{"id":36808,"date":"2023-05-14T20:20:12","date_gmt":"2023-05-14T11:20:12","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=36808"},"modified":"2023-05-15T00:43:45","modified_gmt":"2023-05-14T15:43:45","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%aa%e3%83%bc%e3%83%9e%e3%83%b3%e3%82%b7%e3%83%a7%e3%83%83%e3%82%af%e3%82%88%e3%82%8a%e9%85%b7%e3%81%8f%e3%81%aa","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36808","title":{"rendered":"\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3088\u308a\u9177\u304f\u306a\u308b\u53ef\u80fd\u6027\u306f\u5426\u5b9a\u3067\u304d\u306a\u3044"},"content":{"rendered":"\n<p>\u5f15\u304d\u7d9a\u304d\u3001\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306e\u30af\u30a9\u30f3\u30bf\u30e0\u30d5\u30a1\u30f3\u30c9\u3092\u904b\u7528\u3057\u305f\u3053\u3068\u3067\u77e5\u3089\u308c\u308b\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306eSohn Conference\u306b\u304a\u3051\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u63a8\u79fb\u4e88\u60f3<\/strong><\/p>\n\n\n\n<p>\u524d\u56de\u306e\u8a18\u4e8b\u3067\u306f\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u304c\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u307e\u3067\u3042\u3068\u534a\u5e74\u307b\u3069\u3060\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u90e8\u5206\u3092\u53d6\u308a\u4e0a\u3052\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36802\" data-type=\"post\" data-id=\"36802\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u3042\u3068\u534a\u5e74\u3067\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u3001\u7c73\u56fd\u7d4c\u6e08\u306b\u6b7b\u4f53\u304c\u7a4d\u307f\u4e0a\u304c\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304c\u4eca\u56de\u306f\u3053\u308c\u307e\u3067\u306e\u7d4c\u6e08\u5371\u6a5f\u3068\u306f\u9055\u3044\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u8d77\u3053\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u554f\u984c\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u304c\u8d77\u3053\u3063\u305f\u6642\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4e0b\u304c\u3063\u3066\u3044\u308b\u306e\u304b\uff1f\u3000\u4e0b\u304c\u3063\u3066\u3044\u308c\u3070\u3001\u666e\u901a\u306e\u4e0d\u6cc1\u3060\u3002\u4e0b\u304c\u3063\u3066\u3044\u306a\u3051\u308c\u3070\u3001\u4e0d\u666f\u6c17\u3068\u7269\u4fa1\u9ad8\u304c\u4e21\u65b9\u6765\u308b\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u63a8\u79fb\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\">\n<p>\u96e3\u3057\u3044\u306e\u306f\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u3092\u3069\u3046\u898b\u308b\u304b\u3060\u3002<\/p>\n\n\n\n<p>\u30a8\u30c9\u30fb\u30cf\u30a4\u30de\u30f3\u6c0f\u306f\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u304c\u53f2\u4e0a\u6700\u901f\u306e\u901f\u3055\u3067\u7e2e\u5c0f\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u6307\u6458\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u8a71\u306f\u305d\u308c\u307b\u3069\u7c21\u5358\u3058\u3083\u306a\u3044\u3002\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306f\u6570\u5e74\u524d\u3068\u6bd4\u3079\u308b\u306830%\u5f8c\u534a\u304b\u308940%\u307b\u3069\u62e1\u5927\u3057\u3066\u3044\u308b\u3002\u3060\u304b\u3089\u7a4d\u307f\u4e0a\u304c\u3063\u3066\u3044\u308b\u304a\u91d1\u306e\u91cf\u306f\u305d\u308c\u3067\u3082\u6975\u3081\u3066\u591a\u3044\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u3068\u306f\u5e02\u4e2d\u306b\u5b58\u5728\u3057\u3066\u3044\u308b\u73fe\u91d1\u3084\u9810\u91d1\u306e\u7dcf\u984d\u3067\u3042\u308b\u3002\u30b3\u30ed\u30ca\u5f8c\u306b\u73fe\u91d1\u7d66\u4ed8\u306b\u3088\u3063\u3066\u3070\u3089\u6492\u304b\u308c\u305f\u591a\u984d\u306e\u304a\u91d1\u306f\u4eca\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u306e\u304b\uff1f\u3000\u5b9f\u8cea\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\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\/2023\/05\/2023-mar-us-real-m2-money-stock-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-mar-us-real-m2-money-stock-chart.png\" alt=\"\" class=\"wp-image-36811\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-mar-us-real-m2-money-stock-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-mar-us-real-m2-money-stock-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p>Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u306e\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u3088\u3063\u3066\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306f\u6025\u6e1b\u3057\u3066\u3044\u308b\u3002\u3060\u304c\u7d76\u5bfe\u6c34\u6e96\u3067\u8a00\u3048\u3070\u305d\u308c\u3067\u3082\u30b3\u30ed\u30ca\u524d\u3088\u308a\u3082\u304b\u306a\u308a\u591a\u3044\u306e\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u305d\u3082\u305d\u3082\u30b3\u30ed\u30ca\u5f8c\u306b\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u304c\u9177\u3044\u3053\u3068\u306b\u306a\u3063\u305f\u306e\u304c\u30b0\u30e9\u30d5\u304b\u3089\u5206\u304b\u308b\u3060\u308d\u3046\u3002\u305d\u308c\u3092\u62bc\u3057\u4e0a\u3052\u305f\u306e\u306f\u73fe\u91d1\u7d66\u4ed8\u3067\u3042\u308b\u3002\u3053\u308c\u3067\u30a4\u30f3\u30d5\u30ec\u306b\u306a\u3089\u306a\u3044\u3068\u8a00\u3063\u305f\u99ac\u9e7f\u306f\u4eca\u3069\u3046\u3057\u3066\u3044\u308b\u306e\u304b\u3002\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306f\u305d\u308c\u304f\u3089\u3044\u306f12\u624d\u5150\u3067\u3082\u5206\u304b\u308b\u3068\u8ff0\u3079\u3066\u3044\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<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>\n<\/ul>\n\n\n\n<p><strong>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u63a8\u79fb\u4e88\u60f3<\/strong><\/p>\n\n\n\n<p>\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u304c\u6025\u6e1b\u3057\u306a\u304c\u3089\u3082\u307e\u3060\u7a4d\u307f\u4e0a\u304c\u3063\u3066\u3044\u308b\u3053\u3068\u306f\u3001\u6050\u3089\u304f\u30a2\u30e1\u30ea\u30ab\u306b\u666f\u6c17\u5f8c\u9000\u304c\u307e\u3060\u6765\u3066\u3044\u306a\u3044\u3053\u3068\u3001\u7279\u306b\u6d88\u8cbb\u304c\u3044\u307e\u3060\u306b\u5f37\u3044\u3053\u3068\u306e\u539f\u56e0\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067GDP\u306e\u5185\u8a33\u3092\u5206\u6790\u3057\u3066\u3044\u308b\u304c\u3001\u305d\u308c\u304c\u306a\u304b\u3063\u305f\u3089\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u65e2\u306b\u666f\u6c17\u5f8c\u9000\u3057\u3066\u3044\u308b\u306f\u305a\u3060\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36252\" data-type=\"post\" data-id=\"36252\">\u307e\u3059\u307e\u3059\u5f31\u3063\u3066\u3086\u304f\u30a2\u30e1\u30ea\u30abGDP\u30012023\u5e74\u7b2c1\u56db\u534a\u671f\u306f\u4e88\u60f3\u4ee5\u4e0a\u306e\u6e1b\u901f<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3057\u304b\u3057\u305d\u308c\u3067\u3082\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306f\u6025\u6e1b\u901f\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u5e74\u672b\u5e74\u59cb\u9803\u306b\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u306f\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u306b\u306a\u308b\u3068\u4e88\u60f3\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36802\" data-type=\"post\" data-id=\"36802\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u3042\u3068\u534a\u5e74\u3067\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u3001\u7c73\u56fd\u7d4c\u6e08\u306b\u6b7b\u4f53\u304c\u7a4d\u307f\u4e0a\u304c\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3067\u306f\u305d\u306e\u9803\u306b\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u306e\u304b\uff1f\u3000\u5f7c\u306f\u4ee5\u4e0a\u306e\u3053\u3068\u3092\u3059\u3079\u3066\u8003\u616e\u306b\u5165\u308c\u305f\u4e0a\u3067\u6b21\u306e\u3088\u3046\u306b\u4e88\u60f3\u3059\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4eca\u5f8c6\u30f6\u6708\u304b\u30899\u30f6\u6708\u3067\u6050\u3089\u304f3%\u304b\u30893.5%\u8fba\u308a\u307e\u3067\u4e0b\u304c\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u73fe\u5728\u30a2\u30e1\u30ea\u30ab\u306e\u30a4\u30f3\u30d5\u30ec\u7387\u306f5.0%\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/36764\" data-type=\"post\" data-id=\"36764\">\u30b5\u30d7\u30e9\u30a4\u30ba\u306a\u3057\u306e4\u6708\u7c73\u56fd\u30a4\u30f3\u30d5\u30ec\u7387\u767a\u8868\u3067\u30c9\u30eb\u5b89\u306b\u52d5\u3044\u305f\u7406\u7531<\/a><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-cpi-growth.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-cpi-growth.png\" alt=\"\" class=\"wp-image-36767\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-cpi-growth.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-cpi-growth-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u30a4\u30f3\u30d5\u30ec\u7387\u306e\u9577\u671f\u898b\u901a\u3057<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u554f\u984c\u306f\u305d\u306e\u5f8c\u3067\u3042\u308b\u3002\u30cf\u30fc\u30c9\u30e9\u30f3\u30c7\u30a3\u30f3\u30b0\u306b\u9665\u3063\u305f\u6642\u306b\u4e2d\u592e\u9280\u884c\u304c\u3069\u3046\u3059\u308b\u306e\u304b\u306b\u3088\u3063\u3066\u305d\u306e\u5f8c\u306e\u30b7\u30ca\u30ea\u30aa\u304c\u5909\u308f\u3063\u3066\u304f\u308b\u3002<\/p>\n\n\n\n<p>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\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>\u305d\u3053\u304b\u3089\u304c\u96e3\u3057\u3044\u3002Fed\u304c\u3069\u3046\u3059\u308b\u304b\u4e88\u60f3\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u304b\u3089\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>Fed\u304c\u7de9\u548c\u306b\u9006\u623b\u308a\u3059\u308c\u3070\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u306b\u306a\u308a\u3001\u5f15\u304d\u7de0\u3081\u3092\u7d9a\u3051\u308c\u3070\u7d4c\u6e08\u6050\u614c\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u524d\u56de\u306e\u8a18\u4e8b\u3067\u3082\u8a00\u3063\u3066\u3044\u305f\u304c\u3001\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u57fa\u672c\u7684\u306b\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3092\u30e1\u30a4\u30f3\u30b7\u30ca\u30ea\u30aa\u3068\u3057\u3066\u3044\u308b\u3002\u7406\u7531\u306f\u6b74\u53f2\u4e0a\u7de9\u548c\u3092\u3084\u308a\u904e\u304e\u3066\u554f\u984c\u3092\u5f15\u304d\u8d77\u3053\u3057\u3066\u304d\u305fFed\u306e\u7d4c\u6b74\u3067\u3042\u308b\u3002\u5f7c\u306f\u6b21\u306e\u3088\u3046\u306b\u8ff0\u3079\u308b\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u308f\u305f\u3057\u306f2000\u5e74\u30842021\u5e74\u304b\u30892022\u5e74\u524d\u534a\u307e\u3067\u306b\u304a\u3051\u308bFed\u306e\u5bfe\u5fdc\u306b\u672c\u5f53\u306b\u9a5a\u3044\u3066\u3044\u308b\u3002\u305d\u3057\u3066\u6765\u5e74\u304c\u5927\u7d71\u9818\u9078\u6319\u306e\u5e74\u3067\u3042\u308b\u3053\u3068\u3092\u8003\u616e\u3059\u3079\u304d\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u30d0\u30a4\u30c7\u30f3\u653f\u6a29\u304c\u30d1\u30a6\u30a8\u30eb\u8b70\u9577\u306b\u5727\u529b\u3092\u639b\u3051\u308b\u3053\u3068\u3092\u60f3\u5b9a\u3057\u3066\u3044\u308b\u306e\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f1970\u5e74\u4ee3\u306b\u304a\u3051\u308bFed\u306e\u8b70\u9577\u3001\u30dd\u30fc\u30eb\u30fb\u30dc\u30eb\u30ab\u30fc\u6c0f\u306e\u524d\u4efb\u8005\u3067\u7de9\u548c\u7684\u306a\u653f\u7b56\u3067\u30a4\u30f3\u30d5\u30ec\u3092\u60aa\u5316\u3055\u305b\u305f\u30a2\u30fc\u30b5\u30fc\u30fb\u30d0\u30fc\u30f3\u30ba\u6c0f\u3092\u6301\u3061\u51fa\u3057\u3066\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>\u30a4\u30f3\u30d5\u30ec\u7387\u304c3%\u304b3.5%\u307e\u3067\u4e0b\u304c\u3063\u305f\u6642\u306b\u5f7c\u3089\u304c\u30a2\u30fc\u30b5\u30fc\u30fb\u30d0\u30fc\u30f3\u30ba\u6c0f\u306e\u3088\u3046\u306b\u5bfe\u5fdc\u3059\u308b\u306a\u3089\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u4e0b\u304c\u3063\u305f\u6642\u306b\u5373\u5ea7\u306b\u53cd\u5fdc\u305b\u305a\u9f8d\u3092\u6bba\u3057\u304d\u3089\u306a\u3044\u306a\u3089\u3070\u3001\u4eca\u5f8c\u6570\u5e74\u306f\u30a4\u30f3\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u304b\u3001\u6050\u3089\u304f\u306f\u30b9\u30bf\u30b0\u30d5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u306a\u308b\u3068\u3044\u3046\u3053\u3068\u3092\u5f37\u8abf\u3057\u305f\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u3060\u304c\u4e00\u65b9\u3067\u3001\u6b21\u306e\u3088\u3046\u306b\u73fe\u5728\u306e\u4e16\u754c\u7d4c\u6e08\u306b\u306f\u5de8\u5927\u306a\u30c7\u30d5\u30ec\u5727\u529b\u3082\u5b58\u5728\u3059\u308b\u3053\u3068\u306b\u3082\u8a00\u53ca\u3057\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>\u3042\u308b\u3044\u306f\u73fe\u5728\u306e\u5de8\u5927\u306a\u8cc7\u7523\u30d0\u30d6\u30eb\u304c\u5f3e\u3051\u305f\u5834\u5408\u3001\u3082\u3046\u7d4c\u6e08\u306f\u3069\u3046\u306b\u3082\u306a\u3089\u306a\u3044\u304b\u3082\u3057\u308c\u306a\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u7d50\u5c40\u306fFed\u304c\u7269\u4fa1\u9ad8\u9a30\u304b\u7d4c\u6e08\u6050\u614c\u304b\u3069\u3061\u3089\u3092\u9078\u3076\u306e\u304b\u3068\u3044\u3046\u554f\u984c\u306b\u5e30\u7740\u3059\u308b\u3002\u3060\u304b\u3089\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u7b11\u3044\u306a\u304c\u3089\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\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>\u5148\u9031\u793e\u5185\u3067\u4f1a\u8b70\u304c\u3042\u3063\u305f\u306e\u3060\u304c\u3001\u305d\u3053\u3067\u308f\u305f\u3057\u306f\u3053\u3046\u8a00\u3063\u305f\u3002\u30a4\u30f3\u30d5\u30ec\u7387\u306f\u4eca\u5f8c3\u5e748%\u3067\u63a8\u79fb\u3059\u308b\u3068\u3082\u8a00\u3048\u308b\u3057\u3001\u30c7\u30d5\u30ec\u306b\u306a\u308b\u3068\u3082\u8a00\u3048\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u3060\u304c\u30a4\u30f3\u30d5\u30ec\u7b2c2\u6ce2\u3067\u3082\u7d4c\u6e08\u6050\u614c\u3067\u3082\u7d4c\u6e08\u306f\u9177\u3044\u3053\u3068\u306b\u306a\u308b\u3060\u308d\u3046\u3002\u305d\u308c\u304c\u30a4\u30f3\u30d5\u30ec\u3068\u3044\u3046\u30d1\u30f3\u30c9\u30e9\u306e\u7bb1\u3092\u958b\u3051\u3066\u3057\u307e\u3063\u305f\u7d19\u5e63\u3070\u3089\u6492\u304d\u306e\u672b\u8def\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\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/33890\" data-type=\"post\" data-id=\"33890\">\u30dd\u30fc\u30eb\u30bd\u30f3\u6c0f: \u91cf\u7684\u7de9\u548c\u304c\u30a4\u30f3\u30d5\u30ec\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u305d\u308c\u306f\u3069\u308c\u304f\u3089\u3044\u9177\u3044\u7d50\u679c\u306b\u306a\u308b\u306e\u304b\u3002\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u6b21\u306e\u3088\u3046\u306b\u7d9a\u3051\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>\u3053\u308c\u306f2007\u5e74\u30842008\u5e74\u3068\u306f\u9055\u3046\u3068\u3044\u3046\u3053\u3068\u304c\u7e70\u308a\u8fd4\u3057\u8a00\u308f\u308c\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u3046\u8a00\u3063\u3066\u3044\u308b\u4eba\u3005\u304c2007\u5e74\u306b\u5371\u6a5f\u3092\u4e88\u60f3\u3057\u305f\u3068\u3044\u3046\u8a71\u3092\u805e\u3044\u305f\u3053\u3068\u304c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u308f\u305f\u3057\u306f2008\u5e74\u3088\u308a\u60aa\u3044\u72b6\u6cc1\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u660e\u65e5\u306e\u30cb\u30e5\u30fc\u30b9\u3067\u308f\u305f\u3057\u304c\u305d\u3046\u8a00\u3063\u305f\u3068\u3044\u3046\u898b\u51fa\u3057\u3092\u4ed8\u3051\u3066\u307b\u3057\u304f\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3053\u308c\u3060\u3051\u306e\u8cc7\u7523\u30d0\u30d6\u30eb\u306e\u5f8c\u3067\u3042\u308b\u3053\u3068\u3001\u30bc\u30ed\u91d1\u5229\u306e\u3042\u3068\u306b\u53f2\u4e0a\u3082\u3063\u3068\u3082\u6025\u6fc0\u306a\u91d1\u5229\u306e\u4e0a\u6607\u304c\u3042\u3063\u305f\u3053\u3068\u3092\u8003\u3048\u308b\u3068\u3001\u672c\u5f53\u306b\u9177\u3044\u3053\u3068\u304c\u8d77\u304d\u308b\u53ef\u80fd\u6027\u3092\u9664\u5916\u3059\u308b\u306e\u306f\u672c\u5f53\u306b\u30ca\u30a4\u30fc\u30d6\u3060\u3068\u601d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u4e00\u4f53\u3069\u3046\u306a\u308b\u3060\u308d\u3046\u304b\u3002\u3060\u304c\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3092\u542b\u3081\u3001\u3042\u30681\u5e74\u4ee5\u5185\u3060\u3068\u8a00\u3044\u59cb\u3081\u305f\u5c02\u9580\u5bb6\u304c\u591a\u3044\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\/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<\/a><\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5f15\u304d\u7d9a\u304d\u3001\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306e\u30af\u30a9\u30f3\u30bf\u30e0\u30d5\u30a1\u30f3\u30c9\u3092\u904b\u7528\u3057\u305f\u3053\u3068\u3067\u77e5\u3089\u308c\u308b\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306eSohn Conference\u306b\u304a\u3051\u308b\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u3042\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":[130],"class_list":["post-36808","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-us-bond-market","category-stock-markets","category-bond-markets","tag-stanley-druckenmiller"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/36808","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=36808"}],"version-history":[{"count":8,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/36808\/revisions"}],"predecessor-version":[{"id":36817,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/36808\/revisions\/36817"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=36808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=36808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=36808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}