{"id":37730,"date":"2023-06-25T19:51:23","date_gmt":"2023-06-25T10:51:23","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=37730"},"modified":"2023-06-25T19:51:25","modified_gmt":"2023-06-25T10:51:25","slug":"1-3%e5%85%86%e3%83%89%e3%83%ab%e3%81%ae%e7%b1%b3%e5%9b%bd%e5%82%b5%e7%99%ba%e8%a1%8c%e3%81%af%e3%82%a2%e3%83%a1%e3%83%aa%e3%82%ab%e3%81%ae%e9%87%91%e5%88%a9%e3%82%92%e9%ab%98%e9%a8%b0%e3%81%95","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37730","title":{"rendered":"1.3\u5146\u30c9\u30eb\u306e\u7c73\u56fd\u50b5\u767a\u884c\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u5229\u3092\u9ad8\u9a30\u3055\u305b\u308b\u304b\uff1f"},"content":{"rendered":"\n<p>\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u50b5\u52d9\u4e0a\u9650\u554f\u984c\u304c\u89e3\u6c7a\u3055\u308c\u3001\u3053\u308c\u307e\u3067\u6ede\u3063\u3066\u3044\u305f\u7c73\u56fd\u50b5\u306e\u767a\u884c\u304c\u518d\u958b\u3055\u308c\u308b\u3088\u3046\u306b\u306a\u3063\u305f\u3002\u3060\u304c\u767a\u884c\u3055\u308c\u308b\u56fd\u50b5\u306e\u91cf\u304c\u5927\u91cf\u3060\u3068\u3044\u3046\u3053\u3068\u304c\u5e02\u5834\u3067\u8a71\u984c\u306b\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u30c9\u30a4\u30c4\u9280\u884c\u306e\u63a8\u8a08\u3067\u306f\u305d\u306e\u7dcf\u984d\u306f1.3\u5146\u30c9\u30eb\u306b\u53ca\u3076\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u6307\u6458\u3055\u308c\u3066\u3044\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306eGDP\u306e5%\u5206\u3067\u3042\u308b\u3002\u305d\u308c\u304c\u91d1\u878d\u5e02\u5834\u306b\u3069\u306e\u3088\u3046\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u50b5\u52d9\u4e0a\u9650\u554f\u984c<\/strong><\/p>\n\n\n\n<p>\u307e\u305a\u306f\u3053\u308c\u307e\u3067\u306e\u7d4c\u7def\u3092\u7e8f\u3081\u3066\u307f\u3088\u3046\u3002\u30a2\u30e1\u30ea\u30ab\u306b\u306f\u50b5\u52d9\u4e0a\u9650\u3068\u3044\u3046\u3082\u306e\u304c\u3042\u308a\u3001\u767a\u884c\u3067\u304d\u308b\u56fd\u50b5\u306e\u91cf\u304c\u6cd5\u5f8b\u3067\u6c7a\u307e\u3063\u3066\u3044\u308b\u3002\u305d\u3057\u3066\u4e0a\u9650\u304c\u6765\u308b\u5ea6\u306b\u4e0e\u515a\u3068\u91ce\u515a\u304c\u4ea4\u6e09\u3057\u3066\u4e0a\u9650\u3092\u4e0a\u3052\u308b\u3068\u3044\u3046\u3053\u3068\u304c\u4f55\u5ea6\u3082\u884c\u308f\u308c\u3066\u304d\u305f\u3002<\/p>\n\n\n\n<p>2023\u5e74\u3088\u308a\u524d\u306b\u6700\u5f8c\u306b\u4e0a\u9650\u304c\u4e0a\u3052\u3089\u308c\u305f\u306e\u306f2021\u5e7412\u6708\u3001\u4eca\u3068\u540c\u3058\u30d0\u30a4\u30c7\u30f3\u653f\u6a29\u306e\u6642\u3067\u3042\u308b\u3002\u5f53\u6642\u3001\u4e0e\u515a\u6c11\u4e3b\u515a\u3068\u91ce\u515a\u5171\u548c\u515a\u306e\u4e89\u3044\u306e\u672b\u306b\u3001\u50b5\u52d9\u4e0a\u9650\u306f31.381\u5146\u30c9\u30eb\u306b\u4e0a\u3052\u3089\u308c\u305f\u3002<\/p>\n\n\n\n<p>\u4eca\u56de\u554f\u984c\u3068\u306a\u3063\u305f\u306e\u306f\u3053\u306e\u4e0a\u9650\u3067\u3042\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u5e9c\u50b5\u52d9\u306e\u30b0\u30e9\u30d5\u3092\u898b\u308b\u3068\u30012022\u5e74\u7b2c4\u56db\u534a\u671f\u306b\u65e2\u306b\u3053\u306e\u4e0a\u9650\u306b\u307b\u307c\u9054\u3057\u3001\u305d\u306e\u5f8c\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u5e9c\u50b5\u52d9\u306f\u3042\u307e\u308a\u5897\u3048\u3066\u3044\u306a\u3044\u3053\u3068\u304c\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\/2023\/06\/2023-1q-us-government-debt-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"448\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-1q-us-government-debt-chart.png\" alt=\"\" class=\"wp-image-37735\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-1q-us-government-debt-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-1q-us-government-debt-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p>\u65b0\u305f\u306a\u501f\u91d1\u304c\u51fa\u6765\u306a\u3044\u9593\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u304c\u3069\u3046\u3057\u3066\u3044\u305f\u304b\u3068\u8a00\u3048\u3070\u3001\u65e2\u306b\u6301\u3063\u3066\u3044\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u3060\u3051\u3067\u4f55\u3068\u304b\u3059\u308b\u3057\u304b\u306a\u304b\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u3082\u5f90\u3005\u306b\u5c3d\u304d\u59cb\u3081\u3001\u4eca\u5e745\u6708\u306b\u306f\u50b5\u52d9\u4e0a\u9650\u3092\u3069\u3046\u306b\u304b\u3059\u308b\u305f\u3081\u306b\u4e0e\u515a\u3068\u91ce\u515a\u304c\u8a71\u3057\u5408\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p><strong>\u89e3\u6c7a\u3055\u308c\u305f\u50b5\u52d9\u4e0a\u9650<\/strong><\/p>\n\n\n\n<p>\u7d50\u5c40\u306f\u3044\u3064\u3082\u306e\u3088\u3046\u306b\u571f\u58c7\u5834\u3067\u5408\u610f\u304c\u306a\u3055\u308c\u305f\u308f\u3051\u3060\u304c\u3001\u5408\u610f\u524d\u306b\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u6b21\u306e\u3088\u3046\u306b\u8a00\u3063\u3066\u3044\u305f\u3053\u3068\u3092\u601d\u3044\u51fa\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37042\" data-type=\"post\" data-id=\"37042\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u30a2\u30e1\u30ea\u30ab\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u3059\u308b\u306e\u304b\uff1f<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u4e00\u756a\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u306e\u306f\u3001\u6c11\u4e3b\u515a\u3068\u5171\u548c\u515a\u304c\u30c7\u30d5\u30a9\u30eb\u30c8\u3092\u8a31\u3055\u305a\uff08\u3042\u308b\u3044\u306f\u30c7\u30d5\u30a9\u30eb\u30c8\u3057\u3066\u3082\u9577\u304f\u306f\u7d9a\u304b\u305a\uff09\u3001\u3057\u304b\u3082\u91cd\u8981\u306a\u8b70\u984c\u3067\u5927\u3057\u305f\u5408\u610f\u3092\u5f62\u6210\u3057\u306a\u3044\u3068\u3044\u3046\u3082\u306e\u3060\u3002\u5f7c\u3089\u306f\u3080\u3057\u308d\u5b9f\u8cea\u3088\u308a\u3082\u898b\u305f\u76ee\u306e\u307b\u3046\u304c\u826f\u3044\u3088\u3046\u306a\u5408\u610f\uff08\u4f8b\u3048\u3070\u50b5\u52d9\u3092\u5c06\u6765\u6e1b\u3089\u3059\u3068\u7d04\u675f\u3057\u3066\u305d\u306e\u6642\u9593\u304c\u6765\u308c\u3070\u5b9f\u884c\u3057\u306a\u3044\u3068\u304b\uff09\u3092\u4f55\u3068\u304b\u3057\u3066\u4f5c\u308a\u4e0a\u3052\u308b\u3060\u308d\u3046\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u305d\u3057\u3066\u4e8b\u5b9f\u307b\u3068\u3093\u3069\u305d\u306e\u307e\u307e\u306e\u5408\u610f\u304c\u306a\u3055\u308c\u305f\u3002\u7dca\u7e2e\u8ca1\u653f\u3092\u304b\u304b\u3052\u308b\u5171\u548c\u515a\u304c\u50b5\u52d9\u3092\u5897\u3084\u3055\u306a\u3044\u3088\u3046\u58f0\u9ad8\u306b\u8a00\u3063\u3066\u3044\u305f\u5272\u308a\u306b\u306f\u3001\u50b5\u52d9\u4e0a\u9650\u306f\u666e\u901a\u306b\u7121\u304b\u3063\u305f\u3053\u3068\u306b\u306a\u3063\u305f\u3082\u540c\u7136\u3067\u3042\u308b\u3002\u4eca\u56de\u306e\u50b5\u52d9\u4e0a\u9650\u554f\u984c\u3067\u5171\u548c\u515a\u5074\u306e\u4e00\u756a\u306e\u5f37\u786c\u6d3e\uff08\u306b\u898b\u305b\u304b\u3051\u3066\u3044\u305f\uff09\u304c\u3001\u5927\u7d71\u9818\u6642\u4ee3\u306b\u8ca1\u653f\u8d64\u5b57\u3092\u5927\u3044\u306b\u5897\u3084\u3057\u305f\u30c8\u30e9\u30f3\u30d7\u6c0f\u3060\u3063\u305f\u306e\u3060\u304b\u3089\u9a5a\u304d\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u305d\u3053\u307e\u3067\u306f\u60f3\u5b9a\u5185\u3060\u304b\u3089\u826f\u3044\u306e\u3060\u304c\u3001\u554f\u984c\u306f\u3053\u308c\u304b\u3089\u3069\u3046\u306a\u308b\u304b\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u4e0a\u9650\u64a4\u5ec3\u5f8c\u306e\u56fd\u50b5\u767a\u884c\u3068\u8ca1\u653f\u8d64\u5b57<\/strong><\/p>\n\n\n\n<p>\u307e\u305a\u3001\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u306f\u4eca\u307b\u3068\u3093\u3069\u73fe\u91d1\u304c\u306a\u3044\u3002\u50b5\u52d9\u4e0a\u9650\u304c\u64a4\u5ec3\u3055\u308c\u308b\u307e\u3067\u65b0\u305f\u306a\u56fd\u50b5\u3092\u767a\u884c\u3067\u304d\u306a\u304b\u3063\u305f\u304b\u3089\u3067\u3042\u308b\u3002\u3060\u304b\u3089\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u306f\u3053\u308c\u304b\u3089\u56fd\u50b5\u3092\u767a\u884c\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4eca\u5e74\u3053\u308c\u304b\u3089\u767a\u884c\u3055\u308c\u308b\u7c73\u56fd\u50b5\u306e\u7dcf\u984d\u306f\u3001\u30c9\u30a4\u30c4\u9280\u884c\u304c1.3\u5146\u30c9\u30eb\u3068\u63a8\u5b9a\u3057\u3066\u3044\u308b\u3002\u30a2\u30e1\u30ea\u30ab\u306eGDP\u306f26\u5146\u30c9\u30eb\u306a\u306e\u3067\u3001\u3053\u306e\u6570\u5b57\u306fGDP\u306e5%\u306b\u76f8\u5f53\u3059\u308b\u304b\u306a\u308a\u5927\u304d\u306a\u91d1\u984d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u6ce8\u610f\u3057\u305f\u3044\u306e\u306f\u3001\u65b0\u305f\u306a\u56fd\u50b5\u767a\u884c\u306f\u76f4\u3061\u306b\u65b0\u305f\u306a\u8ca1\u653f\u8d64\u5b57\u62e1\u5927\u3068\u3044\u3046\u3053\u3068\u3067\u306f\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u4eca1.3\u5146\u30c9\u30eb\u3092\u8abf\u9054\u3057\u305f\u304b\u3089\u3068\u3044\u3063\u3066\u3001\u5fc5\u305a\u3057\u3082\u4eca\u5e74\u3059\u3079\u3066\u4f7f\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u308f\u3051\u3067\u306f\u306a\u3044\u3057\u3001\u305d\u308c\u304c1.3\u5146\u30c9\u30eb\u306e\u65b0\u305f\u306a\u652f\u51fa\u3092\u610f\u5473\u3059\u308b\u308f\u3051\u3067\u3082\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u307e\u305a1.3\u5146\u30c9\u30eb\u3068\u3044\u3046\u56fd\u50b5\u767a\u884c\u984d\u3092\u4eca\u5e74\u3053\u308c\u304b\u3089\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u4e88\u5b9a\u984d\u3068\u6bd4\u3079\u3066\u307f\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>2023\u5e74\u306e\u8ca1\u653f\u8d64\u5b57<\/strong><\/p>\n\n\n\n<p>\u307e\u305a\u3001\u7c73\u56fd\u8b70\u4f1a\u4e88\u7b97\u5c40\u304c\u50b5\u52d9\u4e0a\u9650\u306e\u5408\u610f\u5f8c\u306b\u767a\u8868\u3057\u305f\u63a8\u8a08\u306b\u3088\u308b\u3068\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u4eca\u5e74\u306e\u8ca1\u653f\u8d64\u5b57\u306f1.5\u5146\u30c9\u30eb\u7a0b\u5ea6\u306b\u306a\u308b\u3068\u3055\u308c\u3066\u3044\u308b\u3002\u3053\u308c\u304c\u3069\u306e\u7a0b\u5ea6\u304b\u306f\u3001\u3053\u308c\u307e\u3067\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u30b0\u30e9\u30d5\u3092\u898b\u308c\u3070\u5206\u304b\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-budget-deficit-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"482\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-budget-deficit-chart.png\" alt=\"\" class=\"wp-image-37749\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-budget-deficit-chart.png 482w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-budget-deficit-chart-300x290.png 300w\" sizes=\"auto, (max-width: 482px) 100vw, 482px\" \/><\/a><\/figure>\n\n\n\n<p>2022\u5e74\u306e\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u304c1.4\u5146\u30c9\u30eb\u306a\u306e\u3067\u3001\u4eca\u5e74\u306e\u8ca1\u653f\u8d64\u5b57\u306f\u305d\u308c\u3068\u307b\u307c\u540c\u3058\u6c34\u6e96\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u8ca1\u653f\u8d64\u5b57\u306f5\u6708\u307e\u3067\u306e\u30c7\u30fc\u30bf\u304c\u51fa\u3066\u3044\u308b\u304c\u3001\u305d\u308c\u3092\u5408\u8a08\u3059\u308b\u3068\u4eca\u5e74\u30a2\u30e1\u30ea\u30ab\u306f5\u6708\u307e\u3067\u306b0.7\u5146\u30c9\u30eb\u306e\u8ca1\u653f\u8d64\u5b57\u3092\u51fa\u3057\u3066\u3044\u308b\u306e\u3067\u30016\u6708\u304b\u308912\u6708\u307e\u3067\u3067\u30a2\u30e1\u30ea\u30ab\u306f0.8\u5146\u30c9\u30eb\u306e\u8d64\u5b57\u3092\u4f5c\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u7c73\u56fd\u50b5\u30921.3\u5146\u30c9\u30eb\u767a\u884c\u3057\u3066\u8abf\u9054\u3059\u308b\u8cc7\u91d1\u306e\u3046\u3061\u30010.8\u5146\u30c9\u30eb\u306f\u4eca\u5e74\u4e88\u5b9a\u3055\u308c\u3066\u3044\u308b\u4e88\u7b97\u306b\u8cbb\u3084\u3055\u308c\u3001\u6b8b\u308a\u306e0.5\u5146\u30c9\u30eb\u306f\u305d\u308c\u4ee5\u5916\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u306e0.5\u5146\u30c9\u30eb\u306f\u65b0\u305f\u306b\u8a2d\u5b9a\u3055\u308c\u308b\u4e88\u7b97\u306b\u4f7f\u308f\u308c\u308b\u304b\u3001\u8ca1\u52d9\u7701\u306e\u53e3\u5ea7\u306b\u6b8b\u7559\u3059\u308b\u304b\u306e\u3069\u3061\u3089\u304b\u3067\u3042\u308b\u3002\u4e0b\u9662\u3092\u6291\u3048\u3066\u3044\u308b\u5171\u548c\u515a\u306f\u3001\u53e3\u3067\u306f\u7dca\u7e2e\u3092\u5531\u3048\u306a\u304c\u3089\u30d0\u30a4\u30c7\u30f3\u653f\u6a29\u306b\u5927\u91cf\u306e\u3070\u3089\u6492\u304d\u3092\u8a31\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u307e\u308a\u4fe1\u7528\u3067\u304d\u306a\u3044\u306e\u3060\u304c\u3001\u6765\u5e74\u306e\u5927\u7d71\u9818\u9078\u6319\u306b\u5411\u3051\u3066\u30d0\u30a4\u30c7\u30f3\u6c0f\u306b\u66f4\u306a\u308b\u3070\u3089\u6492\u304d\u3092\u8a31\u3059\u3068\u3082\u601d\u3048\u306a\u3044\u306e\u3067\u3001\u8ca1\u52d9\u7701\u306e\u53e3\u5ea7\u306b\u6b8b\u308b\u3068\u3068\u308a\u3042\u3048\u305a\u8003\u3048\u3066\u826f\u3044\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u307e\u3067\u306e\u8ca1\u52d9\u7701\u306e\u53e3\u5ea7\u6b8b\u9ad8\u306e\u63a8\u79fb\u3092\u898b\u308b\u3068\u30010.5\u5146\u30c9\u30eb\u306f2022\u5e74\u306e\u6b8b\u9ad8\u63a8\u79fb\u306e\u5e73\u5747\u306b\u307b\u307c\u8fd1\u3044\u306e\u3067\u3001\u305d\u306e\u610f\u5473\u3067\u3082\u305d\u3046\u8003\u3048\u308b\u306e\u304c\u59a5\u5f53\u305d\u3046\u3060\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-21-us-treasury-general-account-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"482\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-21-us-treasury-general-account-chart.png\" alt=\"\" class=\"wp-image-37753\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-21-us-treasury-general-account-chart.png 482w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2023-6-21-us-treasury-general-account-chart-300x290.png 300w\" sizes=\"auto, (max-width: 482px) 100vw, 482px\" \/><\/a><\/figure>\n\n\n\n<p><strong>\u56fd\u50b5\u767a\u884c\u306e\u554f\u984c<\/strong><\/p>\n\n\n\n<p>\u3055\u3066\u3001\u305d\u3082\u305d\u3082\u56fd\u50b5\u306e\u5927\u91cf\u767a\u884c\u304c\u4f55\u6545\u554f\u984c\u306a\u306e\u304b\uff1f\u3000\u6301\u3061\u4e0a\u304c\u3063\u3066\u3044\u308b\u554f\u984c\u306f2\u3064\u3042\u308b\u30021\u3064\u306f\u3001\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u306e\u61f8\u5ff5\u3057\u3066\u3044\u308b\u3088\u3046\u306b\u65b0\u305f\u306b\u767a\u884c\u3055\u308c\u308b\u56fd\u50b5\u3092\u56fd\u50b5\u5e02\u5834\u304c\u53d7\u3051\u6b62\u3081\u304d\u308c\u306a\u3044\u53ef\u80fd\u6027\u3067\u3042\u308b\u3002\u30c0\u30ea\u30aa\u6c0f\u306f\u3053\u3046\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37702\" data-type=\"post\" data-id=\"37702\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u30a2\u30e1\u30ea\u30ab\u306e\u50b5\u52d9\u5371\u6a5f\u306f\u7d42\u308f\u3063\u3066\u3044\u306a\u3044<\/a><\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u3053\u308c\u304b\u3089\u30a2\u30e1\u30ea\u30ab\u306f\u5927\u91cf\u306e\u56fd\u50b5\u3092\u767a\u884c\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u304c\u3001\u591a\u304f\u306e\u56fd\u50b5\u4fdd\u6709\u8005\u306f\u65e2\u306b\u7c73\u56fd\u50b5\u3092\u5927\u91cf\u306b\u4fdd\u6709\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u4e8b\u5b9f\u3001\u73fe\u5728\u306e\u9280\u884c\u306a\u3069\u306e\u4e3b\u306a\u554f\u984c\u306f\u3001\u4e0b\u843d\u3057\u3066\u3044\u308b\u7c73\u56fd\u50b5\u3092\u6301\u3061\u3059\u304e\u3066\u3044\u308b\u3053\u3068\u3060\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306f\u4fdd\u6709\u3057\u3066\u3044\u305f\u7c73\u56fd\u50b5\u306e\u4fa1\u683c\u304c\u5229\u4e0a\u3052\u3067\u4e0b\u843d\u3057\u305f\u3053\u3068\u304c\u4e00\u56e0\u3067\u7834\u7dbb\u3057\u305f\u3002\u7c73\u56fd\u50b5\u306e\u4fdd\u6709\u8005\u304c\u65b0\u305f\u306b\u767a\u884c\u3055\u308c\u308b\u56fd\u50b5\u3092\u8cb7\u3044\u305f\u304f\u306a\u3044\u3068\u8003\u3048\u305f\u5834\u5408\u3001\u56fd\u50b5\u306e\u4fa1\u683c\u304c\u4e0b\u843d\u3057\u91d1\u5229\u304c\u9ad8\u9a30\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u4e0a\u8a18\u306e\u8a18\u4e8b\u3067\u8ff0\u3079\u305f\u3088\u3046\u306b\u3001\u65b0\u898f\u306b\u767a\u884c\u3055\u308c\u308b\u56fd\u50b5\u3092\u5e02\u5834\u304c\u3059\u3079\u3066\u53d7\u3051\u6b62\u3081\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u308f\u3051\u3067\u306f\u306a\u3044\u3002\u4f8b\u3048\u3070\u767a\u884c\u3055\u308c\u305f\u56fd\u50b5\u3092\u9280\u884c\u304c\u8cb7\u3044\u3001\u653f\u5e9c\u304c\u624b\u306b\u5165\u308c\u305f\u8cc7\u91d1\u3067\u516c\u5171\u4e8b\u696d\u3092\u884c\u306a\u3063\u3066\u3001\u4e8b\u696d\u8005\u304c\u653f\u5e9c\u304b\u3089\u652f\u6255\u3044\u3092\u53d7\u3051\u305f\u5834\u5408\u3001\u4e8b\u696d\u8005\u306f\u81ea\u5206\u306e\u9280\u884c\u53e3\u5ea7\u306b\u65b0\u305f\u306b\u5275\u9020\u3055\u308c\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u624b\u306b\u3059\u308b\u308f\u3051\u3067\u3001\u305d\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u3067\u305d\u306e\u9280\u884c\u53e3\u5ea7\u3092\u7ba1\u7406\u3059\u308b\u9280\u884c\u304c\u56fd\u50b5\u3092\u8cb7\u3048\u3070\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u3068\u56fd\u50b5\u306e\u9700\u7d66\u30d0\u30e9\u30f3\u30b9\u306f\u4e00\u5207\u58ca\u308c\u306a\u3044\u3002\u56fd\u50b5\u3068\u540c\u6642\u306b\u30ad\u30e3\u30c3\u30b7\u30e5\u3082\u751f\u307f\u51fa\u3055\u308c\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u8a71\u306f\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\uff08\u5e02\u4e2d\u306b\u5b58\u5728\u3059\u308b\u73fe\u91d1\u3068\u9810\u91d1\u306e\u7dcf\u984d\uff09\u306e\u5897\u6e1b\u3068\u3044\u3046\u30de\u30af\u30ed\u7d4c\u6e08\u5b66\u306e\u3084\u3084\u8907\u96d1\u306a\u8a71\u306a\u306e\u3060\u304c\u3001\u8a71\u3092\u7c21\u7565\u5316\u3057\u3066\u8a00\u3048\u3070\u3001\u767a\u884c\u3055\u308c\u305f\u56fd\u50b5\u306e\u3046\u3061\u653f\u5e9c\u304c\u652f\u51fa\u306b\u4f7f\u3063\u305f\u3082\u306e\u306b\u95a2\u3057\u3066\u306f\u3001\u540c\u3058\u984d\u306e\u65b0\u305f\u306a\u30ad\u30e3\u30c3\u30b7\u30e5\u304c\u6c11\u9593\u306e\u4e8b\u696d\u8005\u306e\u9280\u884c\u53e3\u5ea7\u306b\u751f\u307f\u51fa\u3055\u308c\u308b\u306e\u3067\u3001\u56fd\u50b5\u306f\u305d\u306e\u65b0\u305f\u306a\u30ad\u30e3\u30c3\u30b7\u30e5\u304c\u53d7\u3051\u6b62\u3081\u308b\u3053\u3068\u306b\u306a\u308a\u3001\u56fd\u50b5\u306e\u9700\u7d66\u30d0\u30e9\u30f3\u30b9\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u306a\u3044\u3068\u8a00\u3063\u3066\u826f\u3044\u3002\uff08\u7d30\u90e8\u3092\u304b\u306a\u308a\u7aef\u6298\u3063\u3066\u3044\u308b\u306e\u3067\u6ce8\u610f\u3055\u308c\u305f\u3044\u3002\u7d30\u304b\u304f\u8003\u3048\u305f\u3044\u4eba\u306f\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u3092\u81ea\u5206\u3067\u52c9\u5f37\u3059\u308b\u3053\u3068\u3002\uff09<\/p>\n\n\n\n<p>\u3060\u304b\u30891.3\u5146\u30c9\u30eb\u306e\u65b0\u898f\u767a\u884c\u306e\u3046\u3061\u3001\u56fd\u50b5\u5e02\u5834\u306b\u5fc5\u305a\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u306e\u306f\u4eca\u5e74\u306e\u5185\u306b\u4f7f\u7528\u3055\u308c\u306a\u30440.5\u5146\u30c9\u30eb\u306e\u65b9\u3067\u3042\u308b\u3002\u307e\u305f\u3001\u30c0\u30ea\u30aa\u6c0f\u306f\u56fd\u50b5\u306e\u4fa1\u683c\u4e0b\u843d\u3092\u6c17\u306b\u3057\u3066\u3044\u308b\u304c\u3001\u4eee\u306b\u8d77\u304d\u308b\u3068\u3059\u308c\u3070\u56fd\u50b5\u306e\u4e0b\u843d\u3067\u306f\u306a\u304f\u30012018\u5e74\u306e\u91cf\u7684\u5f15\u304d\u7de0\u3081\u306e\u52b9\u679c\u3068\u540c\u3058\u3088\u3046\u306b\u56fd\u50b5\u3088\u308a\u3082\u682a\u5f0f\u3084\u30b8\u30e3\u30f3\u30af\u50b5\u306a\u3069\u306e\u30ea\u30b9\u30af\u8cc7\u7523\u304c\u72a0\u7272\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/7959\" data-type=\"post\" data-id=\"7959\">\u4e16\u754c\u540c\u6642\u682a\u5b89\u3092\u4e88\u60f3\u3067\u304d\u305f\u7406\u7531\u3068\u682a\u4fa1\u4e0b\u843d\u306e\u539f\u56e0 (2018\/10\/18)<\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306f\u3069\u3046\u306a\u308b\u304b<\/strong><\/p>\n\n\n\n<p>\u3057\u304b\u3057\u7b46\u8005\u304c\u305d\u308c\u3088\u308a\u3082\u91cd\u8981\u3068\u8003\u3048\u308b\u306e\u306f\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306e\u5897\u6e1b\u3067\u3042\u308b\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u30b3\u30ed\u30ca\u5f8c\u306e\u73fe\u91d1\u7d66\u4ed8\u306b\u3088\u3063\u3066\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u304c\u6025\u5897\u3057\u305f\u3053\u3068\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u539f\u56e0\u3067\u3042\u308a\u3001\u73fe\u5728\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u3088\u3063\u3066\u6025\u6e1b\u3057\u3066\u3044\u308b\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306e\u30c8\u30ec\u30f3\u30c9\u304c\u3001\u56fd\u50b5\u767a\u884c\u306b\u3088\u3063\u3066\u3069\u3046\u306a\u308b\u304b\u3092\u8003\u3048\u308b\u5fc5\u8981\u304c\u3042\u308b\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u3092\u5897\u52a0\u3055\u305b\u308b\u306e\u306f\u3001\u4e0a\u8ff0\u3057\u305f\u3088\u3046\u306b\u56fd\u50b5\u767a\u884c\u3067\u306f\u306a\u304f\u8ca1\u653f\u8d64\u5b57\u3067\u3042\u308b\u3002\u8ca1\u653f\u8d64\u5b57\u3068\u306f\u6c11\u9593\u306e\u9280\u884c\u53e3\u5ea7\u306b\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u62bc\u3057\u8fbc\u3080\u3053\u3068\u3060\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u4e0a\u8ff0\u306e\u3088\u3046\u306b\u3001\u30a2\u30e1\u30ea\u30ab\u653f\u5e9c\u306f\u50b5\u52d9\u4e0a\u9650\u304c\u3042\u308a\u306a\u304c\u3089\u3082\u4eca\u5e74\u5206\u306e\u652f\u51fa\u306f\u3057\u3063\u304b\u308a\u884c\u306a\u3063\u3066\u3044\u308b\u30025\u6708\u307e\u3067\u306e\u5408\u8a08\u30670.7\u5146\u30c9\u30eb\u3067\u3042\u308a\u3001\u4eca\u5e74\u306e\u4e88\u5b9a\u3067\u3042\u308b1.5\u5146\u30c9\u30eb\u306e\u307b\u307c\u534a\u5206\u3092\u6d88\u5316\u6e08\u307f\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u6b8b\u308a\u306f0.8\u5146\u30c9\u30eb\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b\u3002\u5e74\u3005\u60aa\u5316\u3057\u3066\u3044\u308b\u30a2\u30e1\u30ea\u30ab\u306e\u8ca1\u653f\u8d64\u5b57\u3092\u8003\u3048\u308b\u3068\u3001\u8b70\u4f1a\u4e88\u7b97\u5c40\u306e2024\u5e74\u306e\u8d64\u5b57\u4e88\u60f3\u3067\u3042\u308b1.6\u5146\u30c9\u30eb\u306f\u672c\u5f53\u306b\u305d\u308c\u3067\u53ce\u307e\u308b\u306e\u304b\u5371\u3046\u3044\u304c\u3001\u3068\u308a\u3042\u3048\u305a\u3042\u3068\u534a\u5e74\u306f\u305d\u308c\u307b\u3069\u7570\u5e38\u3067\u306f\u306a\u3044\u8ca1\u653f\u8d64\u5b57\u306e\u984d\uff08\u53bb\u5e74\u306e1.4\u5146\u30c9\u30eb\u3092\u7570\u5e38\u3067\u306a\u3044\u3068\u3059\u308c\u3070\uff09\u306b\u53ce\u307e\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u306f\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u3088\u3063\u3066\u3001\u30a4\u30f3\u30d5\u30ec\u3092\u5dee\u3057\u5f15\u3044\u305f\u5b9f\u8cea\u5024\u3067\u6025\u6fc0\u306b\u6e1b\u5c11\u3057\u3066\u3044\u308b\u3002\u4eca\u5e745\u6708\u307e\u3067\u300c\u901a\u5e38\u300d\u306e\u30da\u30fc\u30b9\u3067\u8ca1\u653f\u8d64\u5b57\u3092\u62e1\u5927\u3057\u306a\u304c\u3089\u3082\u30de\u30cd\u30fc\u30b5\u30d7\u30e9\u30a4\u304c\u4e0b\u304c\u3063\u3066\u3044\u308b\u3053\u3068\u3092\u8003\u3048\u308c\u3070\u3001\u3053\u308c\u304b\u3089\u5e74\u672b\u307e\u3067\u306e\u8ca1\u653f\u8d64\u5b57\u306e\u62e1\u5927\u304c\u3053\u306e\u4e0b\u843d\u3092\u6b62\u3081\u308b\u3053\u3068\u306f\u6050\u3089\u304f\u306a\u3044\u3060\u308d\u3046\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-apr-us-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-apr-us-m2-money-stock-chart.png\" alt=\"\" class=\"wp-image-37129\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-m2-money-stock-chart.png 448w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/05\/2023-apr-us-m2-money-stock-chart-288x300.png 288w\" sizes=\"auto, (max-width: 448px) 100vw, 448px\" \/><\/a><\/figure>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u3084\u306f\u308a\u30a4\u30f3\u30d5\u30ec\u306f\u50b5\u5238\u6295\u8cc7\u5bb6\u30b8\u30a7\u30d5\u30ea\u30fc\u30fb\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f\u306e\u8a00\u3046\u3088\u3046\u306b\u4e0b\u843d\u65b9\u5411\u306b\u884c\u304f\u3068\u306e\u898b\u65b9\u3092\u7b46\u8005\u3082\u78ba\u8a8d\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37597\" data-type=\"post\" data-id=\"37597\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306f\u5229\u4e0b\u3052\u3059\u308b\u3001\u3057\u306a\u3051\u308c\u3070\u5b9f\u4f53\u7d4c\u6e08\u306e\u4f55\u304b\u304c\u58ca\u308c\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u539f\u6cb9\u306a\u3069\u306e\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u4fa1\u683c\u3082\u4eca\u5f8c\u306e\u30a4\u30f3\u30d5\u30ec\u6b21\u7b2c\u3060\u304c\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u66f4\u306b\u4e0b\u304c\u308b\u306e\u3067\u3042\u308c\u3070\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u4fa1\u683c\u3082\u6050\u3089\u304f\u305d\u3046\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37654\" data-type=\"post\" data-id=\"37654\">\u30ac\u30f3\u30c9\u30e9\u30c3\u30af\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306f\u30c7\u30d5\u30ec\u306b\u306a\u308a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u4fa1\u683c\u306f\u4e0b\u843d\u3059\u308b<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u50b5\u52d9\u4e0a\u9650\u554f\u984c\u304c\u89e3\u6c7a\u3055\u308c\u3001\u3053\u308c\u307e\u3067\u6ede\u3063\u3066\u3044\u305f\u7c73\u56fd\u50b5\u306e\u767a\u884c\u304c\u518d\u958b\u3055\u308c\u308b\u3088\u3046\u306b\u306a\u3063\u305f\u3002\u3060\u304c\u767a\u884c\u3055\u308c\u308b\u56fd\u50b5\u306e\u91cf\u304c\u5927\u91cf\u3060\u3068\u3044\u3046\u3053\u3068\u304c\u5e02\u5834\u3067\u8a71\u984c\u306b\u306a\u3063\u3066\u3044\u308b\u3002 \u30c9\u30a4\u30c4\u9280\u884c\u306e\u63a8\u8a08\u3067\u306f\u305d\u306e\u7dcf\u984d\u306f1.3\u5146\u30c9\u30eb\u306b\u53ca\u3076\u53ef\u80fd\u6027\u304c\u3042\u308b &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/37730\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">1.3\u5146\u30c9\u30eb\u306e\u7c73\u56fd\u50b5\u767a\u884c\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u5229\u3092\u9ad8\u9a30\u3055\u305b\u308b\u304b\uff1f<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[118,108],"tags":[],"class_list":["post-37730","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/37730","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=37730"}],"version-history":[{"count":65,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/37730\/revisions"}],"predecessor-version":[{"id":37799,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/37730\/revisions\/37799"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=37730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=37730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=37730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}