{"id":38616,"date":"2023-08-04T20:00:00","date_gmt":"2023-08-04T11:00:00","guid":{"rendered":"https:\/\/www.globalmacroresearch.org\/jp\/?p=38616"},"modified":"2023-08-16T17:45:55","modified_gmt":"2023-08-16T08:45:55","slug":"%e4%b8%96%e7%95%8c%e6%9c%80%e5%a4%a7%e3%81%ae%e3%83%98%e3%83%83%e3%82%b8%e3%83%95%e3%82%a1%e3%83%b3%e3%83%89%e3%80%81%e9%87%8f%e7%9a%84%e7%b7%a9%e5%92%8c%e3%81%a8%e7%8f%be%e9%87%91%e7%b5%a6%e4%bb%98","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/38616","title":{"rendered":"\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u91cf\u7684\u7de9\u548c\u3068\u73fe\u91d1\u7d66\u4ed8\u306b\u7d9a\u304f\u65b0\u305f\u306a\u91d1\u878d\u7de9\u548c\u3092\u8a9e\u308b"},"content":{"rendered":"\n<p>\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9Bridgewater\u5275\u696d\u8005\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304cLinkedIn\u306e\u30d6\u30ed\u30b0\u3067\u3001\u4e16\u754c\u7684\u306a\u7269\u4fa1\u9ad8\u9a30\u3092\u3082\u305f\u3089\u3057\u305f\u73fe\u91d1\u7d66\u4ed8\u306b\u7d9a\u304f\u65b0\u305f\u306a\u91d1\u878d\u7de9\u548c\u306e\u65b9\u6cd5\u306b\u3064\u3044\u3066\u8a9e\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<!--more-->\n\n\n\n<p><strong>\u904e\u53bb40\u5e74\u306e\u91d1\u878d\u7de9\u548c<\/strong><\/p>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u3067\u306f1970\u5e74\u4ee3\u306e\u7269\u4fa1\u9ad8\u9a30\u304c\u7d42\u308f\u3063\u3066\u4ee5\u6765\u3001\u91d1\u878d\u5e02\u5834\u306e\u6b74\u53f2\u306f\u91d1\u878d\u7de9\u548c\u306e\u6b74\u53f2\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>1970\u5e74\u4ee3\u306e\u7269\u4fa1\u9ad8\u9a30\u3092\u6b62\u3081\u308b\u305f\u3081\u306b20%\u4ee5\u4e0a\u306b\u4e0a\u304c\u3063\u305f\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u7b56\u91d1\u5229\u306f\u3001\u305d\u306e\u5f8c30\u5e74\u8fd1\u304f\u304b\u3051\u3066\u4f4e\u4e0b\u3057\u3066\u304d\u305f\u3002\u4ee5\u4e0b\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u7b56\u91d1\u5229\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\/08\/2023-8-4-federal-funds-rate-long-term-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"538\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/08\/2023-8-4-federal-funds-rate-long-term-chart.png\" alt=\"\" class=\"wp-image-38618\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/08\/2023-8-4-federal-funds-rate-long-term-chart.png 538w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/08\/2023-8-4-federal-funds-rate-long-term-chart-300x260.png 300w\" sizes=\"auto, (max-width: 538px) 100vw, 538px\" \/><\/a><\/figure>\n\n\n\n<p>\u4e2d\u592e\u9280\u884c\u306f\u7d4c\u6e08\u304c\u5f31\u308b\u305f\u3073\u306b\u5229\u4e0b\u3052\u3092\u884c\u3044\u3001\u91d1\u878d\u7de9\u548c\u306b\u3088\u3063\u3066\u5b9f\u4f53\u7d4c\u6e08\u3092\u652f\u3048\u3066\u304d\u305f\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u305d\u306e\u91d1\u5229\u306f2008\u5e74\u306e\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3067\u3064\u3044\u306b\u30bc\u30ed\u306b\u5230\u9054\u3059\u308b\u3002\u4e2d\u592e\u9280\u884c\u306f\u3053\u308c\u4ee5\u4e0a\u91d1\u5229\u3092\u4e0b\u3052\u3089\u308c\u306a\u304f\u306a\u3063\u305f\u304c\u3001\u305d\u308c\u3067\u3082\u7de9\u548c\u3092\u3059\u308b\u65b9\u6cd5\u304c\u6b32\u3057\u304b\u3063\u305f\u306e\u3067\u3001\u7d19\u5e63\u3092\u5370\u5237\u3057\u3066\u91d1\u878d\u5e02\u5834\u304b\u3089\u56fd\u50b5\u306a\u3069\u306e\u8a3c\u5238\u3092\u8cb7\u3044\u5165\u308c\u308b\u91cf\u7684\u7de9\u548c\u3068\u3044\u3046\u65b9\u6cd5\u306b\u983c\u308b\u3053\u3068\u306b\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u653f\u7b56\u91d1\u5229\u3092\u64cd\u4f5c\u3059\u308b\u65b9\u6cd5\u3067\u306f\u56fd\u50b5\u306e\u91d1\u5229\u3092\u76f4\u63a5\u4e0b\u3052\u308b\u3053\u3068\u306f\u3067\u304d\u306a\u3044\u304c\u3001\u7d19\u5e63\u5370\u5237\u3067\u4e2d\u592e\u9280\u884c\u304c\u6709\u4fa1\u8a3c\u5238\u3092\u8cb7\u3044\u4e0a\u3052\u3066\u3057\u307e\u3048\u3070\u3001\u8cc7\u7523\u4fa1\u683c\u3092\u4eba\u5de5\u7684\u306b\u62bc\u3057\u4e0a\u3052\u3001\u56fd\u50b5\u306e\u91d1\u5229\u3092\u62bc\u3057\u4e0b\u3052\u308b\u3053\u3068\u3067\u66f4\u306a\u308b\u7de9\u548c\u3092\u884c\u3046\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u3053\u306e\u65b9\u6cd5\u3067\u306f\u5b9f\u4f53\u7d4c\u6e08\u3092\u30b3\u30ed\u30ca\u5371\u6a5f\u304b\u3089\u6551\u3046\u3053\u3068\u306f\u51fa\u6765\u306a\u304b\u3063\u305f\u3002\u65e5\u672c\u3067\u5b9f\u969b\u306b\u305d\u3046\u306a\u3063\u3066\u3044\u308b\u3088\u3046\u306b\u3001\u8cc7\u7523\u4fa1\u683c\u3092\u4e0a\u3052\u3066\u3082\u5f97\u3092\u3059\u308b\u306e\u306f\u8cc7\u7523\u3092\u6301\u3063\u3066\u3044\u308b\u4eba\u3005\u3060\u3051\u3060\u3068\u3044\u3046\u5f53\u305f\u308a\u524d\u306e\u4e8b\u5b9f\u306b\u3001\u30a2\u30e1\u30ea\u30ab\u3082\u76f4\u9762\u305b\u3056\u308b\u3092\u5f97\u306a\u304f\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u3053\u3067\u8003\u6848\u3055\u308c\u305f\u306e\u304c\u3001\u56fd\u6c11\u306e\u9280\u884c\u53e3\u5ea7\u306b\u76f4\u63a5\u73fe\u91d1\u3092\u6ce8\u304e\u8fbc\u3080\u65b9\u6cd5\u3067\u3042\u308b\u3002\u73fe\u91d1\u7d66\u4ed8\u3068\u547c\u3070\u308c\u308b\u3053\u306e\u65b9\u6cd5\u306f\u3001\u5bb6\u8a08\u306e\u8ca1\u653f\u72b6\u6cc1\u3092\u898b\u305f\u76ee\u4e0a\u6539\u5584\u3057\u305f\u4e00\u65b9\u3067\u3001\u4e16\u754c\u7684\u306a\u7269\u4fa1\u9ad8\u9a30\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\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>\u3053\u306e\u3088\u3046\u306b\u7de9\u548c\u306e\u6b74\u53f2\u3092\u632f\u308a\u8fd4\u3063\u3066\u307f\u308b\u3068\u3001\u660e\u3089\u304b\u306b\u8a00\u3048\u308b\u3053\u3068\u306f\u3001\u7de9\u548c\u306e\u526f\u4f5c\u7528\u304c\u5f37\u304f\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u5229\u4e0b\u3052\u306e\u526f\u4f5c\u7528\u306f\u30012000\u5e74\u306b\u30c9\u30c3\u30c8\u30b3\u30e0\u30d0\u30d6\u30eb\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u308a\u30012008\u5e74\u306e\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u306b\u3064\u306a\u304c\u308b\u4f4f\u5b85\u30d0\u30d6\u30eb\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u308a\u3059\u308b\u3053\u3068\u3060\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u305d\u308c\u3060\u3051\u3082\u9177\u304b\u3063\u305f\u304b\u3082\u3057\u308c\u306a\u3044\u304c\u3001\u5229\u4e0b\u3052\u304c\u91cf\u7684\u7de9\u548c\u306b\u306a\u308a\u3001\u91cf\u7684\u7de9\u548c\u304c\u73fe\u91d1\u7d66\u4ed8\u306b\u306a\u3063\u305f\u4eca\u3001\u7de9\u548c\u306e\u526f\u4f5c\u7528\u306f\u96ea\u3060\u308b\u307e\u5f0f\u306b\u81a8\u3089\u307f\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u3044\u3046\u5f62\u3067\u5168\u56fd\u6c11\u306b\u964d\u308a\u639b\u304b\u3063\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3060\u304c\u7de9\u548c\u306e\u6975\u7aef\u5316\u3068\u3044\u3046\u3053\u306e\u30c8\u30ec\u30f3\u30c9\u306f\u3001\u3082\u306f\u3084\u8ab0\u306b\u3082\u6b62\u3081\u3089\u308c\u306a\u3044\u3060\u308d\u3046\u3002\u4eba\u9593\u306b\u305d\u308c\u3092\u6b62\u3081\u308b\u982d\u304c\u3042\u308c\u3070\u3001\u305d\u3082\u305d\u3082\u30a4\u30f3\u30d5\u30ec\u306f\u8d77\u304d\u3066\u3044\u306a\u3044\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/11992\" data-type=\"post\" data-id=\"11992\">\u30cf\u30a4\u30a8\u30af: \u30a4\u30f3\u30d5\u30ec\u4e3b\u7fa9\u306f\u975e\u79d1\u5b66\u7684\u8ff7\u4fe1<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/35564\" data-type=\"post\" data-id=\"35564\">\u30cf\u30a4\u30a8\u30af\u6c0f: \u73fe\u91d1\u7d66\u4ed8\u3084\u88dc\u52a9\u91d1\u306f\u305d\u308c\u3092\u53d7\u3051\u306a\u3044\u4eba\u306b\u5bfe\u3059\u308b\u7a83\u76d7\u3067\u3042\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u3060\u304b\u3089\u6295\u8cc7\u5bb6\u306f\u73fe\u91d1\u7d66\u4ed8\u306b\u7d9a\u304f\u65b0\u305f\u306a\u7de9\u548c\u65b9\u6cd5\u304c\u4f55\u304b\u3068\u3044\u3046\u3053\u3068\u3092\u3001\u305d\u308d\u305d\u308d\u8003\u3048\u59cb\u3081\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u4e2d\u592e\u9280\u884c\u306f\u307e\u305a\u5229\u4e0b\u3052\u306b\u3088\u3063\u3066\u91d1\u5229\u3092\u4f4e\u4e0b\u3055\u305b\u3001\u7d4c\u6e08\u306b\u304a\u3051\u308b\u6700\u5927\u306e\u50b5\u52d9\u8005\u3001\u3064\u307e\u308a\u653f\u5e9c\u3092\u6551\u6e08\u3057\u7d9a\u3051\u3066\u304d\u305f\u3002\u305d\u306e\u6b21\u306b\u306f\u91cf\u7684\u7de9\u548c\u306b\u3088\u3063\u3066\u3001\u91d1\u878d\u5371\u6a5f\u3067\u8cc7\u7523\u3092\u5931\u3063\u305f\u8cc7\u7523\u5bb6\u3092\u6551\u6e08\u3057\u305f\u3002\u30b3\u30ed\u30ca\u798d\u306b\u304a\u3051\u308b\u306f\u30ed\u30c3\u30af\u30c0\u30a6\u30f3\u3067\u53ce\u5165\u3092\u5931\u3063\u305f\u5bb6\u8a08\u3092\u6551\u6e08\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3082\u3046\u6551\u6e08\u3059\u308b\u3082\u306e\u306f\u3042\u30681\u3064\u3057\u304b\u6b8b\u3063\u3066\u3044\u306a\u3044\u3002\u4e2d\u592e\u9280\u884c\u306b\u3088\u308b\u4e2d\u592e\u9280\u884c\u306e\u6551\u6e08\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p><strong>\u4e2d\u592e\u9280\u884c\u304c\u81ea\u5206\u81ea\u8eab\u3092\u6551\u6e08\u3059\u308b<\/strong><\/p>\n\n\n\n<p>\u653f\u5e9c\u304c\u56fd\u50b5\u3092\u4e2d\u592e\u9280\u884c\u306b\u62bc\u3057\u4ed8\u3051\u3001\u4e2d\u592e\u9280\u884c\u306f\u30b7\u30ea\u30b3\u30f3\u30d0\u30ec\u30fc\u9280\u884c\u306a\u3069\u306e\u7834\u7dbb\u51e6\u7406\u306b\u3042\u305f\u3063\u3066\u4fa1\u683c\u304c\u4e0b\u843d\u3057\u3066\u3044\u305f\u50b5\u5238\u3092\u984d\u9762\u3067\u5f15\u304d\u53d7\u3051\u3066\u3044\u308b\u306e\u3067\u3001\u3082\u306f\u3084\u4e2d\u592e\u9280\u884c\u306f\u3055\u306a\u304c\u3089\u30b4\u30df\u7bb1\u306e\u3088\u3046\u306a\u69d8\u76f8\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u653f\u5e9c\u306f\u3053\u306e\u307e\u307e\u4e2d\u592e\u9280\u884c\u3092\u30b4\u30df\u7bb1\u306e\u3088\u3046\u306b\u6271\u3044\u7d9a\u3051\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u306e\u304b\uff1f\u3000\u73fe\u4ee3\u4eba\u306f\u8ab0\u3082\u305d\u306e\u5b9f\u9a13\u3092\u7d4c\u9a13\u3057\u305f\u3053\u3068\u306f\u306a\u3044\u304c\u3001\u6b74\u53f2\u4e0a\u306b\u306f\u540c\u3058\u3088\u3046\u306a\u4e8b\u4f8b\u306f\u5b58\u5728\u3059\u308b\u3002\u3053\u3046\u3057\u305f\u7591\u554f\u3092\u5c0b\u306d\u308b\u306e\u306b\u6700\u826f\u306e\u4eba\u7269\u306f\u3001\u3084\u306f\u308a\u30c0\u30ea\u30aa\u6c0f\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u30c0\u30ea\u30aa\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>\u9577\u671f\u7684\u306b\u306f\u3001\u6b74\u53f2\u3092\u632f\u308a\u8fd4\u3063\u3066\u3053\u308c\u304b\u3089\u4f55\u304c\u8d77\u3053\u308b\u304b\u3092\u63cf\u3044\u3066\u307f\u308b\u3068\u3001\u653f\u5e9c\u306e\u8ca1\u653f\u8d64\u5b57\u304c\u5897\u5927\u3059\u308b\u306e\u306f\u5b9f\u8cea\u7684\u306b\u78ba\u5b9f\u3067\u3001\u5229\u6255\u3044\u3084\u4ed6\u306e\u4e88\u7b97\u306e\u8cbb\u7528\u304c\u5897\u52a0\u3057\u3066\u3044\u308b\u4ee5\u4e0a\u3001\u5897\u52a0\u306e\u52a0\u901f\u5ea6\u306f\u4e0a\u304c\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306eGDP\u6bd4\u8ca1\u653f\u8d64\u5b57\u306f\u6b21\u306e\u3088\u3046\u306b\u63a8\u79fb\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart.png\"><img loading=\"lazy\" decoding=\"async\" width=\"481\" height=\"466\" src=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart.png\" alt=\"\" class=\"wp-image-37434\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart.png 481w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2023\/06\/2022-us-federal-budget-balance-to-gdp-chart-300x291.png 300w\" sizes=\"auto, (max-width: 481px) 100vw, 481px\" 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class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u305d\u3057\u3066\u305d\u3046\u306a\u308c\u3070\u3001\u653f\u5e9c\u306f\u3088\u308a\u591a\u304f\u306e\u56fd\u50b5\u3092\u767a\u884c\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308a\u3001\u81ea\u5df1\u5f37\u5316\u7684\u306a\u50b5\u52d9\u30b9\u30d1\u30a4\u30e9\u30eb\u306b\u9665\u308b\u3053\u3068\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u91d1\u878d\u5e02\u5834\u304c\u305d\u308c\u4ee5\u4e0a\u5897\u3084\u3055\u306a\u3044\u3088\u3046\u8feb\u308b\u4e00\u65b9\u3067\u3001\u4e2d\u592e\u9280\u884c\u306f\u7d19\u5e63\u5370\u5237\u306b\u3088\u3063\u3066\u3082\u3063\u3068\u591a\u304f\u306e\u56fd\u50b5\u3092\u8cb7\u308f\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u304f\u306a\u308b\u3002\u305d\u3046\u3057\u306a\u3051\u308c\u3070\u640d\u5931\u304c\u62e1\u5927\u3057\u81ea\u5206\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u304c\u6bc0\u640d\u3055\u308c\u308b\u3053\u3068\u306b\u306a\u308b\u3002<\/p>\n<\/blockquote>\n\n\n\n<p>\u300c\u91d1\u878d\u5e02\u5834\u304c\u305d\u308c\u4ee5\u4e0a\u5897\u3084\u3055\u306a\u3044\u3088\u3046\u306b\u8feb\u308b\u300d\u3068\u3044\u3046\u306e\u306f\u3001\u56fd\u50b5\u306e\u767a\u884c\u5897\u52a0\u3092\u5e02\u5834\u306e\u6295\u8cc7\u9700\u8981\u304c\u652f\u3048\u304d\u308c\u306a\u304f\u306a\u308a\u3001\u56fd\u50b5\u4fa1\u683c\u304c\u66b4\u843d\u3057\u3066\u3086\u304f\u72b6\u6cc1\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p>\u305d\u3046\u3057\u305f\u8981\u56e0\u3067\u306e\u7c73\u56fd\u50b5\u306e\u4fa1\u683c\u4e0b\u843d\u306f\u3001\u4eca\u306e\u5e02\u5834\u53c2\u52a0\u8005\u306b\u306f\u307b\u3068\u3093\u3069\u60f3\u50cf\u3082\u3067\u304d\u306a\u3044\u306f\u305a\u3060\u3002\u3060\u304c\u5c11\u3057\u524d\u306e\u5e02\u5834\u53c2\u52a0\u8005\u306b\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u3082\u60f3\u50cf\u3067\u304d\u306a\u304b\u3063\u305f\u3053\u3068\u3092\u601d\u3044\u51fa\u3057\u305f\u3044\u3002<\/p>\n\n\n\n<p>\u30c0\u30ea\u30aa\u6c0f\u306e\u8a00\u3046\u901a\u308a\u3001\u56fd\u50b5\u306e\u767a\u884c\u304c\u6307\u6570\u95a2\u6570\u7684\u306b\u5897\u52a0\u3057\u3066\u3086\u304f\u306a\u3089\u3070\u3001\u91cf\u7684\u7de9\u548c\u306a\u3057\u306b\u306f\u56fd\u50b5\u4fa1\u683c\u3092\u7dad\u6301\u3067\u304d\u306a\u3044\u72b6\u6cc1\u306f\u3044\u305a\u308c\u5fc5\u305a\u8a2a\u308c\u308b\u3002\u305d\u3057\u3066\u300c\u6307\u6570\u95a2\u6570\u7684\u300d\u306a\u5897\u52a0\u306b\u3088\u3063\u3066\u305d\u306e\u6c34\u6e96\u306b\u5230\u9054\u3059\u308b\u65e5\u306f\u305d\u308c\u307b\u3069\u9060\u304f\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u5c11\u3057\u306e\u6570\u5b66\u7684\u7d20\u990a\u306e\u3042\u308b\u4eba\u306a\u3089\u3070\u5206\u304b\u308b\u306f\u305a\u3060\u3002<\/p>\n\n\n\n<p>\u30c0\u30ea\u30aa\u6c0f\u306b\u3088\u308c\u3070\u3001\u305d\u3046\u3057\u305f\u554f\u984c\u306e\u5178\u578b\u7684\u306a\u89e3\u6c7a\u7b56\u306f\u3001\u653f\u5e9c\u304c\u4e2d\u592e\u9280\u884c\u306e\u640d\u5931\u3092\u88dc\u586b\u3059\u308b\u3053\u3068\u3060\u3068\u3044\u3046\u3002\u3060\u304c\u653f\u5e9c\u306f\u4e2d\u592e\u9280\u884c\u306e\u7d19\u5e63\u5370\u5237\u306b\u3088\u3063\u3066\u8cc7\u91d1\u4f9b\u7d66\u3055\u308c\u3066\u3044\u308b\u306e\u3067\u3001\u4e2d\u592e\u9280\u884c\u306f\u7d50\u5c40\u306f\u81ea\u5206\u306b\u8cc7\u91d1\u4f9b\u7d66\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u3053\u306e\u7a7a\u4e2d\u3067\u30b8\u30e3\u30f3\u30d7\u3057\u3066\u7a7a\u306b\u6d6e\u304d\u7d9a\u3051\u308b\u3088\u3046\u306a\u672b\u671f\u7684\u72b6\u6cc1\u306e\u5178\u578b\u7684\u306a\u5e30\u7d50\u306f\u3001\u91d1\u5229\u9ad8\u9a30\u304b\u901a\u8ca8\u66b4\u843d\u304b\u30a4\u30f3\u30d5\u30ec\u3001\u3042\u308b\u3044\u306f\u305d\u306e\u7d44\u307f\u5408\u308f\u305b\u3060\u308d\u3046\u3002<\/p>\n\n\n\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n\n\n\n<p>\u5b9f\u969b\u3001\u30a4\u30ae\u30ea\u30b9\u306f\u305d\u306e\u72b6\u6cc1\u306b\u5230\u9054\u3057\u304b\u3051\u305f\u30021\u3064\u524d\u306e\u30c8\u30e9\u30b9\u653f\u6a29\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u72b6\u6cc1\u4e0b\u3067\u5927\u898f\u6a21\u306a\u8ca1\u653f\u7de9\u548c\u3092\u884c\u304a\u3046\u3068\u3057\u305f\u3068\u304d\u3001\u91d1\u878d\u5e02\u5834\u3067\u306f\u82f1\u56fd\u50b5\u3068\u30dd\u30f3\u30c9\u304c\u4e21\u65b9\u6025\u843d\u3057\u305f\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/30020\" data-type=\"post\" data-id=\"30020\">\u30b5\u30de\u30fc\u30ba\u6c0f: 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class=\"wp-block-list\">\n<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>\n<\/ul>\n\n\n\n<p>\u30a2\u30e1\u30ea\u30ab\u306f\u3001\u57fa\u8ef8\u901a\u8ca8\u30c9\u30eb\u306e\u6069\u6075\u306b\u3088\u3063\u3066\u4eca\u306e\u3068\u3053\u308d\u65e5\u672c\u3084\u30a4\u30ae\u30ea\u30b9\u306e\u3088\u3046\u306a\u7fbd\u76ee\u306b\u306a\u3089\u306a\u3044\u3067\u6e08\u3093\u3067\u3044\u308b\u3002\u3060\u304c\u30b9\u30bf\u30f3\u30ec\u30fc\u30fb\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u306f\u3001\u307e\u3055\u306b\u305d\u308c\u304c\u539f\u56e0\u3067\u30a2\u30e1\u30ea\u30ab\u306f\u3088\u308a\u5927\u304d\u306a\u5371\u6a5f\u306b\u9665\u308b\u3068\u4e88\u60f3\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\/36946\" data-type=\"post\" data-id=\"36946\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f: \u30a2\u30e1\u30ea\u30ab\u306f\u57fa\u8ef8\u901a\u8ca8\u30c9\u30eb\u306e\u304a\u9670\u3067\u81f4\u547d\u50b7\u3092\u98df\u3089\u3046\u307e\u3067\u7de9\u548c\u3092\u7d9a\u3051\u3089\u308c\u308b<\/a><\/li>\n<\/ul>\n\n\n\n<p>\u77ed\u671f\u7684\u306a\u5ef6\u547d\u306e\u305f\u3081\u306b\u9577\u671f\u7684\u306a\u5371\u6a5f\u304c\u8a31\u5bb9\u3055\u308c\u308b\u3002\u3044\u3064\u3082\u306e\u3053\u3068\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u82e5\u8005\u305f\u3061\u306f\u305d\u308c\u3067\u826f\u3044\u306e\u3060\u308d\u3046\u304b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/31231\" data-type=\"post\" data-id=\"31231\">\u30c9\u30e9\u30c3\u30b1\u30f3\u30df\u30e9\u30fc\u6c0f\u3001\u9ad8\u9f62\u8005\u304c\u82e5\u8005\u304b\u3089\u643e\u53d6\u3059\u308b\u7a0e\u5236\u3092\u75db\u70c8\u6279\u5224<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9Bridgewater\u5275\u696d\u8005\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304cLinkedIn\u306e\u30d6\u30ed\u30b0\u3067\u3001\u4e16\u754c\u7684\u306a\u7269\u4fa1\u9ad8\u9a30\u3092\u3082\u305f\u3089\u3057\u305f\u73fe\u91d1\u7d66\u4ed8\u306b\u7d9a\u304f\u65b0\u305f\u306a\u91d1\u878d\u7de9\u548c\u306e\u65b9\u6cd5\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":[102],"class_list":["post-38616","post","type-post","status-publish","format-standard","hentry","category-us-bond-market","category-bond-markets","tag-ray-dalio"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/38616","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=38616"}],"version-history":[{"count":17,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/38616\/revisions"}],"predecessor-version":[{"id":38634,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/38616\/revisions\/38634"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=38616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=38616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=38616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}