b\u3070\u826f\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7959\" data-type=\"post\" data-id=\"7959\">\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u4e88\u60f3\u3067\u304d\u305f\u7406\u7531\u3068\u682a\u4fa1\u4e0b\u843d\u306e\u539f\u56e0 (2018\/10\/28)<\/a><\/li><\/ul>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u3001\u91d1\u878d\u653f\u7b56\u3001\u305d\u3057\u3066\u682a\u4fa1\u306e\u95a2\u4fc2\u306f\u3069\u3046\u3060\u308d\u3046\u304b\u3002\u3053\u308c\u3092\u691c\u8a3c\u3059\u308b\u305f\u3081\u306b\u306f\u904e\u53bb\u306e\u30a4\u30f3\u30d5\u30ec\u306b\u304a\u3051\u308b\u682a\u4fa1\u306e\u63a8\u79fb\u3092\u8003\u3048\u308c\u3070\u826f\u3044\u3002\u3064\u307e\u308a\u306f1970\u5e74\u4ee3\u304a\u3088\u30731980\u5e74\u4ee3\u306e\u30a2\u30e1\u30ea\u30ab\u306b\u304a\u3044\u3066\u682a\u4fa1\u304c\u3069\u3046\u306a\u3063\u305f\u304b\u3092\u8003\u3048\u308c\u3070\u826f\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u30671970\u5e74\u4ee3\u304b\u3089\u59cb\u307e\u3063\u305f\u30a4\u30f3\u30d5\u30ec\u306f1971\u5e74\u306b\u30cb\u30af\u30bd\u30f3\u5927\u7d71\u9818\u304c\u91d1\u672c\u4f4d\u5236\u5ea6\u3092\u653e\u68c4\u3057\u305f\u30cb\u30af\u30bd\u30f3\u30b7\u30e7\u30c3\u30af\u306b\u7aef\u3092\u767a\u3057\u3066\u3044\u308b\u3002\u5f53\u6642\u30a6\u30a9\u30fc\u30eb\u8857\u3067\u30a2\u30eb\u30d0\u30a4\u30c8\u3092\u3057\u3066\u3044\u305f\u3001\u5f8c\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u306e\u5e1d\u738b\u3001\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u5f53\u6642\u306e\u69d8\u5b50\u3092\u632f\u308a\u8fd4\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/9645\" data-type=\"post\" data-id=\"9645\">\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u3001\u300c\u73fe\u91d1\u304c\u30b4\u30df\u300d\u306b\u306a\u3063\u305f\u30cb\u30af\u30bd\u30f3\u30b7\u30e7\u30c3\u30af\u306e\u7d4c\u9a13\u3092\u8a9e\u308b<\/a><\/li><\/ul>\n\n\n\n<p>\u91d1\u672c\u4f4d\u5236\u5ea6\u306e\u5ec3\u6b62\u306f\u4eca\u3067\u8a00\u3046\u3068\u3053\u308d\u306e\u91cf\u7684\u7de9\u548c\u306b\u4f3c\u3066\u3044\u308b\u3002\u30c9\u30eb\u306e\u4fa1\u5024\u3092\u610f\u56f3\u7684\u306b\u5e0c\u91c8\u3057\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u7d50\u679c\u3068\u3057\u3066\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u7de9\u3084\u304b\u306b\u4e0a\u6607\u3057\u30011974\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u7b2c1\u6ce2\u306712%\u30011980\u5e74\u306e\u7b2c2\u6ce2\u306714%\u307e\u3067\u4e0a\u6607\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3055\u3066\u3001\u3053\u3053\u304b\u3089\u304c\u672c\u756a\u3067\u3042\u308b\u3002\u4ee5\u4e0b\u306e\u30c1\u30e3\u30fc\u30c8\u306f\u73fe\u5728\u306e\u72b6\u6cc1\u3068\u540c\u3058\u304f\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u308a\u59cb\u3081\u305f1974\u5e74\u306e\u7b2c1\u6ce2\u306e\u524d\u5f8c\u3067\u682a\u4fa1\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u3001\u653f\u7b56\u91d1\u5229\u304c\u305d\u308c\u305e\u308c\u3069\u3046\u52d5\u3044\u305f\u304b\u3092\u8868\u3057\u305f\u3082\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/05\/1970s-nasdaq-us-cpi-growth-and-federal-funds-rate-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"555\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/05\/1970s-nasdaq-us-cpi-growth-and-federal-funds-rate-chart.png\" alt=\"\" class=\"wp-image-13677\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/05\/1970s-nasdaq-us-cpi-growth-and-federal-funds-rate-chart.png 555w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2021\/05\/1970s-nasdaq-us-cpi-growth-and-federal-funds-rate-chart-300x253.png 300w\" sizes=\"auto, (max-width: 555px) 100vw, 555px\" \/><\/a><\/figure>\n\n\n\n<p>\u682a\u4fa1\u306f1973\u5e74\u9803\u304b\u3089\u6025\u843d\u3057\u3066\u3044\u308b\u3002\u4e00\u65b9\u3067\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u540c\u6642\u306b\u653f\u7b56\u91d1\u5229\u3082\u6025\u4e0a\u6607\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u6ce8\u76ee\u3057\u305f\u3044\u3002\u5f53\u6642\u306e\u4e2d\u592e\u9280\u884c\u306f\u30a4\u30f3\u30d5\u30ec\u3092\u8a31\u3055\u306a\u304b\u3063\u305f\u3002\u30a4\u30f3\u30d5\u30ec\u306e\u6c17\u914d\u3092\u611f\u3058\u308b\u3068\u4e2d\u592e\u9280\u884c\u306f\u5373\u5ea7\u306b\u5229\u4e0a\u3052\u3092\u3057\u305f\u3002\u305d\u3057\u3066\u7b46\u8005\u306e\u8003\u3048\u3067\u306f\u3001\u682a\u5f0f\u5e02\u5834\u306f\u30a4\u30f3\u30d5\u30ec\u3088\u308a\u3082\u6025\u6fc0\u306a\u5229\u4e0a\u3052\u306b\u53cd\u5fdc\u3057\u3066\u4e0b\u843d\u3057\u3066\u3044\u3063\u305f\u3002<\/p>\n\n\n\n<p><strong>\u73fe\u4ee3\u306e\u76f8\u5834\u3068\u30a4\u30f3\u30d5\u30ec<\/strong><\/p>\n\n\n\n<p>\u3057\u304b\u3057\u73fe\u5728\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u4e2d\u592e\u9280\u884c\u306e\u8b70\u9577\u3092\u52d9\u3081\u308b\u30d1\u30a6\u30a8\u30eb\u6c0f\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u8105\u5a01\u3092\u7121\u8996\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/13428\" data-type=\"post\" data-id=\"13428\">4\u6708FOMC\u4f1a\u5408\u7d50\u679c: \u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306e\u30a4\u30f3\u30d5\u30ec\u7121\u8996\u306f\u7d9a\u304f\u3000\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30d0\u30d6\u30eb\u7d99\u7d9a\u3078<\/a><\/li><\/ul>\n\n\n\n<p>\u4f55\u6545\u304b\u3068\u8a00\u3048\u3070\u3001\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u81ea\u5206\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c2018\u5e74\u306e\u682a\u4fa1\u66b4\u843d\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u3053\u3068\u304c\u30c8\u30e9\u30a6\u30de\u306b\u306a\u3063\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002\u5f7c\u306f\u3082\u3046\u5bb9\u6613\u306b\u91d1\u878d\u5f15\u304d\u7de0\u3081\u304c\u51fa\u6765\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7959\">\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u4e88\u60f3\u3067\u304d\u305f\u7406\u7531\u3068\u682a\u4fa1\u4e0b\u843d\u306e\u539f\u56e0 (2018\/10\/28)<\/a><\/li><\/ul>\n\n\n\n<p>\u3082\u3057\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u3066\u3082\u4e2d\u592e\u9280\u884c\u304c\u5229\u4e0a\u3052\u3092\u884c\u308f\u306a\u3044\u306a\u3089\u3070\u682a\u4fa1\u306f\u3069\u3046\u306a\u308b\u304b\u3002\u305d\u308c\u304c\u4eca\u56de\u306e\u8a18\u4e8b\u306e\u4e3b\u984c\u3067\u3042\u308b\u3002\u4e0a\u8a18\u306e\u8003\u5bdf\u304b\u3089\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u81ea\u4f53\u306f\u5fc5\u305a\u3057\u3082\u682a\u4fa1\u306b\u3068\u3063\u3066\u30de\u30a4\u30ca\u30b9\u3067\u306f\u306a\u304f\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3092\u4f34\u308f\u306a\u3044\u30a4\u30f3\u30d5\u30ec\u3067\uff08\u30b0\u30ed\u30fc\u30b9\u682a\u3092\u9664\u304f\uff09\u682a\u4fa1\u304c\u66b4\u843d\u3059\u308b\u3053\u3068\u306f\u306a\u3044\u3068\u7d50\u8ad6\u3057\u305f\u3044\u3002\u3064\u307e\u308a\u3001\u682a\u4fa1\u3092\u66b4\u843d\u3055\u305b\u308b\u306e\u306f\u30a4\u30f3\u30d5\u30ec\u3067\u306f\u306a\u304f\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u5f15\u304d\u91d1\u3068\u306a\u308b\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u305d\u306e\u4ed6\u306e\u76f8\u5834\u898b\u901a\u3057<\/strong><\/p>\n\n\n\n<p>\u3057\u304b\u3057\u7b46\u8005\u306b\u3068\u3063\u3066\u91cd\u8981\u306a\u306e\u306f\u682a\u4fa1\u3088\u308a\u3082\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3068\u6697\u53f7\u901a\u8ca8\u306e\u76f8\u5834\u898b\u901a\u3057\u3067\u3042\u308b\u3002\u682a\u4fa1\u306f\u73fe\u5728\u30a4\u30f3\u30d5\u30ec\u61f8\u5ff5\u3068\u3044\u3046\u3088\u308a\u3082\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u304c\u9ad8\u304f\u306a\u3063\u305f\u3053\u3068\u3067\u4e0a\u5024\u304c\u91cd\u304f\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u5927\u3057\u3066\u554f\u984c\u8996\u3057\u3066\u3044\u306a\u3044\u3002\u305d\u308c\u306f\u666e\u901a\u306e\u5024\u52d5\u304d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u3001\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u4e0a\u6607\u3057\u3066\u304d\u305f\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5e02\u5834\uff08\u6697\u53f7\u901a\u8ca8\u542b\u3080\uff09\u306b\u3064\u3044\u3066\u3001\u4f55\u4eba\u304b\u306e\u8457\u540d\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u304c\u3053\u308c\u307e\u3067\u597d\u8abf\u3060\u3063\u305f\u3053\u308c\u3089\u306e\u9298\u67c4\u306e\u8abf\u6574\u3092\u793a\u5506\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/13605\" data-type=\"post\" data-id=\"13605\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30d3\u30c3\u30c8\u30b3\u30a4\u30f3\u3068\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306f\u8abf\u6574\u3078<\/a><\/li><\/ul>\n\n\n\n<p>\u77ed\u671f\u7684\u306b\u306f\u5f7c\u3089\u306e\u8003\u5bdf\u304c\u5f79\u306b\u7acb\u3064\u3060\u308d\u3046\u3002\u3057\u304b\u3057\u9577\u671f\u898b\u901a\u3057\u306f\u3069\u3046\u3060\u308d\u3046\u304b\u3002\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30d0\u30d6\u30eb\u3068\u305d\u308c\u306b\u4ed8\u968f\u3059\u308b\u6697\u53f7\u901a\u8ca8\u30d0\u30d6\u30eb\u306f\u3053\u3053\u304c\u9802\u70b9\u306a\u306e\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p>\u7b46\u8005\u306e\u8003\u3048\u3067\u306f\u3001\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3068\u6697\u53f7\u901a\u8ca8\u306e\u9577\u671f\u7684\u306a\u4e0a\u6607\u76f8\u5834\u306e\u9802\u4e0a\u306f\u682a\u5f0f\u5e02\u5834\u306b\u3068\u3069\u3081\u304c\u523a\u3055\u308c\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u3001\u3064\u307e\u308a\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u5371\u967a\u6027\u3092\u8a8d\u3081\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u5fc5\u8981\u6027\u306b\u3064\u3044\u3066\u8a9e\u308a\u59cb\u3081\u308b\u9803\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u4e0a\u306b\u8ff0\u3079\u305f\u7406\u7531\u306b\u3088\u308a\u305d\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u306f\u307e\u3060\u5c11\u3057\u5148\u3067\u3042\u308b\u3002\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u73fe\u5b9f\u9003\u907f\u3092\u3057\u3066\u3044\u308b\u9593\u306f\u9577\u671f\u7684\u306b\u306f\u4e0a\u6607\u30c8\u30ec\u30f3\u30c9\u306f\u7d99\u7d9a\u3059\u308b\u3002<\/p>\n\n\n\n<p>\u9577\u671f\u7684\u306a\u898b\u901a\u3057\u3092\u898b\u5931\u308f\u306a\u3044\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306f\u3001\u77ed\u671f\u7684\u306a\u4e0b\u843d\u306f\u597d\u6a5f\u3068\u306a\u308b\u3002\u4e00\u65b9\u3067\u9577\u671f\u7684\u306a\u5929\u4e95\u306f\u3044\u3064\u304b\u3002\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u304c\u3044\u3064\u81ea\u5206\u306e\u8aa4\u308a\u306b\u6c17\u4ed8\u304f\u304b\u3069\u3046\u304b\u306b\u3064\u3044\u3066\u306f\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u7d71\u8a08\u6b21\u7b2c\u3060\u308d\u3046\u3002\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3092\u53c2\u8003\u306b\u3055\u308c\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/13653\" data-type=\"post\" data-id=\"13653\">\u30a2\u30e1\u30ea\u30ab\u3067\u30a4\u30f3\u30d5\u30ec\u6b62\u307e\u3089\u305a\u30014\u6708\u306f\u5e74\u73879.6%<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u73fe\u91d1\u7d66\u4ed8\u306a\u3069\u306e\u666f\u6c17\u523a\u6fc0\u306b\u3088\u308b\u7269\u4fa1\u9ad8\u9a30\u304c\u61f8\u5ff5\u3055\u308c\u3066\u304a\u308a\u3001\u682a\u5f0f\u5e02\u5834\u306f\u30b0\u30ed\u30fc\u30b9\u682a\u3092\u4e2d\u5fc3\u3068\u3057\u3066\u3084\u3084\u4e0d\u5b89\u5b9a\u306a\u72b6\u6cc1\u3068\u306a\u3063\u3066\u3044\u308b\u3002 \u30b0\u30ed\u30fc\u30b9\u682a\u6025\u843d\u306e\u7406\u7531\u306f\u6b62\u307e\u3089\u306a\u3044\u671f\u5f85\u30a4\u30f3\u30d5\u30ec\u7387\u4e0a\u6607 \u30a4\u30f3\u30d5\u30ec\u7387\u304c\u4eca\u5f8c\u3069\u3046\u306a\u308b\u306e\u304b\u3068\u3044\u3046\u3053\u3068 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/13674\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30a4\u30f3\u30d5\u30ec\u61f8\u5ff5\u304c\u682a\u5f0f\u5e02\u5834\u30d0\u30d6\u30eb\u306e\u7d42\u308f\u308a\u3067\u306f\u306a\u3044\u7406\u7531<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59,164,111,57],"tags":[],"class_list":["post-13674","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-cryptocurrencies","category-stock-markets","category-commodity-markets"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/13674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/comments?post=13674"}],"version-history":[{"count":21,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/13674\/revisions"}],"predecessor-version":[{"id":13696,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/13674\/revisions\/13696"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=13674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=13674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=13674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}