{"id":27713,"date":"2022-08-31T20:02:17","date_gmt":"2022-08-31T11:02:17","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=27713"},"modified":"2022-08-31T20:02:17","modified_gmt":"2022-08-31T11:02:17","slug":"%e3%82%a4%e3%83%b3%e3%83%95%e3%83%ac%e3%81%a7%e6%a0%aa%e4%be%a1%e3%81%8c%e6%9a%b4%e8%90%bd%e3%81%99%e3%82%8b%e7%90%86%e7%94%b1%e3%81%a8%e3%82%bf%e3%82%a4%e3%83%9f%e3%83%b3%e3%82%b0%e3%82%92%e4%ba%88","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27713","title":{"rendered":"\u30a4\u30f3\u30d5\u30ec\u3067\u682a\u4fa1\u304c\u66b4\u843d\u3059\u308b\u7406\u7531\u3068\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u4e88\u60f3\u3059\u308b\u65b9\u6cd5"},"content":{"rendered":"\n<p>\u524d\u56de\u306e\u8a18\u4e8b\u3067\u306f\u3001\u682a\u5f0f\u6295\u8cc7\u306f\u9577\u671f\u7684\u306b\u306f\u307b\u307c\u5132\u304b\u308b\u3068\u3044\u3046\u4e3b\u5f35\u306f\u4e8b\u5b9f\u3067\u306f\u306a\u304f\u3001\u6b63\u78ba\u306b\u306f\u30c7\u30d5\u30ec\u3068\u91d1\u878d\u7de9\u548c\u306e\u6642\u671f\u306b\u9650\u308c\u3070\u6b63\u3057\u3044\u3068\u3044\u3046\u3053\u3068\u3092\u8aac\u660e\u3057\u305f\u3002\u7c73\u56fd\u682a\u304c\u904e\u53bb40\u5e74\u4e0a\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u306e\u3082\u305d\u308c\u304c\u7406\u7531\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27644\" data-type=\"post\" data-id=\"27644\">\u300c\u682a\u5f0f\u6295\u8cc7\u306f\u9577\u671f\u7684\u306b\u306f\u307b\u307c\u5132\u304b\u308b\u300d\u3068\u3044\u3046\u4e3b\u5f35\u304c\u5b8c\u5168\u306b\u9593\u9055\u3063\u3066\u3044\u308b\u7406\u7531<\/a><\/li><\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u540c\u6642\u306b\u305d\u308c\u306f\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306e\u6642\u4ee3\u306b\u304a\u3044\u3066\u306f\u307e\u3063\u305f\u304f\u6b63\u3057\u304f\u306a\u3044\u3002\u3088\u3063\u3066\u4eca\u56de\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u6642\u4ee3\u306b\u682a\u5f0f\u5e02\u5834\u304c\u3069\u3046\u306a\u308b\u304b\u3068\u3044\u3046\u3053\u3068\u3092\u898b\u3066\u3086\u304d\u305f\u3044\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u878d\u7de9\u548c<\/strong><\/p>\n\n\n\n<p>\u91d1\u878d\u7de9\u548c\u3068\u306f\u5927\u96d1\u628a\u306b\u8a00\u3048\u3070\u91d1\u5229\u3092\u7121\u7406\u77e2\u7406\u4e0b\u3052\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u91d1\u5229\u3092\u4e0b\u3052\u308c\u3070\u682a\u4fa1\u306f\u4e0a\u304c\u308b\u304c\u3001\u3044\u305a\u308c\u30a4\u30f3\u30d5\u30ec\u304c\u751f\u3058\u3001\u91d1\u5229\u3092\u4e0b\u3052\u3089\u308c\u306a\u304f\u306a\u308b\u6642\u304c\u304f\u308b\u3002<\/p>\n\n\n\n<p>\u73fe\u5728\u306e\u72b6\u6cc1\u3067\u8a00\u3048\u3070\u30011981\u5e74\u306e\u30ec\u30fc\u30ac\u30f3\u5927\u7d71\u9818\u306e\u6642\u4ee3\u4ee5\u964d\u300140\u5e74\u4ee5\u4e0a\u91d1\u878d\u7de9\u548c\u3092\u3084\u3063\u3066\u304d\u305f\u306e\u3067\u300140\u5e74\u9593\u7121\u7406\u77e2\u7406\u682a\u4fa1\u3092\u6301\u3061\u4e0a\u3052\u3066\u304d\u305f\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306e\u9577\u671f\u91d1\u5229\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306b40\u5e74\u4e0b\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/2022-8-30-us-10-year-treasury-bond-yield-long-term-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"468\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/2022-8-30-us-10-year-treasury-bond-yield-long-term-chart.png\" alt=\"\" class=\"wp-image-27682\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/2022-8-30-us-10-year-treasury-bond-yield-long-term-chart.png 468w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/2022-8-30-us-10-year-treasury-bond-yield-long-term-chart-300x300.png 300w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/2022-8-30-us-10-year-treasury-bond-yield-long-term-chart-150x150.png 150w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/2022-8-30-us-10-year-treasury-bond-yield-long-term-chart-120x120.png 120w\" sizes=\"auto, (max-width: 468px) 100vw, 468px\" \/><\/a><\/figure>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u306e\u91d1\u878d\u7de9\u548c\u306b\u3088\u308b\u682a\u4fa1\u30d0\u30d6\u30eb\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u751f\u3058\u305f\u3053\u3068\u306b\u3088\u3063\u3066\u5371\u6a5f\u306b\u7015\u3057\u3066\u3044\u308b\u3002\u7269\u4fa1\u304c\u9ad8\u9a30\u3057\u3066\u3044\u308b\u4e2d\u3067\u91d1\u878d\u7de9\u548c\u3092\u3059\u308b\u3068\u3001\u7269\u4fa1\u306f\u9752\u5929\u4e95\u306b\u4e0a\u304c\u3063\u3066\u3086\u304d\u3001\u8ab0\u3082\u3082\u306e\u3092\u8cb7\u3048\u306a\u304f\u306a\u308b\u304b\u3089\u3067\u3042\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u306f\u4eca\u3084\u4e16\u754c\u7684\u73fe\u8c61\u3068\u306a\u3063\u3066\u3044\u308b\u304c\u3001\u30e8\u30fc\u30ed\u30c3\u30d1\u3067\u306f\u7279\u306b\u72b6\u6cc1\u304c\u9177\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/26963\" data-type=\"post\" data-id=\"26963\">\u30b9\u30da\u30a4\u30f3\u3001\u8131\u70ad\u7d20\u306b\u3088\u308b\u96fb\u529b\u4e0d\u8db3\u3067\u51b7\u623f\u309227\u5ea6\u672a\u6e80\u306b\u3059\u308b\u3053\u3068\u3092\u7981\u6b62<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27319\" data-type=\"post\" data-id=\"27319\">EU\u3001\u98df\u6599\u4fa1\u683c\u9ad8\u9a30\u306e\u6700\u4e2d\u3001\u4ee3\u66ff\u98df\u54c1\u3068\u3057\u3066\u30c8\u30ce\u30b5\u30de\u30d0\u30c3\u30bf\u3092\u63a8\u5968<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u91d1\u878d\u5f15\u304d\u7de0\u3081<\/strong><\/p>\n\n\n\n<p>40\u5e74\u9593\u682a\u4fa1\u3092\u652f\u3048\u3066\u304d\u305f\u91d1\u878d\u7de9\u548c\u304c\u306a\u304f\u306a\u308c\u3070\u682a\u5f0f\u5e02\u5834\u306f\u3069\u3046\u306a\u3063\u3066\u3057\u307e\u3046\u306e\u304b\uff1f\u3000\u4eba\u3005\u304c\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u3053\u308c\u304b\u3089\u5b66\u3076\u3053\u3068\u306f\u3001\u682a\u4fa1\u3092\u7121\u7406\u77e2\u7406\u6301\u3061\u4e0a\u3052\u305f\u5206\u306e\u30c4\u30b1\u306f\u3044\u3064\u304b\u6255\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u3053\u308c\u307e\u3067\u306f\u682a\u4fa1\u304c\u66b4\u843d\u3059\u308c\u3070\u76f4\u3061\u306b\u7de9\u548c\u3092\u3057\u3001\u682a\u4fa1\u306f\u3059\u3050\u306b\u56de\u5fa9\u3057\u3066\u304d\u305f\u306e\u3067\u300140\u5e74\u9593\u7c73\u56fd\u682a\u306f\u30c4\u30b1\u3092\u6255\u3046\u3053\u3068\u304c\u306a\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u9006\u306b\u8a00\u3048\u3070\u3001\u7c73\u56fd\u682a\u306e\u4eca\u306e\u6c34\u6e96\u306f40\u5e74\u5206\u306e\u30c4\u30b1\u304c\u6e9c\u307e\u3063\u305f\u6975\u3081\u3066\u5371\u967a\u306a\u72b6\u614b\u306b\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u682a\u4fa1\u306e\u5d29\u58ca\u304c\u59cb\u307e\u3063\u3066\u3082\u4e2d\u592e\u9280\u884c\u304c\u52a9\u3051\u306b\u6765\u3066\u304f\u308c\u308b\u3053\u3068\u306f\u3082\u3046\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/25879\" data-type=\"post\" data-id=\"25879\">\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f: \u682a\u4fa1\u304c\u66b4\u843d\u3057\u3066\u3082\u4e2d\u592e\u9280\u884c\u306f\u3082\u3046\u52a9\u3051\u306b\u6765\u3089\u308c\u306a\u3044<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304b\u308940\u5e74\u5206\u306e\u7de9\u548c\u30d0\u30d6\u30eb\u304c\u5d29\u58ca\u3059\u308b\u3068\u304d\u3001\u305d\u308c\u3092\u6b62\u3081\u3089\u308c\u308b\u3082\u306e\u306f\u4f55\u3082\u306a\u3044\u3002\u3060\u304c\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u554f\u984c\u306a\u306e\u306f\u3001\u30d0\u30d6\u30eb\u304c\u3044\u3064\u3069\u306e\u3088\u3046\u306b\u5f3e\u3051\u308b\u304b\u3068\u3044\u3046\u3053\u3068\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u3044\u3046\u9577\u671f\u76f8\u5834<\/strong><\/p>\n\n\n\n<p>\u4f8b\u3048\u3070\u524d\u56de\u30a2\u30e1\u30ea\u30ab\u3067\u7269\u4fa1\u9ad8\u9a30\u304c\u8d77\u3053\u3063\u305f\u306e\u306f\u3001\u4e0a\u3067\u8a00\u53ca\u3057\u305f1981\u5e74\u3088\u308a\u524d\u30011970\u5e74\u4ee3\u306e\u7269\u4fa1\u9ad8\u9a30\u6642\u4ee3\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u305d\u306e\u30a4\u30f3\u30d5\u30ec\u306f10\u5e74\u4ee5\u4e0a\u7d9a\u3044\u305f\u3002\u5f53\u6642\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/01\/1970s-us-cpi-growth-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"489\" height=\"468\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/01\/1970s-us-cpi-growth-chart.png\" alt=\"\" class=\"wp-image-18864\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/01\/1970s-us-cpi-growth-chart.png 489w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/01\/1970s-us-cpi-growth-chart-300x287.png 300w\" sizes=\"auto, (max-width: 489px) 100vw, 489px\" \/><\/a><\/figure>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u304c3\u3064\u306e\u6ce2\u3068\u306a\u3063\u3066\u30a2\u30e1\u30ea\u30ab\u3092\u8972\u3063\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002\u3053\u308c\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u307e\u305a\u8d77\u3053\u308a\u3001\u7269\u4fa1\u6291\u5236\u306e\u305f\u3081\u306b\u4e2d\u592e\u9280\u884c\u304c\u91d1\u878d\u653f\u7b56\u3092\u5f15\u304d\u7de0\u3081\u305f\u3053\u3068\u306b\u3088\u3063\u3066\u666f\u6c17\u5f8c\u9000\u304c\u767a\u751f\u3001\u3059\u308b\u3068\u6b21\u306f\u7de9\u548c\u306b\u8ee2\u3058\u3001\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3078\u3068\u7e4b\u304c\u3063\u3066\u3086\u304f\u3002\u3053\u308c\u304c\u7e70\u308a\u8fd4\u3055\u308c\u305f\u305f\u3081\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30b3\u30ed\u30ca\u4ee5\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u3082\u3053\u306e\u3088\u3046\u306b\u306a\u308b\u3068\u7b46\u8005\u306f\u53bb\u5e74\u306e\u6642\u70b9\u3067\u4e88\u60f3\u3057\u3001\u305d\u306e\u5f8c\u8457\u540d\u4eba\u3089\u304c\u8ffd\u968f\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/17958\" data-type=\"post\" data-id=\"17958\">\u73fe\u5728\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u9ad8\u9a30\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c1\u6ce2\u306b\u904e\u304e\u306a\u3044 (2021\/12\/6)<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24285\" data-type=\"post\" data-id=\"24285\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u73fe\u5728\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u7269\u4fa1\u9ad8\u9a30\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c1\u6ce2\u306b\u904e\u304e\u306a\u3044 (2022\/5\/14)<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u682a\u4fa1\u66b4\u843d<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u3067\u306f\u5f53\u6642\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u671f\u9593\u306b\u682a\u4fa1\u306f\u3069\u3046\u306a\u3063\u3066\u3044\u305f\u306e\u304b\uff1f\u3000\u305a\u3063\u3068\u4e0b\u304c\u308a\u7d9a\u3051\u3066\u3044\u305f\u306e\u304b\uff1f<\/p>\n\n\n\n<p>1970\u5e74\u4ee3\u306e\u5b9f\u4f8b\u3092\u898b\u3066\u307f\u3088\u3046\u3002\u4e0a\u3052\u76f8\u5834\u306f\u5f90\u3005\u306b\u84c4\u7a4d\u3057\u3066\u3086\u304f\u304c\u3001\u4e0b\u3052\u76f8\u5834\u306f\u4e00\u6c17\u3067\u3042\u308b\u3002\u5b9f\u969b\u306b\u306f\u4e0a\u8a18\u306e\u3088\u3046\u306b\u7269\u4fa1\u304c\u4e0a\u6607\u3057\u7d9a\u3051\u305f1970\u5e74\u4ee3\u3001\u682a\u4fa1\u304c\u66b4\u843d\u3057\u305f\u306e\u306f\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u304c\u3042\u3063\u305f1974\u5e74\u3060\u3063\u305f\u30021970\u5e74\u4ee3\u306eS&amp;P 500\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u4ee5\u4e0b\u306b\u63b2\u8f09\u3059\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1970s-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"716\" height=\"487\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1970s-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-23930\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1970s-s-and-p-500-chart.png 716w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/05\/1970s-s-and-p-500-chart-300x204.png 300w\" sizes=\"auto, (max-width: 716px) 100vw, 716px\" \/><\/a><\/figure>\n\n\n\n<p>\u307e\u305a1974\u5e74\u306b\u682a\u4fa1\u304c120\u30c9\u30eb\u304b\u308960\u30c9\u30eb\u8fd1\u304f\u307e\u3067\u307b\u307c\u534a\u6e1b\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002\u305d\u3057\u30661970\u5e74\u4ee3\u3092\u901a\u3057\u3066\u682a\u4fa1\u306f\u307b\u307c\u6a2a\u3070\u3044\u3068\u306a\u3063\u3066\u3044\u308b\u3002\uff08\u5b9f\u969b\u306b\u306f\u307e\u3063\u305f\u304f\u6a2a\u3070\u3044\u3067\u306f\u306a\u3044\u306e\u3060\u304c\u3001\u305d\u306e\u3053\u3068\u306f\u5f8c\u8ff0\u3059\u308b\u3002\uff09<\/p>\n\n\n\n<p><strong>1974\u5e74\u306e\u682a\u4fa1\u66b4\u843d<\/strong><\/p>\n\n\n\n<p>\u307e\u305a\u306f1974\u5e74\u306e\u66b4\u843d\u304b\u3089\u8003\u3048\u3066\u3086\u3053\u3046\u3002\u30a4\u30f3\u30d5\u30ec\u306f1970\u5e74\u4ee3\u3092\u901a\u3057\u3066\u8d77\u3053\u3063\u3066\u3044\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u4f55\u6545\u7b2c2\u6ce2\u306e\u3042\u3063\u305f1974\u5e74\u306b\u682a\u4fa1\u306f\u66b4\u843d\u3057\u305f\u306e\u304b\uff1f\u3000\u73fe\u5728\u306e\u30a4\u30f3\u30d5\u30ec\u304c\u7b2c1\u6ce2\u3067\u3042\u308b\u3053\u3068\u3092\u8003\u3048\u308c\u3070\u3001\u4eca\u56de\u306e\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u3067\u306f\u682a\u4fa1\u66b4\u843d\u306f\u307e\u3060\u5148\u3068\u3044\u3046\u3053\u3068\u3060\u308d\u3046\u304b\uff1f<\/p>\n\n\n\n<p>\u682a\u4fa1\u306e\u57fa\u672c\u3092\u3082\u3046\u4e00\u5ea6\u601d\u3044\u51fa\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002\u682a\u4fa1\u306b\u5927\u304d\u304f\u5f71\u97ff\u3059\u308b\u8981\u7d20\u306f\u5927\u96d1\u628a\u306b\u8a00\u3063\u30662\u3064\u3042\u308a\u30011\u3064\u306f\u91d1\u5229\u3001\u3082\u30461\u3064\u306f\u4f01\u696d\u5229\u76ca\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u5185\u91d1\u5229\u306f1970\u5e74\u4ee3\u3092\u901a\u3057\u3066\u4e0a\u304c\u308a\u7d9a\u3051\u3066\u3044\u308b\u3002\u4e00\u65b9\u3067\u4f01\u696d\u5229\u76ca\u3092\u898b\u3066\u307f\u308b\u3068\u30011974\u5e74\u306b\u7279\u7570\u306a\u73fe\u8c61\u304c\u8d77\u3053\u3063\u3066\u3044\u308b\u3002\u5f53\u6642\u306e\u4f01\u696d\u5229\u76ca\u306e\u30b0\u30e9\u30d5\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/1970s-us-corporate-profit-after-tax-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"505\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/1970s-us-corporate-profit-after-tax-chart.png\" alt=\"\" class=\"wp-image-27736\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/1970s-us-corporate-profit-after-tax-chart.png 505w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/08\/1970s-us-corporate-profit-after-tax-chart-300x277.png 300w\" sizes=\"auto, (max-width: 505px) 100vw, 505px\" \/><\/a><\/figure>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u306e\u671f\u9593\u306b\u304a\u3044\u30661974\u5e74\u306b\u306e\u307f\u4f01\u696d\u5229\u76ca\u304c\u6e1b\u5c11\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002\uff081981\u5e74\u4ee5\u5f8c\u3082\u6e1b\u5c11\u3057\u3066\u3044\u308b\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u7d42\u4e86\u3057\u3066\u304a\u308a\u91d1\u5229\u4e0a\u6607\u304c\u6b62\u307e\u3063\u3066\u3044\u308b\u306e\u3067\u5225\u306e\u671f\u9593\u3067\u3042\u308b\u3002\uff09<\/p>\n\n\n\n<p>\u3057\u304b\u3082\u898b\u8b58\u306e\u3042\u308b\u8aad\u8005\u3067\u3042\u308c\u3070\u3053\u308c\u304c\u305f\u3060\u306e\u4f01\u696d\u5229\u76ca\u6e1b\u5c11\u3067\u306f\u306a\u3044\u3053\u3068\u304c\u5206\u304b\u308b\u3060\u308d\u3046\u3002\u3053\u306e\u7269\u4fa1\u9ad8\u9a30\u306e\u671f\u9593\u306f\u6700\u5927\u3067\u30a4\u30f3\u30d5\u30ec\u7387\u304c15%\u8fd1\u304f\u307e\u3067\u4e0a\u304c\u3063\u305f\u6642\u671f\u3067\u3042\u308a\u3001\u4f01\u696d\u5229\u76ca\u306f\u30c9\u30eb\u63db\u7b97\u3067\u66f8\u304b\u308c\u3066\u3044\u308b\u304c\u3001\u305d\u3082\u305d\u3082\u30c9\u30eb\u306e\u4fa1\u5024\u81ea\u4f53\u304c\u3053\u306e\u671f\u9593\u3092\u901a\u3057\u3066\u66b4\u843d\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3088\u3063\u3066\u540d\u76ee\u3067\uff08\u30c9\u30eb\u3067\u8a08\u7b97\u3057\u305f\uff09\u4f01\u696d\u5229\u76ca\u3067\u3055\u3048\u3082\u4e0b\u304c\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u5dee\u3057\u5f15\u3044\u305f\u5b9f\u8cea\u306e\u4f01\u696d\u5229\u76ca\u306f\u6fc0\u6e1b\u3057\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u305d\u308c\u304c\u5f53\u6642\u306e\u682a\u4fa1\u66b4\u843d\u306e\u539f\u56e0\u3068\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p><strong>\u4f01\u696d\u5229\u76ca\u3068\u682a\u4fa1<\/strong><\/p>\n\n\n\n<p>\u30c4\u30b1\u306f\u652f\u6255\u308f\u308c\u308b\u300240\u5e74\u9593\u7de9\u548c\u3092\u7d9a\u3051\u3001\u682a\u4fa1\u3092\u7121\u7406\u77e2\u7406\u62bc\u3057\u4e0a\u3052\u305f\u5206\u3060\u3051\u3001\u7de9\u548c\u30d0\u30d6\u30eb\u304c\u5d29\u58ca\u3057\u305f\u6642\u306b\u682a\u4fa1\u306f\u4e0b\u843d\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u305d\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u306f\u3001\u4e0a\u8a18\u306e\u3088\u3046\u306b\u8003\u3048\u308c\u3070\u4f01\u696d\u5229\u76ca\u304c\u5927\u304d\u304f\u6e1b\u5c11\u3059\u308b\u6642\u3060\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u306f\u4eca\u306e\u76f8\u5834\u3067\u8a00\u3048\u3070\u3044\u3064\u306b\u306a\u308b\u306e\u3060\u308d\u3046\u304b\uff1f\u3000\u4ee5\u4e0b\u306e\u8a18\u4e8b\u306b\u304a\u3051\u308b\u5206\u6790\u3067\u306f\u3001\u7b46\u8005\u306f\u5c11\u306a\u304f\u3068\u3082\u4eca\u5e74\u306e\u5f8c\u534a\u304b\u3089\u6765\u5e74\u306b\u304b\u3051\u3066\u4f01\u696d\u5229\u76ca\u306f\u5927\u304d\u304f\u6e1b\u5c11\u3059\u308b\u3068\u3044\u3046\u4e88\u60f3\u3092\u7acb\u3066\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27199\" data-type=\"post\" data-id=\"27199\">\u7c73\u56fd\u682a\u306e\u4eca\u5f8c\u306e\u898b\u901a\u3057: \u4f01\u696d\u5229\u76ca\u6fc0\u6e1b\u3067\u682a\u4fa1\u306f\u518d\u3073\u66b4\u843d\u3078\u3001\u7a7a\u58f2\u308a\u518d\u958b<\/a><\/li><\/ul>\n\n\n\n<p>\u3053\u308c\u304b\u3089\u59cb\u307e\u308b\u9577\u671f\u306e\u30a4\u30f3\u30d5\u30ec\u76f8\u5834\u306b\u304a\u3044\u3066\u300140\u5e74\u6765\u306e\u7de9\u548c\u30d0\u30d6\u30eb\u304c\u3044\u3064\u304b\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u5d29\u58ca\u3059\u308b\u3053\u3068\u306f\u907f\u3051\u3089\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u7b46\u8005\u306e\u4e88\u60f3\u3059\u308b\u4eca\u5e74\u304b\u3089\u6765\u5e74\u306b\u304b\u3051\u3066\u306e\u682a\u5b89\u304c\u3001\u305d\u306e\u5927\u66b4\u843d\u306b\u306a\u308b\u306e\u304b\u3069\u3046\u304b\u306f\u5206\u304b\u3089\u306a\u3044\u3002\u3068\u308a\u3042\u3048\u305a\u682a\u4fa1\u306f\u534a\u5e74\u3067\u5927\u304d\u304f\u4e0b\u304c\u308b\u3060\u308d\u3046\u304c\u3001\u672c\u5f53\u306e\u5927\u66b4\u843d\u3068\u8a00\u3048\u308b\u898f\u6a21\u306b\u306a\u308b\u306e\u304b\u306f\u3001\u5b9f\u969b\u306b\u682a\u4fa1\u304c\u3042\u308b\u7a0b\u5ea6\u843d\u3061\u305f\u5f8c\u306e\u72b6\u6cc1\u3092\u898b\u306a\u304c\u3089\u5224\u65ad\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u4e16\u754c\u5c48\u6307\u306e\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3067\u3042\u3063\u305f\u3068\u3057\u3066\u3082\u3001\u6295\u8cc7\u5bb6\u304c\u304b\u306a\u308a\u306e\u7cbe\u5ea6\u3092\u3082\u3063\u3066\u682a\u4fa1\u306e\u63a8\u79fb\u3092\u4e88\u6e2c\u3067\u304d\u308b\u306e\u306f\u7cbe\u3005\u534a\u5e74\u304c\u9650\u754c\u3067\u3042\u308b\u3002\u9577\u671f\u7684\u306b\u306f\u30b3\u30ed\u30ca\u3082\u8d77\u3053\u308c\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u52d5\u304d\u3082\u5909\u308f\u308a\u3001\u6226\u4e89\u304c\u8d77\u304d\u308b\u3053\u3068\u3082\u3042\u308b\u3002\u3060\u304b\u3089\u9577\u671f\u7684\u306a\u8996\u70b9\u306f\u6301\u3064\u304c\u3001\u305d\u308c\u306f\u81ea\u5206\u306e\u8cc7\u91d1\u3092\u8ced\u3051\u3089\u308c\u308b\u307b\u3069\u306e\u7cbe\u5ea6\u306e\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u534a\u5e74\u4ee5\u4e0a\u5f8c\u306e\u53b3\u5bc6\u306a\u4e88\u60f3\u306f\u534a\u5e74\u5f8c\u306b\u8003\u3048\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u524d\u56de\u306e\u8a18\u4e8b\u3067\u682a\u5f0f\u3078\u306e\u9577\u671f\u6295\u8cc7\u3092\u4f55\u304b\u7d50\u679c\u306e\u6c7a\u307e\u3063\u305f\u3082\u306e\u306e\u3088\u3046\u306b\u8003\u3048\u3066\u3044\u308b\u4eba\u3005\u3092\u6279\u5224\u3057\u305f\u306e\u306f\u3001\u305d\u3046\u3044\u3046\u610f\u5473\u5408\u3044\u3082\u3042\u308b\u3002\u4eee\u306b\u4e16\u754c\u5c48\u6307\u306e\u982d\u8133\u304c\u6b7b\u306c\u6c17\u3067\u8003\u3048\u305f\u3068\u3057\u3066\u3082\u4e0d\u53ef\u80fd\u306a\u9577\u671f\u6295\u8cc7\u306e\u7d50\u679c\u4e88\u6e2c\u304c\u3001\u300c\u3053\u308c\u307e\u3067\u306e\u7c73\u56fd\u682a\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u898b\u305f\u3089\u4e0a\u304c\u3063\u3066\u3044\u308b\u304b\u3089\u3053\u308c\u304b\u3089\u3082\u305d\u3046\u306a\u308b\u300d\u7a0b\u5ea6\u306e\u8ad6\u7406\u3067\u53ef\u80fd\u3060\u3068\u8003\u3048\u3066\u3044\u308b\u306a\u3089\u3070\u3001\u305d\u306e\u4eba\u306e\u982d\u306f\u5b8c\u5168\u306b\u304a\u82b1\u7551\u3067\u3042\u308b\u3002\u5f7c\u3089\u306f\u77e5\u3089\u305a\u306b\u30ae\u30e3\u30f3\u30d6\u30eb\u3092\u3084\u3063\u3066\u3044\u308b\u306b\u904e\u304e\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27644\" data-type=\"post\" data-id=\"27644\">\u300c\u682a\u5f0f\u6295\u8cc7\u306f\u9577\u671f\u7684\u306b\u306f\u307b\u307c\u5132\u304b\u308b\u300d\u3068\u3044\u3046\u4e3b\u5f35\u304c\u5b8c\u5168\u306b\u9593\u9055\u3063\u3066\u3044\u308b\u7406\u7531<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u304c\u682a\u4fa1\u306b\u610f\u5473\u3059\u308b\u3082\u306e<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u6700\u5f8c\u306b\u304a\u307e\u3051\u3092\u4ed8\u3051\u52a0\u3048\u3066\u304a\u3053\u3046\u3002\u30a4\u30f3\u30d5\u30ec\u304c\u30c9\u30eb\u63db\u7b97\u3067\u306e\u4f01\u696d\u5229\u76ca\u306e\u5b9f\u8cea\u7684\u306a\u4fa1\u5024\u3092\u76ee\u6e1b\u308a\u3055\u305b\u308b\u3053\u3068\u306f\u4e0a\u306b\u8ff0\u3079\u305f\u3002\u305d\u3057\u3066\u3082\u30461\u3064\u8003\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u306e\u306f\u3001\u305d\u308c\u306f\u682a\u4fa1\u306b\u3068\u3063\u3066\u3082\u540c\u3058\u3060\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>1970\u5e74\u4ee3\u306e\u682a\u4fa1\u30c1\u30e3\u30fc\u30c8\u3092\u3084\u3084\u5e83\u3052\u30011966\u5e74\u9803\u304b\u3089\u306e\u3082\u306e\u3092\u63b2\u8f09\u3057\u3088\u3046\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/1966-1982-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"675\" height=\"543\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/1966-1982-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-25849\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/1966-1982-s-and-p-500-chart.png 675w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/06\/1966-1982-s-and-p-500-chart-300x241.png 300w\" sizes=\"auto, (max-width: 675px) 100vw, 675px\" \/><\/a><\/figure>\n\n\n\n<p>\u3053\u306e\u30c1\u30e3\u30fc\u30c8\u306f15\u5e74\u9593\u3092\u901a\u3057\u3066\u307b\u307c\u6a2a\u3070\u3044\u306e\u3088\u3046\u306b\u898b\u3048\u308b\u3002\u3060\u304c\u5b9f\u969b\u306b\u306f\u307e\u3063\u305f\u304f\u6a2a\u3070\u3044\u3067\u306f\u306a\u3044\u3002\u4f55\u6545\u306a\u3089\u3070\u5e74\u7387\u3067\u6700\u9ad815%\u8fd1\u3044\u30a4\u30f3\u30d5\u30ec\u3001\u3064\u307e\u308a\u6bce\u5e74\u306e\u30c9\u30eb\u306e\u4fa1\u5024\u4e0b\u843d\u304c\u30c9\u30eb\u5efa\u3066\u8cc7\u7523\u306e\u5b9f\u8cea\u7684\u306a\u4fa1\u5024\u3092\u6e1b\u5c11\u3055\u305b\u7d9a\u3051\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u3053\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u671f\u9593\u306b\u304a\u3044\u3066\u7c73\u56fd\u682a\u306b\u6295\u8cc7\u3092\u3057\u305f\u4eba\u306f\u300115\u5e74\u6a2a\u3070\u3044\u3069\u3053\u308d\u304b\u5b9f\u969b\u306b\u306f\u5927\u640d\u3057\u3066\u304a\u308a\u3001\u640d\u5931\u3092\u53d6\u308a\u623b\u3059\u306b\u306f\u305d\u308c\u4ee5\u4e0a\u306e\u5e74\u6708\u304c\u304b\u304b\u3063\u3066\u3044\u308b\u3002\u307e\u305f\u3001\u682a\u4fa1\u304c\u534a\u5024\u307e\u3067\u66b4\u843d\u3057\u305f1974\u5e74\u306b\u306f\u3001\u5b9f\u8cea\u7684\u306b\u306f\u7c73\u56fd\u682a\u306e\u4fa1\u5024\u4e0b\u843d\u306f50%\u3067\u6e08\u3093\u3067\u304a\u3089\u305a\u3001\u5b9f\u8cea\u7d19\u5207\u308c\u306b\u306a\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u66f4\u306b\u8a00\u3048\u3070\u3001\u7c73\u56fd\u682a\u304c\u4f55\u5341\u5e74\u3082\u632f\u308b\u308f\u306a\u304b\u3063\u305f\u671f\u9593\u306f\u5b9f\u969b\u306b\u306f\u4ed6\u306b\u3082\u3042\u308b\u3002\u4f8b\u3048\u3070\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u8aac\u660e\u3057\u305f\u3088\u3046\u306b\u3001\u7c73\u56fd\u682a\u306e\u6b74\u53f2\u306b\u306f1929\u5e74\u306e\u4e16\u754c\u6050\u614c\u304b\u3089\u59cb\u307e\u3063\u305f25\u5e74\u306e\u4f4e\u8ff7\u306e\u671f\u9593\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/25829\" data-type=\"post\" data-id=\"25829\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: 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class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/24577\" data-type=\"post\" data-id=\"24577\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: 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