{"id":30188,"date":"2022-10-25T20:03:00","date_gmt":"2022-10-25T11:03:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=30188"},"modified":"2022-10-25T18:39:31","modified_gmt":"2022-10-25T09:39:31","slug":"%e3%83%89%e3%83%a9%e3%83%83%e3%82%b1%e3%83%b3%e3%83%9f%e3%83%a9%e3%83%bc%e6%b0%8f-%e3%83%97%e3%83%bc%e3%83%81%e3%83%b3%e6%b0%8f%e3%81%8c%e5%bc%95%e3%81%8d%e8%b5%b7%e3%81%93%e3%81%97%e3%81%9f%e3%82%8f","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30188","title":{"rendered":"\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u30d7\u30fc\u30c1\u30f3\u6c0f\u304c\u5f15\u304d\u8d77\u3053\u3057\u305f\u308f\u3051\u3067\u306f\u306a\u3044\u30a4\u30f3\u30d5\u30ec\u306e\u672c\u5f53\u306e\u7406\u7531"},"content":{"rendered":"\n<p>\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306e\u30af\u30a9\u30f3\u30bf\u30e0\u30fb\u30d5\u30a1\u30f3\u30c9\u3092\u7387\u3044\u305f\u3053\u3068\u3067\u6709\u540d\u306a\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u3001CNBC\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u30672022\u5e74\u306e\u7269\u4fa1\u9ad8\u9a30\u306e\u539f\u56e0\u3068\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u4eca\u5f8c\u306e\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u3068\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2<\/strong><\/p>\n\n\n\n<p>\u4eca\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u306e\u539f\u56e0\u306f\u4f55\u3060\u308d\u3046\u304b\u3002\u65e5\u672c\u3067\u306f\u30a6\u30af\u30e9\u30a4\u30ca\u60c5\u52e2\u3088\u308a\u3082\u5186\u5b89\u304c\u6ce8\u76ee\u3055\u308c\u3066\u304a\u308a\u3001\u6700\u8fd1\u3088\u3046\u3084\u304f\u30a4\u30f3\u30d5\u30ec\u306e\u539f\u56e0\u3068\u3057\u3066\u306f\u307e\u3068\u3082\u306a\u8981\u56e0\u304c\u6319\u3052\u3089\u308c\u59cb\u3081\u3066\u304d\u305f\u3068\u611f\u3058\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u5186\u5b89\u306f\u65e5\u9280\u304c\u5f15\u304d\u8d77\u3053\u3057\u3066\u304a\u308a\u3001\u5f7c\u3089\u306b\u306f\u56fd\u6c11\u3092\u72a0\u7272\u306b\u3057\u3066\u3067\u3082\u91d1\u878d\u7de9\u548c\u3092\u7d99\u7d9a\u3059\u308b\u7406\u7531\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/29198\" data-type=\"post\" data-id=\"29198\">\u5229\u4e0a\u3052\u3067\u9810\u91d1\u8005\u306f\u30a4\u30f3\u30d5\u30ec\u304b\u3089\u8cc7\u7523\u9632\u885b\u3067\u304d\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u65e5\u9280\u304c\u5229\u4e0a\u3052\u3092\u884c\u308f\u306a\u3044\u7406\u7531<\/a><\/li><\/ul>\n\n\n\n<p>\u305d\u3057\u3066\u30a4\u30f3\u30d5\u30ec\u306e\u8981\u56e0\u3068\u3057\u3066\u3001\uff08\u91d1\u878d\u30e1\u30c7\u30a3\u30a2\u306e\u8a18\u8005\u3092\u542b\u3080\uff09\u4f55\u3082\u77e5\u3089\u306a\u3044\u7d20\u4eba\u305f\u3061\u306b\u3088\u3063\u3066\u6319\u3052\u3089\u308c\u308b\u306e\u304c\u3001\u30ed\u30b7\u30a2\u306b\u3088\u308b\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>2021\u5e74\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u3092\u8b66\u544a\u3057\u3066\u3044\u305f\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u306f\u3001\u3053\u306e\u3053\u3068\u306b\u3064\u3044\u3066\u6b21\u306e\u3088\u3046\u306b\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u591a\u304f\u306e\u4eba\u3005\u304c\u30a4\u30f3\u30d5\u30ec\u306f\u30d7\u30fc\u30c1\u30f3\u6c0f\u304c\u5f15\u304d\u8d77\u3053\u3057\u305f\u3068\u4e3b\u5f35\u3057\u3066\u3044\u308b\u3002\u5f7c\u306f\u78ba\u304b\u306b\u30a4\u30f3\u30d5\u30ec\u3092\u5ef6\u9577\u3057\u305f\u304c\u30011\u3064\u8a00\u3063\u3066\u3082\u826f\u3044\u3060\u308d\u3046\u304b\uff1f\u3000\u5f7c\u304c\u30a6\u30af\u30e9\u30a4\u30ca\u306b\u4fb5\u653b\u3059\u308b\u524d\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u65e2\u306b\u524d\u5e74\u540c\u6708\u6bd4\u30677%\u3060\u3063\u305f\u3002<\/p><\/blockquote>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u63b2\u8f09\u3057\u3088\u3046\u3002\u305d\u3057\u3066\u3053\u306e\u30c1\u30e3\u30fc\u30c8\u306e\u5185\u3001\u4f55\u51e6\u304c2022\u5e742\u6708\u672b\u306e\u30ed\u30b7\u30a2\u306e\u30a6\u30af\u30e9\u30a4\u30ca\u4fb5\u653b\u304b\u3069\u3046\u304b\u8003\u3048\u3066\u307f\u308b\u3068\u826f\u3044\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-sep-us-cpi-growth.png\"><img loading=\"lazy\" decoding=\"async\" width=\"483\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-sep-us-cpi-growth.png\" alt=\"\" class=\"wp-image-29704\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-sep-us-cpi-growth.png 483w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-sep-us-cpi-growth-300x289.png 300w\" sizes=\"auto, (max-width: 483px) 100vw, 483px\" \/><\/a><\/figure>\n\n\n\n<p>\u3061\u306a\u307f\u306b\u4eca\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f8%\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/29703\" data-type=\"post\" data-id=\"29703\">9\u6708\u306e\u7c73\u30a4\u30f3\u30d5\u30ec\u7387\u306f8.2%\u3001\u4eca\u5f8c\u306e\u63a8\u79fb\u4e88\u60f3<\/a><\/li><\/ul>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u306e\u672c\u5f53\u306e\u539f\u56e0<\/strong><\/p>\n\n\n\n<p>\u3067\u306f\u7269\u4fa1\u9ad8\u9a30\u306e\u539f\u56e0\u306f\u4f55\u3060\u3063\u305f\u306e\u304b\u3002\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u53bb\u5e74\u304b\u3089Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u91d1\u878d\u653f\u7b56\u3092\u516c\u306e\u5834\u3067\u6279\u5224\u3057\u3066\u3044\u305f\u3002\u5f7c\u306f\u53bb\u5e74\u306e\u72b6\u6cc1\u3092\u6b21\u306e\u3088\u3046\u306b\u632f\u308a\u8fd4\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u308f\u305f\u3057\u304c\u53bb\u5e74\u7acb\u3066\u305f\u65b0\u5e74\u306e\u62b1\u8ca0\u306f\u3001\u30c6\u30ec\u30d3\u306b\u51fa\u306a\u3044\u3053\u3068\u3060\u3063\u305f\u3002\u3060\u304c\u5f53\u6642\u306e\u72b6\u6cc1\u3092\u898b\u305f\u6642\u3001\u5c45\u3066\u3082\u305f\u3063\u3066\u3082\u3044\u3089\u308c\u306a\u304f\u306a\u3063\u305f\u3002<\/p><p>\u308f\u305f\u3057\u306e\u76ee\u306b\u306f\u3001Fed\u306f\u8003\u3048\u3089\u308c\u306a\u3044\u3088\u3046\u306a\u30ea\u30b9\u30af\u3092\u53d6\u3063\u3066\u3044\u308b\u3088\u3046\u306b\u898b\u3048\u305f\u3002\u3060\u304c\u4f55\u306e\u305f\u3081\u306b\uff1f\u3000\u5f53\u6642\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u306f1.7%\u3060\u3063\u305f\u3002\u305d\u3057\u3066Fed\u306f\u6bce\u67081,200\u5104\u30c9\u30eb\u306e\u91cf\u7684\u7de9\u548c\u3092\u884c\u306a\u3063\u3066\u3044\u305f\u3002<\/p><\/blockquote>\n\n\n\n<p>\u4e2d\u592e\u9280\u884c\u306e\u30a4\u30f3\u30d5\u30ec\u76ee\u6a19\u306f2%\u3060\u304b\u3089\u3001\u6b8b\u308a0.3%\u306e\u305f\u3081\u306b\u6bce\u67081,200\u5104\u30c9\u30eb\u3092\u3070\u3089\u6492\u3044\u3066\u3044\u305f\u308f\u3051\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304cFed\u306e\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306e\u5947\u884c\u306f\u305d\u3053\u3067\u6b62\u307e\u3089\u306a\u304b\u3063\u305f\u3002Fed\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u304c2%\u3069\u3053\u308d\u304b5%\u3092\u8d85\u3048\u3066\u4e0a\u304c\u3063\u3066\u884c\u3063\u3066\u3082\u83ab\u5927\u306a\u7d19\u5e63\u5370\u5237\u3092\u7d9a\u3051\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/14522\" data-type=\"post\" data-id=\"14522\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306f\u305f\u3060\u30a4\u30f3\u30d5\u30ec\u304c\u7d9a\u304b\u306a\u3044\u3088\u3046\u306b\u7948\u3063\u3066\u3044\u308b\u3060\u3051 (2021\/7\/18)<\/a><\/li><\/ul>\n\n\n\n<p>\u3053\u3053\u3067\u306f\u91cf\u7684\u7de9\u548c\u3060\u3051\u3092\u3084\u308a\u7389\u306b\u6319\u3052\u3066\u3044\u308b\u304c\u3001\u7269\u4fa1\u9ad8\u9a30\u306e\u76f4\u63a5\u306e\u5b9f\u884c\u72af\u306f\u73fe\u91d1\u7d66\u4ed8\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u30673\u56de\u884c\u308f\u308c\u305f\u73fe\u91d1\u7d66\u4ed8\u306b\u3088\u3063\u3066\u8df3\u306d\u4e0a\u304c\u3063\u305f\u500b\u4eba\u6240\u5f97\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u8df3\u306d\u4e0a\u3052\u305f\u69d8\u5b50\u306f\u30012\u3064\u306e\u30c1\u30e3\u30fc\u30c8\u3092\u4e26\u3079\u3066\u307f\u308c\u3070\u3059\u3050\u306b\u5206\u304b\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\/10\/2022-aug-us-disposable-personal-income-and-cpi-growth-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"545\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-aug-us-disposable-personal-income-and-cpi-growth-chart.png\" alt=\"\" class=\"wp-image-29519\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-aug-us-disposable-personal-income-and-cpi-growth-chart.png 545w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2022\/10\/2022-aug-us-disposable-personal-income-and-cpi-growth-chart-300x257.png 300w\" sizes=\"auto, (max-width: 545px) 100vw, 545px\" \/><\/a><\/figure>\n\n\n\n<p>\u3053\u306e\u3053\u3068\u306b\u3064\u3044\u3066\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u30b3\u30e1\u30f3\u30c8\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u78ba\u304b\u306b\u4e2d\u592e\u9280\u884c\u3060\u3051\u304c\u539f\u56e0\u3067\u306f\u306a\u3044\u3002\u8ca1\u653f\u523a\u6fc0\u3082\u5927\u304d\u306a\u539f\u56e0\u3060\u3063\u305f\u3002\u3060\u304c\u5ba2\u89b3\u7684\u4e8b\u5b9f\u3068\u3057\u3066\u3001\u4e2d\u592e\u9280\u884c\u304c\u306a\u3051\u308c\u3070\u8ca1\u653f\u523a\u6fc0\u306f\u51fa\u6765\u306a\u304b\u3063\u305f\u3002<\/p><\/blockquote>\n\n\n\n<p>\u4e2d\u592e\u9280\u884c\u306b\u3088\u308b\u4f4e\u91d1\u5229\u304c\u306a\u3051\u308c\u3070\u3001\u653f\u5e9c\u306f\u83ab\u5927\u306a\u501f\u91d1\u3092\u7a4d\u307f\u4e0a\u3052\u308b\u3053\u3068\u3082\u51fa\u6765\u305a\u3001\u6771\u4eac\u4e94\u8f2a\u3084GO TO\u30c8\u30e9\u30d9\u30eb\u3084\u305d\u306e\u4ed6\u3059\u3079\u3066\u306e\u99ac\u9e7f\u3052\u305f\u3070\u3089\u6492\u304d\u3092\u884c\u3046\u3053\u3068\u3082\u51fa\u6765\u306a\u304b\u3063\u305f\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/29551\" data-type=\"post\" data-id=\"29551\">\u65e5\u672c\u653f\u5e9c\u306e\u5168\u56fd\u65c5\u884c\u652f\u63f4\u3067\u5bbf\u6cca\u4e88\u7d04\u6bba\u5230\u3057\u3066\u30db\u30c6\u30eb\u4ee3\u5024\u4e0a\u304c\u308a<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30156\" data-type=\"post\" data-id=\"30156\">\u5168\u56fd\u65c5\u884c\u652f\u63f4\u3067\u65e5\u5e30\u308a\u306e\u65c5\u884c\u3092\u697d\u3057\u3080\u30c9\u30eb\u5186<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304c\u4e2d\u592e\u9280\u884c\u306e\u30c8\u30c3\u30d7\u3092\u653f\u5e9c\u304c\u9078\u3076\u4ee5\u4e0a\u3001\u5f7c\u3089\u304c\u30b0\u30eb\u3067\u3042\u308b\u306e\u306f\u5f53\u305f\u308a\u524d\u3067\u3042\u308a\u3001\u307e\u305f\u56fd\u6c11\u3067\u306f\u306a\u304f\u7968\u7530\u3068\u81ea\u5206\u81ea\u8eab\u306e\u5229\u76ca\u3092\u8003\u3048\u3066\u884c\u52d5\u3059\u308b\u653f\u6cbb\u5bb6\u304c\u305d\u306e\u4e88\u7b97\u3067\u597d\u304d\u306a\u3088\u3046\u306b\u3084\u308b\u306e\u306f\u5f53\u7136\u306e\u3053\u3068\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p><strong>\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u52d5\u5411<\/strong><\/p>\n\n\n\n<p>\u7b46\u8005\u3092\u542b\u3081\u307e\u3068\u3082\u306a\u6295\u8cc7\u5bb6\u306f\u8ab0\u3067\u3082\u305d\u3046\u3060\u3063\u305f\u304c\u3001\u53bb\u5e74\u304b\u3089\u30a4\u30f3\u30d5\u30ec\u3092\u8b66\u544a\u3057\u653f\u5e9c\u3092\u975e\u96e3\u3057\u3066\u304d\u305f\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u534a\u7b11\u3044\u3067\u6b21\u306e\u3088\u3046\u306b\u8a9e\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u73fe\u5728\u306e\u30a4\u30f3\u30d5\u30ec\u306f\u308f\u305f\u3057\u304c\u3053\u308c\u307e\u3067\u884c\u306a\u3063\u305f\u4e88\u60f3\u306e\u4e2d\u3067\u7279\u6bb5\u512a\u308c\u305f\u3082\u306e\u3060\u3063\u305f\u3068\u306f\u601d\u308f\u306a\u3044\u3002\u5927\u898f\u6a21\u306a\u8ca1\u653f\u523a\u6fc0\u3001\u5927\u898f\u6a21\u306a\u91d1\u878d\u523a\u6fc0\u3001\u305d\u3057\u3066\u5f53\u6642\u30a4\u30f3\u30d5\u30ec\u306f\u65e2\u306b\u59cb\u307e\u3063\u3066\u3044\u305f\u3002\u4f55\u6545\u305d\u308c\u3067\u653f\u7b56\u304c\u539f\u56e0\u3067\u306f\u306a\u3044\u3068\u601d\u3048\u308b\u3093\u3060\uff1f<\/p><\/blockquote>\n\n\n\n<p>\u8457\u540d\u6295\u8cc7\u5bb6\u306f\u8ab0\u3082\u304c\u540c\u3058\u3053\u3068\u3092\u8a00\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/19942\" data-type=\"post\" data-id=\"19942\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u30a4\u30f3\u30d5\u30ec\u306b\u306a\u3063\u3066\u9a5a\u3044\u3066\u3044\u308b\u30ea\u30d5\u30ec\u6d3e\u306f\u99ac\u9e7f\u3058\u3083\u306a\u3044\u306e\u304b<\/a><\/li><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/18701\" data-type=\"post\" data-id=\"18701\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: 12\u624d\u5150\u3088\u308a\u3082\u611a\u304b\u306a\u4e2d\u592e\u9280\u884c\u306e\u5b58\u5728\u610f\u7fa9\u304c\u5206\u304b\u3089\u306a\u3044<\/a><\/li><\/ul>\n\n\n\n<p>\u3057\u304b\u3057\u30a2\u30e1\u30ea\u30ab\u3067\u3082\u65e5\u672c\u3067\u3082\u672a\u3060\u306b\u30a4\u30f3\u30d5\u30ec\u306e\u539f\u56e0\u3092\u6b63\u3057\u304f\u8a8d\u8b58\u3057\u3066\u3044\u308b\u4eba\u3055\u3048\u5c11\u6570\u6d3e\u306a\u306e\u3060\u304b\u3089\u3082\u3046\u7b11\u3046\u3057\u304b\u306a\u3044\u3002\u305d\u3057\u3066\u5f7c\u3089\u306f\u3044\u307e\u3060\u306b\u653f\u5e9c\u304b\u3089\u7d19\u5e63\u304c\u964d\u3063\u3066\u304f\u308b\u306e\u3092\u5f85\u3063\u3066\u3044\u308b\u3002\u3060\u304c\u5f7c\u3089\u306b\u964d\u3063\u3066\u304f\u308b\u306e\u306f\u30a4\u30f3\u30d5\u30ec\u3067\u3042\u308b\u3002\u81ea\u5206\u304c\u671b\u3093\u3060\u3082\u306e\u3092\u6709\u96e3\u304f\u53d7\u3051\u53d6\u308b\u3068\u3044\u3044\u3002<\/p>\n\n\n\n<p>\u3055\u3066\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u3067\u539f\u6cb9\u4fa1\u683c\u304c\u4e0b\u843d\u3057\u305f\u3053\u3068\u306b\u3088\u3063\u3066\u3001\u77ed\u671f\u7684\u306b\u306f\u30a4\u30f3\u30d5\u30ec\u306b\u306f\u6e1b\u901f\u306e\u5146\u3057\u304c\u8868\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/29976\" data-type=\"post\" data-id=\"29976\">\u30b5\u30de\u30fc\u30ba\u6c0f: \u5229\u4e0a\u3052\u306e\u7d42\u308f\u308a\u304c\u8fd1\u3065\u3044\u3066\u3044\u308b<\/a><\/li><\/ul>\n\n\n\n<p>\u3060\u304c\u305d\u308c\u3067\u30a4\u30f3\u30d5\u30ec\u306f\u672c\u5f53\u306b\u7d42\u5e55\u3068\u306a\u308b\u306e\u3060\u308d\u3046\u304b\u3002\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8a00\u3046\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>1970\u5e74\u4ee3\u306e\u7d4c\u9a13\u306b\u3088\u308c\u3070\u3001\u4e00\u5ea6\u8d77\u3053\u3063\u305f\u30a4\u30f3\u30d5\u30ec\u306f\u7e70\u308a\u8fd4\u3059\u3002\u53bb\u5e74\u306e\u590f\u306b\u306f\u8ab0\u3082\u304c\u4e2d\u53e4\u8eca\u4fa1\u683c\u304c\u4e0b\u304c\u308b\u3068\u304b\u3001\u5225\u306e\u3082\u306e\u304c\u4e0a\u304c\u308b\u3068\u304b\u3001\u305d\u3046\u3044\u3046\u3053\u3068\u3092\u558b\u3063\u3066\u3044\u305f\u304c\u3001\u305d\u3046\u3044\u3046\u554f\u984c\u3067\u306f\u306a\u3044\u3002<\/p><\/blockquote>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u306e\u539f\u56e0\u304c\u73fe\u91d1\u7d66\u4ed8\u3067\u3042\u308b\u3068\u3059\u308c\u3070\u3001\u5c11\u306a\u304f\u3068\u3082\u53bb\u5e74\u306e\u3088\u3046\u306a\u898f\u6a21\u306e\u73fe\u91d1\u7d66\u4ed8\u304c\u3082\u3046\u4e00\u5ea6\u884c\u308f\u308c\u306a\u3044\u9650\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u306f\u53ce\u307e\u308b\u3068\u8003\u3048\u3066\u826f\u3044\u306e\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u3088\u308a\u9577\u304f\u6301\u7d9a\u3059\u308b\u7406\u7531\u3092\u6b21\u306e\u3088\u3046\u306b\u8aac\u660e\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u4f8b\u3048\u3070\u30a4\u30ae\u30ea\u30b9\u306e\u52b4\u50cd\u7d44\u5408\u3060\u3002\u5f7c\u3089\u304c\u6625\u306e\u8cc3\u91d1\u4ea4\u6e09\u3067\u300c5\u5e74\u7269\u306e\u30d5\u30a9\u30ef\u30fc\u30c9\u91d1\u5229\u304c2.3%\u3060\u304b\u30892.3%\u306e\u8cc3\u91d1\u4e0a\u6607\u3068\u3044\u3046\u3053\u3068\u306b\u3057\u3088\u3046\u300d\u3068\u3067\u3082\u8a00\u3046\u3060\u308d\u3046\u304b\uff1f\u3000\u305d\u3093\u306a\u308f\u3051\u306f\u306a\u3044\u3002\u5f7c\u3089\u306f\u73fe\u5b9f\u306e\u4e16\u754c\u306e\u52b4\u50cd\u8005\u3060\u3002\u5f7c\u3089\u306f\u30a4\u30f3\u30d5\u30ec\u306b\u3088\u308a3\u5e74\u9593\u306724%\u3092\u5931\u3063\u3066\u3044\u308b\u3002<\/p><p>\u6d88\u8cbb\u8005\u304c\u305d\u308c\u3060\u3051\u306e\u8cfc\u8cb7\u529b\u3092\u5931\u3063\u305f\u5834\u5408\u3001\u305d\u308c\u306f\u8cc3\u91d1\u4ea4\u6e09\u306b\u8868\u308c\u3066\u304f\u308b\u3002<\/p><p>\u305d\u3057\u3066\u305d\u3046\u306a\u308c\u3070\u4f1a\u793e\u306f\u8cc3\u91d1\u3092\u4e0a\u3052\u306a\u304f\u3066\u306f\u306a\u3089\u306a\u304f\u306a\u308a\u3001\u305d\u308c\u306f\u305d\u306e\u4f1a\u793e\u306e\u9867\u5ba2\u304c\u8ca0\u62c5\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u3053\u306e\u3088\u3046\u306b\u3057\u3066\u30a4\u30f3\u30d5\u30ec\u306f\u81ea\u5df1\u5f37\u5316\u3059\u308b\u3002<\/p><\/blockquote>\n\n\n\n<p>\u305d\u3053\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u5384\u4ecb\u306a\u3068\u3053\u308d\u3067\u3042\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u306f\u4e00\u5ea6\u8d77\u3053\u3063\u3066\u3057\u307e\u3048\u3070\u81ea\u5206\u81ea\u8eab\u3092\u539f\u56e0\u3068\u3057\u3066\u66f4\u306a\u308b\u30a4\u30f3\u30d5\u30ec\u30b9\u30d1\u30a4\u30e9\u30eb\u3092\u5f15\u304d\u8d77\u3053\u3057\u3066\u3086\u304f\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u30891970\u5e74\u4ee3\u306b\u59cb\u307e\u308b\u7269\u4fa1\u9ad8\u9a30\u6642\u4ee3\u306e\u7d42\u308f\u308a\u306bFed\u306e\u8b70\u9577\u3092\u52d9\u3081\u305f\u30dc\u30eb\u30ab\u30fc\u6c0f\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u7d42\u308f\u3089\u305b\u308b\u305f\u3081\u306b\u7d4c\u6e08\u3092\u72a0\u7272\u306b\u305b\u3056\u308b\u3092\u5f97\u306a\u304b\u3063\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/27377\" data-type=\"post\" data-id=\"27377\">\u30dd\u30fc\u30eb\u30fb\u30dc\u30eb\u30ab\u30fc\u6c0f\u30011980\u5e74\u306e\u30a4\u30f3\u30d5\u30ec\u6253\u5012\u304c\u3069\u308c\u3060\u3051\u53b3\u3057\u304b\u3063\u305f\u304b\u3092\u8a9e\u308b<\/a><\/li><\/ul>\n\n\n\n<p>\u307e\u3060\u4e0d\u6cc1\u306b\u3055\u3048\u9665\u3063\u3066\u3044\u306a\u3044\u72b6\u6cc1\u3067\u30a4\u30f3\u30d5\u30ec\u304c\u53ce\u307e\u308b\u304b\u3069\u3046\u304b\u8a71\u3057\u5408\u3046\u3053\u3068\u304c\u3069\u308c\u3060\u3051\u99ac\u9e7f\u3052\u305f\u3053\u3068\u304b\u304c\u5206\u304b\u308b\u3060\u308d\u3046\u3002\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7e8f\u3081\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u305d\u308c\u304c\u73fe\u5728\u306e\u554f\u984c\u3067\u3042\u308a\u3001\u4e2d\u592e\u9280\u884c\u304c\u81ea\u5206\u306e\u30d0\u30d6\u30eb\u751f\u6210\u30fb\u5d29\u58ca\u653f\u7b56\u306b\u3088\u3063\u3066\u5f15\u304d\u8d77\u3053\u3057\u305f\u72b6\u6cc1\u3060\u3002<\/p><\/blockquote>\n\n\n\n<p>\u672a\u3060\u306b\u30d0\u30d6\u30eb\u5d29\u58ca\u653f\u7b56\u3092\u7d9a\u3051\u3066\u3044\u308b\u65e5\u672c\u306f\u4f55\u51e6\u306b\u884c\u304f\u306e\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/29198\" data-type=\"post\" data-id=\"29198\">\u5229\u4e0a\u3052\u3067\u9810\u91d1\u8005\u306f\u30a4\u30f3\u30d5\u30ec\u304b\u3089\u8cc7\u7523\u9632\u885b\u3067\u304d\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u65e5\u9280\u304c\u5229\u4e0a\u3052\u3092\u884c\u308f\u306a\u3044\u7406\u7531<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306e\u30af\u30a9\u30f3\u30bf\u30e0\u30fb\u30d5\u30a1\u30f3\u30c9\u3092\u7387\u3044\u305f\u3053\u3068\u3067\u6709\u540d\u306a\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u3001CNBC\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u30672022\u5e74\u306e\u7269\u4fa1\u9ad8\u9a30\u306e\u539f\u56e0\u3068\u3001\u30a4\u30f3\u30d5\u30ec\u306e\u4eca\u5f8c\u306e\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118,108],"tags":[130,167],"class_list":["post-30188","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-stanley-druckenmiller","tag-inflation"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/30188","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=30188"}],"version-history":[{"count":56,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/30188\/revisions"}],"predecessor-version":[{"id":30244,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/30188\/revisions\/30244"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=30188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=30188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=30188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}