{"id":35302,"date":"2023-04-01T20:01:00","date_gmt":"2023-04-01T11:01:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=35302"},"modified":"2023-04-01T15:32:25","modified_gmt":"2023-04-01T06:32:25","slug":"%e3%82%b5%e3%83%9e%e3%83%bc%e3%82%ba%e6%b0%8f-%e3%82%bd%e3%83%95%e3%83%88%e3%83%a9%e3%83%b3%e3%83%87%e3%82%a3%e3%83%b3%e3%82%b0%e3%81%af%e9%9d%9e%e5%b8%b8%e3%81%ab%e9%9b%a3%e3%81%97%e3%81%84","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35302","title":{"rendered":"\u30b5\u30de\u30fc\u30ba\u6c0f: \u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u306f\u975e\u5e38\u306b\u96e3\u3057\u3044"},"content":{"rendered":"\n<p>\u30a2\u30e1\u30ea\u30ab\u306e\u5143\u8ca1\u52d9\u9577\u5b98\u3067\u30de\u30af\u30ed\u7d4c\u6e08\u5b66\u8005\u306e\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u304c\u3001Bloomberg\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u9280\u884c\u5371\u6a5f\u3068Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u91d1\u878d\u653f\u7b56\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\u9280\u884c\u5371\u6a5f<\/strong><\/p>\n\n\n\n<p>\u5e02\u5834\u3067\u306f\u4eca2\u3064\u306e\u3053\u3068\u304c\u6ce8\u76ee\u3055\u308c\u3066\u3044\u308b\u30021\u3064\u306f\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u306b\u59cb\u307e\u308b\u4e16\u754c\u7684\u306a\u9280\u884c\u5371\u6a5f\u3067\u3001\u3082\u30461\u3064\u306f\u77ed\u671f\u7684\u306b\u306f\u5f31\u307e\u308a\u3064\u3064\u3042\u308b\u3082\u306e\u306e\u9577\u671f\u7684\u306b\u306f\u61f8\u5ff5\u3055\u308c\u3066\u3044\u308b\u30a4\u30f3\u30d5\u30ec\u3060\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u306f\u8907\u96d1\u306a\u72b6\u6cc1\u306b\u306a\u3063\u3066\u3044\u308b\u3002\u6700\u65b0\u306e\u72b6\u6cc1\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3092\u53c2\u8003\u306b\u3057\u3066\u3082\u3089\u3044\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/34621\" data-type=\"post\" data-id=\"34621\">2\u6708\u306e\u7c73\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u30b5\u30fc\u30d3\u30b9\u306e\u52a0\u901f\u793a\u3059\u3001\u5229\u4e0a\u3052\u3067\u6291\u3048\u308c\u3070\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>Fed\u306f\u96e3\u3057\u3044\u72b6\u6cc1\u306b\u7f6e\u304b\u308c\u3066\u3044\u308b\u3002\u30a4\u30f3\u30d5\u30ec\u3092\u61f8\u5ff5\u3059\u308b\u306a\u3089\u3070\u9ad8\u91d1\u5229\u7d99\u7d9a\u3001\u9280\u884c\u5371\u6a5f\u3092\u61f8\u5ff5\u3059\u308b\u306a\u3089\u3070\u91d1\u5229\u3092\u4e0b\u3052\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u72b6\u6cc1\u306b\u3064\u3044\u3066\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u7d4c\u6e08\u306f\u3044\u307e\u5206\u5c90\u70b9\u306b\u3042\u308b\u30021\u3064\u306e\u53ef\u80fd\u6027\u306f\u3001\u9280\u884c\u5371\u6a5f\u304c\u6ce2\u53ca\u305b\u305a\u4fe1\u7528\u306b\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u305a\u306b\u904e\u304e\u53bb\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u6df1\u523b\u5316\u3057\u3066Fed\u304c\u5e02\u5834\u306e\u7e54\u308a\u8fbc\u307f\u3088\u308a\u3082\u5927\u304d\u304f\u5f15\u304d\u7de0\u3081\u3092\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3053\u3068\u3001\u3082\u30461\u3064\u306e\u53ef\u80fd\u6027\u306f\u7d4c\u6e08\u306e\u6e1b\u901f\u304c\u6df1\u523b\u306b\u306a\u308b\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u3069\u3061\u3089\u3082\u8d77\u3053\u308a\u5f97\u308b\u53ef\u80fd\u6027\u306b\u898b\u3048\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3053\u308c\u306f\u306a\u304b\u306a\u304b\u73cd\u3057\u3044\u8b70\u8ad6\u306e\u3088\u3046\u306b\u898b\u3048\u308b\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u7b46\u8005\u3084\u8457\u540d\u6295\u8cc7\u5bb6\u305f\u3061\u306f\u5168\u54e1\u304c\u666f\u6c17\u60aa\u5316\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u304b\u3089\u3060\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/34648\" data-type=\"post\" data-id=\"34648\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u7834\u7dbb\u306f\u30c9\u30df\u30ce\u5012\u3057\u306e\u3088\u3046\u306b\u4f1d\u67d3\u3059\u308b<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35086\" data-type=\"post\" data-id=\"35086\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306f\u6570\u30f6\u6708\u3067\u666f\u6c17\u5f8c\u9000\u3001\u5229\u4e0a\u3052\u64a4\u56de\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u9280\u884c\u5371\u6a5f\u304c\u3053\u308c\u3060\u3051\u3067\u306f\u7d42\u308f\u3089\u306a\u3044\u3068\u3044\u3046\u306e\u306f\u7b46\u8005\u306b\u306f\u4e88\u60f3\u3068\u3044\u3046\u3088\u308a\u306f\u4e8b\u5b9f\u306e\u3088\u3046\u306b\u601d\u3048\u308b\u3002<\/p>\n\n\n\n<p>\u9280\u884c\u5371\u6a5f\u306b\u304a\u3051\u308b\u8b70\u8ad6\u3067\u591a\u304f\u306e\u4eba\u304c\u9593\u9055\u3063\u3066\u3044\u308b\u306e\u306f\u3001\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u304c\u4eca\u5f8c\u7d4c\u6e08\u306b\u3069\u3046\u3044\u3046\u7d50\u679c\u3092\u3082\u305f\u3089\u3059\u304b\u3092\u8003\u3048\u3066\u3044\u308b\u3053\u3068\u3060\u3002\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u306f\u5371\u6a5f\u306e\u539f\u56e0\u3067\u306f\u306a\u3044\u3002\u7d50\u679c\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u5371\u6a5f\u306e\u539f\u56e0\u306f\u9ad8\u91d1\u5229\u3067\u3042\u308b\u3002\u9ad8\u91d1\u5229\u304c\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u9867\u5ba2\u3067\u3042\u3063\u305f\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3092\u82e6\u3057\u3081\u3001\u9810\u91d1\u3092\u5f15\u304d\u51fa\u3057\u305f\u3053\u3068\u304c\u5371\u6a5f\u306e\u767a\u7aef\u3068\u306a\u3063\u305f\u3002\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u89e3\u8aac\u3057\u305f\u901a\u308a\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/34498\" data-type=\"post\" data-id=\"34498\">\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u6c7a\u7b97\u66f8\u304b\u3089\u7834\u7dbb\u306e\u7406\u7531\u3092\u89e3\u8aac\u3059\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304b\u3089\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u304c\u7d4c\u6e08\u306b\u4f55\u3092\u3082\u305f\u3089\u3059\u304b\u3067\u306f\u306a\u304f\u3001\u9ad8\u91d1\u5229\u304c\u3069\u3046\u3044\u3046\u7d50\u679c\u3092\u3082\u305f\u3089\u3059\u304b\u3092\u8003\u3048\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u305d\u3057\u3066\u9ad8\u91d1\u5229\u304c\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u3068\u305d\u306e\u9867\u5ba2\u3092\u7834\u7dbb\u3055\u305b\u305f\u306e\u306a\u3089\u3070\u3001\u9ad8\u91d1\u5229\u304c\u7d9a\u304f\u9650\u308a\u4ed6\u306e\u9280\u884c\u3082\u7834\u7dbb\u3057\u3066\u3086\u304f\u306f\u305a\u3060\u3002\u5f53\u305f\u308a\u524d\u3067\u306f\u306a\u3044\u304b\u3002<\/p>\n\n\n\n<p>\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u5929\u624d\u7684\u306a\u7d4c\u6e08\u5b66\u8005\u3060\u304c\u3001\u6295\u8cc7\u5bb6\u3067\u306f\u306a\u3044\u306e\u3067\u5e02\u5834\u306e\u529b\u5b66\u3092\u8efd\u8996\u3059\u308b\u50be\u5411\u306b\u3042\u308b\u3002\u9ad8\u91d1\u5229\u304c\u5e02\u5834\u7d4c\u6e08\u306b\u3068\u3063\u3066\u3069\u3046\u3044\u3046\u3082\u306e\u304b\u306f\u7d4c\u6e08\u6307\u6a19\u306b\u306f\u51fa\u306b\u304f\u3044\u3002\u3060\u304c\u6295\u8cc7\u5bb6\u306f\u7d4c\u6e08\u306e\u88cf\u3067\u52d5\u3044\u3066\u3044\u308b\u305d\u3046\u3044\u3046\u529b\u5b66\u3092\u91cd\u8996\u3059\u308b\u3002GDP\u3084\u5931\u696d\u7387\u306b\u305d\u308c\u304c\u8868\u308c\u308b\u6642\u306b\u306f\u5371\u6a5f\u306f\u3059\u3079\u3066\u7d42\u308f\u3063\u3066\u3044\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u9006\u306b\u5e02\u5834\u306e\u52d5\u5411\u3092\u8ffd\u6c42\u3057\u3001\u50b5\u5238\u5e02\u5834\u304c\u666f\u6c17\u5f8c\u9000\u3092\u793a\u5506\u3057\u7d9a\u3051\u3066\u3044\u305f\u3053\u3068\u3092\u6839\u62e0\u306b\u4eca\u306e\u72b6\u6cc1\u3092\u5f53\u3066\u7d9a\u3051\u3066\u3044\u308b\u306e\u304c\u50b5\u5238\u6295\u8cc7\u5bb6\u306e\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35086\" data-type=\"post\" data-id=\"35086\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306f\u6570\u30f6\u6708\u3067\u666f\u6c17\u5f8c\u9000\u3001\u5229\u4e0a\u3052\u64a4\u56de\u3078<\/a><\/li>\n<\/ul>\n\n\n\n<p>2022\u5e74\u5e8f\u76e4\u306b\u306f\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u30a4\u30f3\u30d5\u30ec\u4e88\u60f3\u306b\u3064\u3044\u3066\u8ab0\u3088\u308a\u3082\u6b63\u78ba\u3060\u3063\u305f\u3002\u3060\u304c\u3053\u3053\u304b\u3089\u306f\u6295\u8cc7\u5bb6\u306e\u30bf\u30fc\u30f3\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u7d4c\u6e08\u52d5\u5411\u306e\u4e88\u60f3\u3068\u3044\u3046\u3088\u308a\u306f\u91d1\u878d\u5371\u6a5f\u306e\u4e88\u60f3\u304c\u5fc5\u8981\u3068\u306a\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>1\u5ea6\u3067\u306f\u7d42\u308f\u3089\u306a\u3044\u7d4c\u6e08\u5371\u6a5f<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u9280\u884c\u5371\u6a5f\u304c\u3053\u306e\u307e\u307e\u7d42\u308f\u308b\u53ef\u80fd\u6027\u3092\u8003\u3048\u306a\u304c\u3089\u3082\u3001\u5b9f\u969b\u306b\u306f\u305d\u3046\u3067\u306f\u306a\u3044\u53ef\u80fd\u6027\u3092\u61f8\u5ff5\u3057\u3066\u3044\u308b\u3089\u3057\u3044\u3002\u305f\u3060\u306e\u7d4c\u6e08\u5b66\u8005\u3067\u306f\u306a\u3044\u3068\u3053\u308d\u304c\u5f7c\u306e\u51c4\u3044\u3068\u3053\u308d\u3067\u3042\u308b\u3002\u5f7c\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u904e\u53bb\u306e\u91d1\u878d\u5371\u6a5f\u3092\u6df1\u304f\u7814\u7a76\u3059\u308c\u3070\u3001\u9006\u98a8\u306f\u5927\u304d\u306a\u3082\u306e\u304c\u4e00\u5ea6\u3060\u3051\u8d77\u3053\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n\n\n\n<p>\u30d9\u30a2\u30b9\u30bf\u30fc\u30f3\u30ba\u306e\u7834\u7dbb\u304b\u3089\u30ea\u30fc\u30de\u30f3\u30d6\u30e9\u30b6\u30fc\u30ba\u306e\u7834\u7dbb\u307e\u30676\u30f6\u6708\u3042\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u30ea\u30fc\u30de\u30f3\u304c\u7834\u7dbb\u3057\u305f\u9031\u3067\u3055\u3048\u682a\u5f0f\u5e02\u5834\u306f\u4e0a\u6607\u306b\u5411\u304b\u3063\u3066\u304a\u308a\u3001Fed\u306f\u5229\u4e0b\u3052\u3092\u3057\u306a\u304b\u3063\u305f\u3002\u305d\u306e\u9031\u306eFed\u306e\u58f0\u660e\u6587\u3067\u306f\u30a4\u30f3\u30d5\u30ec\u304c\u5927\u304d\u304f\u61f8\u5ff5\u3055\u308c\u3066\u3044\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30b9\u30b3\u30c3\u30c8\u30fb\u30de\u30a4\u30ca\u30fc\u30c9\u6c0f\u306e\u6b21\u306e\u8a00\u8449\u304c\u601d\u3044\u51fa\u3055\u308c\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30a8\u30d3\u30c7\u30f3\u30b9\u306b\u57fa\u3065\u3051\u3070\u3001Fed\u306e\u4e88\u60f3\u306f\u5e38\u306b\u9593\u9055\u3063\u3066\u3044\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u306e\u6642\u306f\u3001\u3082\u3063\u3068\u53b3\u5bc6\u306b\u8a00\u3048\u3070\u30ea\u30fc\u30de\u30f3\u30d6\u30e9\u30b6\u30fc\u30ba\u306e\u7834\u7dbb\u306e1\u5e74\u534a\u524d\u306b\u5371\u6a5f\u306e\u5146\u5019\u306f\u8868\u308c\u3066\u3044\u305f\u3002\u4f4f\u5b85\u4fa1\u683c\u304c\u30d4\u30fc\u30af\u3092\u8fce\u3048\u305f\u304b\u3089\u3060\u3002\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u8a73\u3057\u304f\u8aac\u660e\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/4442\" data-type=\"post\" data-id=\"4442\">\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u6642\u306b\u304a\u3051\u308b\u7c73\u56fd\u682a\u3001\u653f\u7b56\u91d1\u5229\u3001\u4f4f\u5b85\u4fa1\u683c\u306e\u63a8\u79fb<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u308c\u304c\u65e2\u306b\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u3068\u3063\u3066\u306e\u30c1\u30a7\u30c3\u30af\u30e1\u30a4\u30c8\u3068\u306a\u3063\u3066\u3044\u305f\u3002\u3060\u304c\u8ab0\u3082\u304c\u305d\u308c\u3092\u7121\u8996\u3057\u305f\u3002\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306f\u5f53\u6642\u306e\u8457\u66f8\u300e<a rel=\"noreferrer noopener\" href=\"https:\/\/amzn.to\/3ZFTosE\" target=\"_blank\">\u30bd\u30ed\u30b9\u306f\u8b66\u544a\u3059\u308b<\/a>\u300f\u306e\u4e2d\u3067\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>2007\u5e74\u6625\u3001\u3064\u3044\u306b\u7d42\u308f\u308a\u306e\u306f\u3058\u307e\u308a\u304c\u3084\u3063\u3066\u6765\u308b\u3002\u4f4f\u5b85\u30ed\u30fc\u30f3\u5927\u624b\u306e\u30cb\u30e5\u30fc\u30fb\u30bb\u30f3\u30c1\u30e5\u30ea\u30fc\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b7\u30e3\u30eb\u793e\u304c\u3001\u30b5\u30d6\u30d7\u30e9\u30a4\u30e0\u554f\u984c\u304c\u539f\u56e0\u3067\u5012\u7523\u3057\u305f\u306e\u3060\u3002\u305d\u3053\u304b\u3089\u5148\u306f\u3001\u79c1\u306e\u30d0\u30d6\u30eb\u306e\u30e2\u30c7\u30eb\u3067\u3044\u3046\u300c\u9ec4\u660f\u306e\u671f\u9593\u300d\u3067\u3042\u308b\u3002\u4f4f\u5b85\u4fa1\u683c\u304c\u4e0b\u304c\u308a\u306f\u3058\u3081\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u30b2\u30fc\u30e0\u306e\u7d42\u4e86\u304c\u8aad\u307f\u53d6\u308c\u306a\u3044\u53c2\u52a0\u8005\u304c\u3001\u307e\u3060\u5927\u52e2\u6b8b\u3063\u3066\u3044\u308b\u6bb5\u968e\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30ea\u30fc\u30de\u30f3\u30d6\u30e9\u30b6\u30fc\u30ba\u306e\u7834\u7dbb\u306f2008\u5e74\u306e\u79cb\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306e\u884c\u65b9<\/strong><\/p>\n\n\n\n<p>\u9280\u884c\u5371\u6a5f\u3068\u30a4\u30f3\u30d5\u30ec\u3068\u3044\u3046\u4e8c\u91cd\u82e6\u306b\u8feb\u3089\u308c\u305f\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u3064\u3044\u3066\u3001\u30b5\u30de\u30fc\u30ba\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7e8f\u3081\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30bd\u30d5\u30c8\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u306f\u6700\u826f\u306e\u72b6\u6cc1\u4e0b\u3067\u3082\u975e\u5e38\u306b\u96e3\u3057\u3044\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u7b46\u8005\u306f2022\u5e74\u306e\u59cb\u3081\u304b\u3089\u305a\u3063\u3068\u8a00\u3063\u3066\u3044\u308b\u304c\u3001\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u65e2\u306b\u8a70\u3093\u3067\u3044\u308b\u3002\u73fe\u91d1\u7d66\u4ed8\u306a\u3069\u306e\u30a4\u30f3\u30d5\u30ec\u653f\u7b56\u304c\u898b\u4e8b\u306b\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u6642\u70b9\u3067\u3059\u3079\u3066\u7d42\u308f\u308a\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33013\" data-type=\"post\" data-id=\"33013\">\u4e16\u754c\u6700\u9ad8\u306e\u7d4c\u6e08\u5b66\u8005\u30b5\u30de\u30fc\u30ba\u6c0f\u304c\u8aac\u660e\u3059\u308b\u30a4\u30f3\u30d5\u30ec\u306e\u672c\u5f53\u306e\u7406\u7531<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u308c\u304c\u9280\u884c\u306e\u7834\u7dbb\u306a\u3069\u306e\u500b\u3005\u306e\u554f\u984c\u306b\u8868\u308c\u3066\u3044\u308b\u306b\u904e\u304e\u306a\u3044\u3002\u3060\u304c\u682a\u5f0f\u5e02\u5834\u306f\u3053\u3053\u6570\u65e5\u4e0a\u6607\u3057\u3066\u3044\u308b\u3002\u4ee5\u4e0b\u306fS&amp;P 500\u306e\u30c1\u30e3\u30fc\u30c8\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-1-s-and-p-500-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"618\" height=\"406\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-1-s-and-p-500-chart.png\" alt=\"\" class=\"wp-image-35334\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-1-s-and-p-500-chart.png 618w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/04\/2023-4-1-s-and-p-500-chart-300x197.png 300w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\" \/><\/a><\/figure>\n\n\n\n<p>\u9280\u884c\u5371\u6a5f\u524d\u306e\u6c34\u6e96\u3092\u4e0a\u56de\u3063\u3066\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u72b6\u6cc1\u306b\u3064\u3044\u3066\u3082\u7b46\u8005\u306f\u4e8b\u524d\u306b\u6b21\u306e\u3088\u3046\u306b\u66f8\u3044\u3066\u4e88\u60f3\u3057\u3066\u304a\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/34869\" data-type=\"post\" data-id=\"34869\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u7d4c\u6e08\u30af\u30e9\u30c3\u30b7\u30e5\u3067\u91cf\u7684\u7de9\u548c\u518d\u958b\u307e\u3067\u3042\u30681\u5e74\u4ee5\u5185 (2023\/3\/22)<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u6295\u8cc7\u5bb6\u306f\u99ac\u9e7f\u306a\u306e\u3067\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u3082\u3082\u3046\u5c11\u3057\u3059\u308c\u3070\u5fd8\u308c\u308b\u3060\u308d\u3046\u304c\u30012008\u5e74\u306b\u30d9\u30a2\u30b9\u30bf\u30fc\u30f3\u30ba\u306e\u6b21\u306b\u30ea\u30fc\u30de\u30f3\u30d6\u30e9\u30b6\u30fc\u30ba\u304c\u7834\u7dbb\u3057\u305f\u3088\u3046\u306b\u3001\u307e\u305f\u6b21\u306e\u4e8b\u6545\u304c\u8d77\u3053\u308b\u3053\u3068\u3067\u982d\u3092\u3082\u3046\u4e00\u5ea6\u53e9\u304b\u308c\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u307e\u3055\u306b\u305d\u306e\u901a\u308a\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3044\u3064\u982d\u3092\u53e9\u304b\u308c\u308b\u304b\u3001\u305d\u306e\u65e5\u4ed8\u3092\u53b3\u5bc6\u306b\u4e88\u60f3\u3059\u308b\u3053\u3068\u306f\u4e0d\u53ef\u80fd\u3067\u3042\u308b\u3002\u3060\u304b\u3089\u77ed\u671f\u7684\u306a\u52d5\u304d\u306f\u7121\u8996\u3057\u3066\u7c9b\u3005\u3068\u9577\u671f\u30c8\u30ec\u30f3\u30c9\u306b\u8ced\u3051\u308b\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u4eca\u306e\u72b6\u6cc1\u306f\u300e<a rel=\"noreferrer noopener\" href=\"https:\/\/amzn.to\/3ZFTosE\" target=\"_blank\">\u30bd\u30ed\u30b9\u306f\u8b66\u544a\u3059\u308b<\/a>\u300f\u306b\u304a\u3051\u308b\u30bd\u30ed\u30b9\u6c0f\u306e\u8a00\u8449\u3092\u3082\u3058\u3063\u3066\u6b21\u306e\u3088\u3046\u306b\u8a00\u3048\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306e\u7834\u7dbb\u304c\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306b\u5bfe\u3059\u308b\u9ad8\u91d1\u5229\u306e\u5f71\u97ff\u3092\u660e\u3089\u304b\u306b\u7269\u8a9e\u3063\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u30b2\u30fc\u30e0\u306e\u7d42\u4e86\u3092\u8aad\u307f\u53d6\u308c\u306a\u3044\u53c2\u52a0\u8005\u304c\u307e\u3060\u5927\u52e2\u6b8b\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u308d\u305d\u308d\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u524d\u306e\u72b6\u6cc1\u3092\u5fa9\u7fd2\u3057\u3066\u304a\u3044\u305f\u65b9\u304c\u826f\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<a href=\"https:\/\/www.amazon.co.jp\/%E3%82%BD%E3%83%AD%E3%82%B9%E3%81%AF%E8%AD%A6%E5%91%8A%E3%81%99%E3%82%8B-%E8%B6%85%E3%83%90%E3%83%96%E3%83%AB%E5%B4%A9%E5%A3%8A-%E6%82%AA%E5%A4%A2%E3%81%AE%E3%82%B7%E3%83%8A%E3%83%AA%E3%82%AA-%E3%82%B8%E3%83%A7%E3%83%BC%E3%82%B8%E3%83%BB%E3%82%BD%E3%83%AD%E3%82%B9\/dp\/406214915X?__mk_ja_JP=%E3%82%AB%E3%82%BF%E3%82%AB%E3%83%8A&#038;crid=29C5HHAJBMH0P&#038;keywords=%E3%82%BD%E3%83%AD%E3%82%B9%E3%81%AF%E8%AD%A6%E5%91%8A%E3%81%99%E3%82%8B&#038;qid=1680328767&#038;sprefix=%E3%82%BD%E3%83%AD%E3%82%B9%E3%81%AF%E8%AD%A6%E5%91%8A%E3%81%99%E3%82%8B%2Caps%2C225&#038;sr=8-1&#038;linkCode=li2&#038;tag=globalmacrore-22&#038;linkId=5050cbf8a1bf3c0f8ccbc0666ede71ad&#038;language=ja_JP&#038;ref_=as_li_ss_il\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" border=\"0\" src=\"\/\/ws-fe.amazon-adsystem.com\/widgets\/q?_encoding=UTF8&#038;ASIN=406214915X&#038;Format=_SL160_&#038;ID=AsinImage&#038;MarketPlace=JP&#038;ServiceVersion=20070822&#038;WS=1&#038;tag=globalmacrore-22&#038;language=ja_JP\" ><\/a><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ir-jp.amazon-adsystem.com\/e\/ir?t=globalmacrore-22&#038;language=ja_JP&#038;l=li2&#038;o=9&#038;a=406214915X\" width=\"1\" height=\"1\" border=\"0\" alt=\"\" style=\"border:none !important; margin:0px !important;\" \/><br><a href=\"https:\/\/amzn.to\/3ZFTosE\" target=\"_blank\" rel=\"noreferrer noopener\">\u30bd\u30ed\u30b9\u306f\u8b66\u544a\u3059\u308b<\/a>\n","protected":false},"excerpt":{"rendered":"<p>\u30a2\u30e1\u30ea\u30ab\u306e\u5143\u8ca1\u52d9\u9577\u5b98\u3067\u30de\u30af\u30ed\u7d4c\u6e08\u5b66\u8005\u306e\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u304c\u3001Bloomberg\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u9280\u884c\u5371\u6a5f\u3068Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u91d1\u878d\u653f\u7b56\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":[59,118,111,108],"tags":[98],"class_list":["post-35302","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-us-bond-market","category-stock-markets","category-bond-markets","tag-larry-summers"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/35302","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=35302"}],"version-history":[{"count":50,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/35302\/revisions"}],"predecessor-version":[{"id":35353,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/35302\/revisions\/35353"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=35302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=35302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=35302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}