{"id":4766,"date":"2016-11-18T20:04:38","date_gmt":"2016-11-18T11:04:38","guid":{"rendered":"http:\/\/www.globalmacroresearch.org\/jp\/?p=4766"},"modified":"2016-11-18T11:18:37","modified_gmt":"2016-11-18T02:18:37","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-%e9%95%b7%e6%9c%9f%e5%81%9c%e6%bb%9e%e3%81%a8%e4%bd%8e%e9%87%91%e5%88%a9%e3%81%a8%e3%82%b0","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/4766","title":{"rendered":"\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u9577\u671f\u505c\u6ede\u3068\u4f4e\u91d1\u5229\u3068\u30b0\u30ed\u30fc\u30d0\u30ea\u30ba\u30e0\u306f\u3059\u3079\u3066\u7d42\u308f\u3063\u305f"},"content":{"rendered":"<p>\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u30d6\u30ea\u30c3\u30b8\u30a6\u30a9\u30fc\u30bf\u30fc\u5275\u696d\u8005\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u3064\u3044\u306b\u30a2\u30e1\u30ea\u30ab\u5927\u7d71\u9818\u9078\u6319\u306b\u304a\u3051\u308b\u30c8\u30e9\u30f3\u30d7\u6c0f\u52dd\u5229\u5f8c\u306e\u4e16\u754c\u7d4c\u6e08\u306b\u3064\u3044\u3066\u8a9e\u308a\u59cb\u3081\u305f\u3002\u5927\u7d71\u9818\u9078\u5f8c\u306e\u91d1\u878d\u5e02\u5834\u306b\u3064\u3044\u3066\u306f\u3001\u3053\u308c\u307e\u3067\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306a\u3069\u69d8\u3005\u306a\u6295\u8cc7\u5bb6\u306e\u610f\u898b\u3092\u7d39\u4ecb\u3057\u3066\u304d\u305f\u304c\u3001\u305d\u306e\u306a\u304b\u3067\u500b\u4eba\u7684\u306b\u3082\u3063\u3068\u3082\u4fe1\u983c\u3059\u308b\u306e\u304c\u3053\u306e\u30c0\u30ea\u30aa\u6c0f\u3067\u3042\u308b\u3002<\/p>\n<p>\u305d\u3057\u3066\u305d\u306e\u30c0\u30ea\u30aa\u6c0f\u304c\u3001\u5148\u9032\u56fd\u7d4c\u6e08\u306e\u9577\u671f\u505c\u6ede\u3001\u305d\u3057\u3066\u4f4e\u91d1\u5229\u306e\u6642\u4ee3\u304c\u7d42\u308f\u3063\u305f\u3068\u8a00\u3063\u3066\u3044\u308b\u3002\u6b63\u76f4\u306b\u8a00\u3048\u3070\u7d50\u69cb\u9a5a\u3044\u305f\u304c\u3001\u8033\u3092\u50be\u3051\u306a\u3044\u8a33\u306b\u306f\u3086\u304b\u306a\u3044\u3060\u308d\u3046\u3002<\/p>\n<p><!--more--><strong>\u76f8\u5834\u304b\u3089\u4e00\u65e6\u624b\u3092\u9000\u3044\u305f\u30c0\u30ea\u30aa\u6c0f<\/strong><\/p>\n<p>\u4eca\u56de\u4e3b\u306b\u7d39\u4ecb\u3059\u308b\u306e\u306f\u3001LinkedIn\uff08<a href=\"https:\/\/www.linkedin.com\/pulse\/reflections-trump-presidency-one-week-after-election-ray-dalio?trk=prof-post\" target=\"_blank\">\u539f\u6587\u82f1\u8a9e<\/a>\uff09\u306b11\u670815\u65e5\u306b\u6295\u7a3f\u3055\u308c\u305f\u30c0\u30ea\u30aa\u6c0f\u306e\u8ad6\u8003\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u30c0\u30ea\u30aa\u6c0f\u306f10\u65e5\u306b\u3082\u9867\u5ba2\u306b\u5411\u3051\u305f\u66f8\u7c21\u3092\u51fa\u3057\u3066\u3044\u3066\u3001\u305d\u3053\u306b\u306f\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u52dd\u5229\u306b\u95a2\u3059\u308b\u6b21\u306e\u3088\u3046\u306a\u898b\u89e3\u304c\u66f8\u304b\u308c\u3066\u3044\u308b\u3002\uff08Business Insider\u3001<a href=\"http:\/\/www.businessinsider.com\/ray-dalio-there-is-much-more-that-we-dont-know-than-we-do-know-2016-11\" target=\"_blank\">\u539f\u6587\u82f1\u8a9e<\/a>\uff09<\/p>\n<blockquote><p>\u308f\u308c\u308f\u308c\u306f\u975e\u5e38\u306b\u4e0d\u660e\u77ad\u3067\u3001\u3057\u304b\u3057\u8208\u5473\u6df1\u3044\u6642\u4ee3\u306b\u7a81\u5165\u3057\u305f<\/p>\n<p>\u308f\u308c\u308f\u308c\u304c\u77e5\u3063\u3066\u3044\u308b\u3053\u3068\u3088\u308a\u3082\u591a\u304f\u306e\u672a\u77e5\u306e\u4e8b\u67c4\u304c\u5b58\u5728\u3057\u3066\u3044\u308b<\/p><\/blockquote>\n<p>\u7d4c\u6e08\u306b\u95a2\u3059\u308b\u5177\u4f53\u7684\u306a\u4e3b\u5f35\u304c\u542b\u307e\u308c\u3066\u3044\u306a\u304b\u3063\u305f\u305f\u3081\u3001\u305d\u306e\u6642\u306f\u53d6\u308a\u4e0a\u3052\u306a\u304b\u3063\u305f\u304c\u3001\u8981\u3059\u308b\u306b\u30c0\u30ea\u30aa\u6c0f\u306f\u305d\u306e\u5f8c\u306e\u63a8\u79fb\u3092\u898b\u5b88\u308a\u306a\u304c\u3089\u3001\u5927\u7d71\u9818\u9078\u5f8c\u306e\u76f8\u5834\u3092\u305a\u3063\u3068\u8003\u3048\u3066\u3044\u305f\u306e\u3060\u308d\u3046\u3002<\/p>\n<p>\u4e00\u65b9\u306715\u65e5\u306e\u8a18\u4e8b\u3067\u306f\u305d\u306e\u9593\u306b\u5f7c\u306e\u30d5\u30a1\u30f3\u30c9\u3001\u30d6\u30ea\u30c3\u30b8\u30a6\u30a9\u30fc\u30bf\u30fc\u304c\u76f8\u5834\u3067\u4f55\u3092\u3057\u3066\u3044\u305f\u304b\u304c\u8ff0\u3079\u3089\u308c\u3066\u3044\u308b\u3002\u7d50\u8ad6\u304b\u3089\u8a00\u3048\u3070\u3001\u4f55\u3082\u3057\u3066\u3044\u306a\u304b\u3063\u305f\u306e\u3067\u3042\u308b\u3002\u30c0\u30ea\u30aa\u6c0f\u306f\u3053\u3046\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n<blockquote><p>\u30d6\u30ea\u30c3\u30b8\u30a6\u30a9\u30fc\u30bf\u30fc\u306f\u3001\u3069\u3061\u3089\u306e\u5019\u88dc\u304c\u9078\u6319\u306b\u52dd\u3064\u306e\u304b\u3068\u3044\u3046\u3053\u3068\u306b\u3082\u3001\u305d\u3057\u3066\u52dd\u5229\u3057\u305f\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u660e\u308b\u3044\u672a\u6765\u3092\u3082\u305f\u3089\u3059\u306e\u304b\u3069\u3046\u304b\u3068\u3044\u3046\u3053\u3068\u306b\u3082\u8ced\u3051\u306a\u3044\u3053\u3068\u3092\u9078\u3093\u3060\u3002\u672a\u6765\u3092\u4e88\u60f3\u3059\u308b\u305f\u3081\u306b\u5fc5\u8981\u306a\u60c5\u5831\u304c\u6b20\u3051\u3066\u3044\u305f\u304b\u3089\u3067\u3042\u308b\u3002\u308f\u308c\u308f\u308c\u306f\u3044\u3064\u8ced\u3051\u304b\u3089\u624b\u3092\u5f15\u304f\u3079\u304d\u304b\u3092\u308f\u304d\u307e\u3048\u308b\u3053\u3068\u306b\u3088\u3063\u3066\u3001\u81ea\u5206\u305f\u3061\u304c\u6b63\u3057\u3044\u6c7a\u65ad\u3092\u3059\u308b\u30aa\u30c3\u30ba\u3092\u4e0a\u3052\u308b\u3053\u3068\u304c\u51fa\u6765\u308b\u3002\u305d\u308c\u304c\u4eca\u56de\u306e\u30b1\u30fc\u30b9\u3060\u3063\u305f\u306e\u3067\u3042\u308b\u3002<\/p><\/blockquote>\n<p>\u3053\u306e\u6587\u7ae0\u306b\u65e2\u8996\u611f\u3092\u899a\u3048\u308b\u8aad\u8005\u304c\u5c45\u308b\u3053\u3068\u3060\u308d\u3046\u3002\u3053\u308c\u306f\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u52dd\u5229\u5f8c\u306b\u9577\u3089\u304f\u7d9a\u3051\u3066\u304d\u305f\u91d1\u6295\u8cc7\u304b\u3089\u624b\u3092\u9000\u3044\u305f\u6642\u306e\u308f\u305f\u3057\u306e\u58f0\u660e\u3068\u307e\u3063\u305f\u304f\u540c\u3058\u7406\u5c48\u306a\u306e\u3067\u3042\u308b\u3002\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/4658\">\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u8a95\u751f\u3067\u6295\u8cc7\u306e\u9244\u5247\u306b\u5f93\u3044\u91d1\u76f8\u5834\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u3059\u3079\u3066\u5229\u76ca\u78ba\u5b9a<\/a><\/li>\n<\/ul>\n<blockquote><p>\u91d1\u6295\u8cc7\u3092\u5229\u76ca\u78ba\u5b9a\u3059\u308b\u7406\u7531\u306f\u3001\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u8a95\u751f\u3067\u76f8\u5834\u74b0\u5883\u304c\u4e00\u5909\u3057\u305f\u305f\u3081\u3067\u3042\u308b\u3002\uff08\u4e2d\u7565\uff09\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306e\u653f\u7b56\u306f\u307e\u3060\u5177\u4f53\u7684\u306b\u306f\u767a\u8868\u3055\u308c\u3066\u304a\u3089\u305a\u3001\u305d\u3057\u3066\u5f7c\u306e\u653f\u7b56\u306f\u91d1\u76f8\u5834\u306b\u77ed\u671f\u7684\u306b\u5927\u304d\u306a\u5f71\u97ff\u3092\u3082\u305f\u3089\u3059\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u3053\u308c\u306f\u91d1\u6295\u8cc7\u306b\u3068\u3063\u3066\u4e0d\u78ba\u5b9a\u6027\u3067\u3042\u308a\u3001\u6295\u8cc7\u306e\u6c7a\u3057\u3066\u4fb5\u3057\u3066\u306f\u306a\u3089\u306a\u3044\u9244\u5247\u306f\u3001\u4e0d\u78ba\u5b9a\u6027\u306e\u3042\u308b\u3082\u306e\u306b\u6295\u8cc7\u3092\u3057\u3066\u306f\u306a\u3089\u306a\u3044\u3068\u3044\u3046\u3082\u306e\u3067\u3042\u308b\u3002\u5229\u76ca\u78ba\u5b9a\u306e\u7406\u7531\u306f\u3053\u306e\u4e00\u70b9\u306b\u5c3d\u304d\u308b\u3002\u4ed6\u306b\u7406\u7531\u306f\u4f55\u3082\u306a\u3044\u3002<\/p><\/blockquote>\n<p>\u3053\u306e\u8a18\u4e8b\u306f\u65e5\u672c\u6642\u959311\u65e5\u306e\u3082\u306e\u3060\u304b\u3089\u3001\u3053\u3046\u3044\u3046\u72b6\u6cc1\u306b\u304a\u3051\u308b\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u53d6\u308a\u65b9\u3092\u3001\u3053\u3053\u3067\u306f4\u65e5\u5148\u53d6\u308a\u3057\u3066\u304a\u4f1d\u3048\u3057\u305f\u3053\u3068\u306b\u306a\u308b\u3002\u3053\u3053\u3067\u306f\u3053\u3046\u3057\u305f\u6295\u8cc7\u306e\u3084\u308a\u65b9\u3092\u3053\u305d\u8aad\u8005\u306b\u5b66\u3093\u3067\u6b32\u3057\u3044\u306e\u3067\u3042\u308b\u3002\u308f\u305f\u3057\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u771f\u4f3c\u3092\u3057\u3066\u3082\u3001\u5229\u76ca\u306f\u4e00\u904e\u6027\u306e\u3082\u306e\u3067\u3042\u308a\u3001\u3057\u304b\u3082\u308f\u305f\u3057\u3088\u308a\u3082\u4e0a\u624b\u304f\u30c8\u30ec\u30fc\u30c9\u3059\u308b\u3053\u3068\u306f\u51fa\u6765\u306a\u3044\u3060\u308d\u3046\u3002\u3057\u304b\u3057\u5b66\u3093\u3060\u624b\u6cd5\u306f\u6c38\u9060\u306b\u8aad\u8005\u306e\u3082\u306e\u3068\u306a\u308b\u3002\u305d\u3053\u304c\u91cd\u8981\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n<p><strong>\u53e4\u3044\u6642\u4ee3\u304c\u7d42\u308f\u308a\u3001\u65b0\u305f\u306a\u6642\u4ee3\u304c\u6765\u308b<\/strong><\/p>\n<p>\u30c0\u30ea\u30aa\u6c0f\u306b\u8a71\u3092\u623b\u305d\u3046\u3002\u30c0\u30ea\u30aa\u6c0f\u306f\u65b0\u305f\u306a\u6642\u4ee3\u306e\u5230\u6765\u3092\u4e88\u8a00\u3059\u308b\u3002\u5148\u9032\u56fd\u7d4c\u6e08\u5168\u4f53\u304c\u4f4e\u6210\u9577\u3068\u4f4e\u30a4\u30f3\u30d5\u30ec\u306b\u82e6\u3057\u3093\u3060\u6642\u4ee3\u304c\u7d42\u308f\u308b\u3068\u4e3b\u5f35\u3057\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002\u5f7c\u306f\u3053\u3046\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n<blockquote><p>\u5b9f\u4f53\u7d4c\u6e08\u3068\u91d1\u878d\u5e02\u5834\u304c\u3001\u308f\u308c\u308f\u308c\u304c\u9577\u3089\u304f\u6163\u308c\u89aa\u3057\u3093\u3067\u304d\u305f\u74b0\u5883\u304b\u3089\u30b7\u30d5\u30c8\u3059\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002\u308f\u308c\u308f\u308c\u304c\u3053\u308c\u304b\u3089\u4f55\u5e74\u3082\u7d4c\u9a13\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u6642\u4ee3\u306f\u3001\u3053\u308c\u307e\u3067\u306e\u6642\u4ee3\u3068\u306f\u5927\u304d\u304f\u9055\u3063\u305f\u3082\u306e\u306b\u306a\u308b\u3060\u308d\u3046\u3002<\/p><\/blockquote>\n<p>\u30c0\u30ea\u30aa\u6c0f\u306e\u8a00\u3046\u30b7\u30d5\u30c8\u3068\u306f\u5177\u4f53\u7684\u306b\u3069\u3046\u3044\u3046\u3082\u306e\u304b\uff1f\u3000\u5148\u305a\u306f\u3053\u308c\u307e\u3067\u306e\u6642\u4ee3\u304c\u3069\u3046\u3044\u3046\u3082\u306e\u3067\u3042\u3063\u305f\u304b\u3092\u6574\u7406\u3057\u3088\u3046\u3002\u30c0\u30ea\u30aa\u6c0f\u306b\u3088\u308c\u3070\u3001\u3053\u308c\u307e\u3067\u306e\u6642\u4ee3\u3068\u306f\u4ee5\u4e0b\u306e\u7279\u5fb4\u306b\u3088\u3063\u3066\u8c61\u5fb4\u3055\u308c\u308b\u3082\u306e\u3067\u3042\u3063\u305f\u3002<\/p>\n<ul>\n<li>\u30b0\u30ed\u30fc\u30d0\u30eb\u5316\u3001\u81ea\u7531\u8cbf\u6613\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u306a\u7e4b\u304c\u308a\u306e\u52a0\u901f<\/li>\n<li>\u6bd4\u8f03\u7684\u5bb3\u306e\u306a\u3044\u8ca1\u653f\u653f\u7b56<\/li>\n<li>\u9045\u3044\u56fd\u5185\u306e\u7d4c\u6e08\u6210\u9577\u3001\u4f4e\u3044\u30a4\u30f3\u30d5\u30ec\u3001\u4e0b\u843d\u3059\u308b\u91d1\u5229<\/li>\n<\/ul>\n<p>\u3053\u308c\u304c\u3001\u4ee5\u4e0b\u306e\u7279\u5fb4\u306b\u3088\u3063\u3066\u8c61\u5fb4\u3055\u308c\u308b\u65b0\u305f\u306a\u6642\u4ee3\u306b\u53d6\u3063\u3066\u4ee3\u308f\u3089\u308c\u308b\u3068\u8a00\u3046\u306e\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li>\u30b0\u30ed\u30fc\u30d0\u30eb\u5316\u3001\u81ea\u7531\u8cbf\u6613\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u306a\u7e4b\u304c\u308a\u306e\u5f8c\u9000<\/li>\n<li>\u6975\u3081\u3066\u666f\u6c17\u523a\u6fc0\u7684\u306a\u8ca1\u653f\u653f\u7b56<\/li>\n<li>\u52a0\u901f\u3059\u308b\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3001\u9ad8\u3044\u30a4\u30f3\u30d5\u30ec\u3001\u4e0a\u6607\u3059\u308b\u91d1\u5229<\/li>\n<\/ul>\n<p>\u305d\u3057\u3066\u305d\u306e\u5f71\u97ff\u306e\u306a\u304b\u3067\u3082\u3063\u3068\u3082\u5927\u304d\u3044\u3082\u306e\u306f\u4f55\u304b\uff1f\u3000\u91d1\u5229\u306e\u4e0a\u6607\u3067\u3042\u308b\u3002<\/p>\n<blockquote><p>\u4eca\u56de\u306e\u30a4\u30c7\u30aa\u30ed\u30ae\u30fc\u7684\u30b7\u30d5\u30c8\u304c\u3082\u305f\u3089\u3059\u5f71\u97ff\u306f\u3068\u8a00\u3048\u3070\u300130\u5e74\u7d9a\u3044\u305f\u50b5\u5238\u306e\u4e0a\u3052\u76f8\u5834\u306e\u5929\u4e95\u3092\u65e2\u306b\u8fce\u3048\u305f\u53ef\u80fd\u6027\u304c\u304b\u306a\u308a\u9ad8\u3044\u3068\u3044\u3046\u3053\u3068\u3060\u3002\u3064\u307e\u308a\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u5b9f\u8cea\u91d1\u5229\u306e\u4e21\u65b9\u306b\u3064\u3044\u3066\u3001\u6050\u3089\u304f\u306f\u9577\u671f\u7684\u306a\u5e95\u3092\u65e2\u306b\u8fce\u3048\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002<\/p><\/blockquote>\n<p>30\u5e74\u7d9a\u3044\u305f\u50b5\u5238\u306e\u4e0a\u3052\u76f8\u5834\u3068\u306f\u30011980\u5e74\u4ee3\u304b\u3089\u91d1\u5229\u304c\u4e0b\u304c\u308a\u7d9a\u3051\u305f\u3053\u3068\u3092\u6307\u3057\u3066\u3044\u308b\u3002\u91d1\u5229\u306e\u4e0b\u843d\u306f\u50b5\u5238\u4fa1\u683c\u306e\u4e0a\u6607\u3092\u610f\u5473\u3059\u308b\u3002\u4ee5\u4e0b\u306f\u30a2\u30e1\u30ea\u30ab\u306e\u653f\u7b56\u91d1\u5229\u306e\u9577\u671f\u30c1\u30e3\u30fc\u30c8\u3067\u3042\u308b\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/02\/2015-11-us-federal-funds-rate-historical-chart.png\" rel=\"attachment wp-att-2503\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2503\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/02\/2015-11-us-federal-funds-rate-historical-chart.png\" alt=\"2015-11-us-federal-funds-rate-historical-chart\" width=\"427\" height=\"346\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/02\/2015-11-us-federal-funds-rate-historical-chart.png 427w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/02\/2015-11-us-federal-funds-rate-historical-chart-300x243.png 300w\" sizes=\"auto, (max-width: 427px) 100vw, 427px\" \/><\/a><\/p>\n<p>\u3061\u306a\u307f\u306b\u30c0\u30ea\u30aa\u6c0f\u306f\u300c\u9577\u671f\u7684\u306a\u5e95\u300d\u306e\u300c\u9577\u671f\u7684\u306a\u300d\u3068\u3044\u3046\u5358\u8a9e\u306b&#8221;secular&#8221;\u3092\u4f7f\u3063\u3066\u3044\u308b\u3002\u3053\u308c\u306f\u9577\u671f\u505c\u6ede\u3001\u3064\u307e\u308a&#8221;secular stagnation&#8221;\u306e&#8221;secular&#8221;\u3067\u3042\u308b\u3002\u3064\u307e\u308a\u3001\u3053\u306e\u6587\u7ae0\u3092\u3082\u3063\u3066\u30c0\u30ea\u30aa\u6c0f\u306f\u3001\u5148\u9032\u56fd\u7d4c\u6e08\u306e\u9577\u671f\u505c\u6ede\u306f\u7d42\u308f\u3063\u305f\u3068\u8a00\u3063\u3066\u3044\u308b\u306e\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2489\">\u5143\u7c73\u56fd\u8ca1\u52d9\u9577\u5b98\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u304c\u9577\u671f\u505c\u6ede\u8ad6\u3068\u306f\u4f55\u304b\u3092\u8a9e\u308b<\/a><\/li>\n<\/ul>\n<p>\u30c0\u30ea\u30aa\u6c0f\u306f\u3053\u308c\u307e\u3067\u3001\u30e9\u30ea\u30fc\u30fb\u30b5\u30de\u30fc\u30ba\u6c0f\u306e\u9577\u671f\u505c\u6ede\u8ad6\u306e\u652f\u6301\u8005\u3067\u3042\u3063\u305f\u3002\u308f\u305f\u3057\u306e\u8a18\u61b6\u306b\u3088\u308c\u3070\u30b5\u30de\u30fc\u30ba\u6c0f\u3068\u5bfe\u8ac7\u3057\u3066\u9577\u671f\u505c\u6ede\u8ad6\u306b\u3064\u3044\u3066\u8b70\u8ad6\u3057\u3066\u3044\u305f\u52d5\u753b\u3082\u3042\u3063\u305f\u306f\u305a\u3067\u3042\u308b\u3002\u305d\u306e\u30c0\u30ea\u30aa\u6c0f\u304c\u3001\u305d\u306e\u610f\u898b\u3092\u64a4\u56de\u3057\u3066\u3001\u91d1\u5229\u306f\u4e0a\u304c\u308a\u3001\u7d4c\u6e08\u6210\u9577\u304c\u5fa9\u6d3b\u3059\u308b\u3068\u8a00\u3063\u3066\u3044\u308b\u3002\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u52dd\u5229\u304c\u305d\u308c\u3060\u3051\u306e\u610f\u5473\u3092\u6301\u3063\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n<p>\u91d1\u5229\u306e\u4e0a\u6607\u3001\u3064\u307e\u308a\u50b5\u5238\u4fa1\u683c\u306e\u4e0b\u843d\u306b\u3064\u3044\u3066\u306f\u3001\u6295\u8cc7\u5bb6\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3068\u3044\u3046\u6295\u6a5f\u7684\u8981\u56e0\u3082\u6307\u6458\u3057\u3066\u3044\u308b\u3002<\/p>\n<blockquote><p>30\u5e74\u3082\u7d9a\u3044\u305f\u4e0a\u3052\u76f8\u5834\u306e\u3088\u3046\u306a\u5927\u304d\u306a\u30c8\u30ec\u30f3\u30c9\u304c\u53cd\u8ee2\u3059\u308b\u6642\u3001\u5e02\u5834\u306b\u306f\u5927\u304d\u304f\u30d0\u30a4\u30a2\u30b9\u306e\u639b\u304b\u3063\u305f\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u62b1\u3048\u305f\u6295\u8cc7\u5bb6\u304c\u5927\u52e2\u5c45\u3066\u3001\u5f7c\u3089\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u306f\u53cd\u8ee2\u306e\u52e2\u3044\u306b\u3088\u3063\u3066\u9000\u5834\u3055\u305b\u3089\u308c\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u305d\u306e\u305f\u3081\u305d\u306e\u53cd\u8ee2\u306f\u3001\u305d\u3046\u3057\u305f\u6295\u8cc7\u5bb6\u304c\u5b8c\u5168\u306b\u9000\u5834\u3055\u305b\u3089\u308c\u308b\u307e\u3067\u7d9a\u304f\u81ea\u5df1\u5f37\u5316\u7684\u306a\u30c8\u30ec\u30f3\u30c9\u3068\u306a\u308b\u306e\u3067\u3042\u308b\u3002<\/p><\/blockquote>\n<p>\u300c\u81ea\u5df1\u5f37\u5316\u7684\u300d\u3068\u3044\u3046\u306e\u306f\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u306e\u7528\u8a9e\u3067\u3042\u308b\u3002\u30bd\u30ed\u30b9\u6c0f\u306e\u518d\u5e30\u7406\u8ad6\u3067\u306f\u3001\u3042\u308b\u30c8\u30ec\u30f3\u30c9\u304c\u3082\u305f\u3089\u3057\u305f\u3042\u308b\u7d50\u679c\u304c\u305d\u306e\u30c8\u30ec\u30f3\u30c9\u81ea\u8eab\u3092\u5f37\u5316\u3059\u308b\u3082\u306e\u3067\u3042\u308b\u3068\u304d\u3001\u305d\u306e\u30c8\u30ec\u30f3\u30c9\u306f\u300c\u81ea\u5df1\u5f37\u5316\u7684\u300d\u3067\u3042\u308b\u3068\u547c\u3076\u3002\u8a73\u3057\u304f\u306f\u5f7c\u306e\u8457\u66f8\u300e<a href=\"http:\/\/amzn.to\/2dIkmuz\" target=\"_blank\">\u30bd\u30ed\u30b9\u306e\u932c\u91d1\u8853<\/a>\u300f\u3092\u53c2\u8003\u306b\u3057\u3066\u307b\u3057\u3044\u3002\u30c0\u30ea\u30aa\u6c0f\u306f\u5f53\u305f\u308a\u524d\u306e\u3088\u3046\u306b\u4f7f\u3063\u3066\u3044\u308b\u304c\u3001\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u696d\u754c\u306e\u5e38\u8b58\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n<p><a href=\"https:\/\/www.amazon.co.jp\/%E6%96%B0%E7%89%88-%E3%82%BD%E3%83%AD%E3%82%B9%E3%81%AE%E9%8C%AC%E9%87%91%E8%A1%93-%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\/4862801307\/ref=as_li_ss_il?ie=UTF8&amp;qid=1475935090&amp;sr=8-1&amp;keywords=%E3%82%BD%E3%83%AD%E3%82%B9%E3%81%AE%E9%8C%AC%E9%87%91%E8%A1%93&amp;linkCode=li2&amp;tag=globalmacrore-22&amp;linkId=3a614b92214fffdeacb8de58c86e2b60\" target=\"_blank\"><img decoding=\"async\" src=\"http:\/\/ws-fe.amazon-adsystem.com\/widgets\/q?_encoding=UTF8&amp;ASIN=4862801307&amp;Format=_SL160_&amp;ID=AsinImage&amp;MarketPlace=JP&amp;ServiceVersion=20070822&amp;WS=1&amp;tag=globalmacrore-22\" alt=\"\" border=\"0\" \/><\/a><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ir-jp.amazon-adsystem.com\/e\/ir?t=globalmacrore-22&amp;l=li2&amp;o=9&amp;a=4862801307\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" \/><br \/>\n<a href=\"http:\/\/amzn.to\/2dIkmuz\" target=\"_blank\">\u65b0\u7248 \u30bd\u30ed\u30b9\u306e\u932c\u91d1\u8853<\/a><\/p>\n<p><strong>\u682a\u3084\u70ba\u66ff\u306f\u3069\u3046\u306a\u308b\u304b\uff1f<\/strong><\/p>\n<p>\u50b5\u5238\u5e02\u5834\u306b\u95a2\u3059\u308b\u30c0\u30ea\u30aa\u6c0f\u306e\u898b\u901a\u3057\u306f\u660e\u78ba\u3067\u3042\u308b\u3002\u3067\u306f\u4ed6\u306e\u5e02\u5834\u306f\u3069\u3046\u306a\u308b\u306e\u304b\uff1f\u3000\u30c0\u30ea\u30aa\u6c0f\u306f\u81ea\u5206\u306e\u8003\u3048\u3092\u6574\u7406\u3059\u308b\u3088\u3046\u306b\u3001\u4e2d\u592e\u9280\u884c\u3084\u30c9\u30eb\u306e\u898b\u901a\u3057\u3001\u682a\u5f0f\u5e02\u5834\u306e\u52d5\u304d\u306a\u3069\u306b\u3064\u3044\u3066\u65ad\u7247\u7684\u306b\u8ff0\u3079\u59cb\u3081\u308b\u3002<\/p>\n<blockquote><p>Fed\uff08\u9023\u90a6\u6e96\u5099\u5236\u5ea6\uff09\u3068\u3001\u3082\u3057\u304b\u3059\u308c\u3070\u305d\u306e\u4ed6\u306e\u4e2d\u592e\u9280\u884c\u306f\u3001\u91d1\u878d\u5f15\u304d\u7de0\u3081\u306b\u52d5\u304f\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002\u305d\u3046\u3059\u308c\u3070\u91d1\u878d\u653f\u7b56\u3068\u8ca1\u653f\u653f\u7b56\u304c\u7d4c\u6e08\u306e\u306a\u304b\u3067\u53cd\u5bfe\u65b9\u5411\u306b\u4f5c\u7528\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u4ed6\u56fd\u306b\u6bd4\u3079\u3066\u6bd4\u8f03\u7684\u5f37\u3044\u30a2\u30e1\u30ea\u30ab\u306e\u7d4c\u6e08\u6210\u9577\u3068\u6bd4\u8f03\u7684\u5f15\u304d\u7de0\u3081\u7684\u306a\u30a2\u30e1\u30ea\u30ab\u306e\u91d1\u878d\u653f\u7b56\u306f\u30c9\u30eb\u9ad8\u3092\u3082\u305f\u3089\u3059\u3002\u8ca1\u653f\u523a\u6fc0\u304c\u7d4c\u6e08\u6210\u9577\u3092\u3082\u305f\u3089\u3059\u3053\u3068\u3068\u3001\u6cd5\u4eba\u6e1b\u7a0e\u3001\u898f\u5236\u7de9\u548c\u306f\u4f01\u696d\u306e\u53ce\u76ca\u7387\u3068\u682a\u5f0f\u5e02\u5834\u306b\u3068\u3063\u3066\u30d7\u30e9\u30b9\u3067\u3042\u308b\u3002\u4f46\u3057\u3001\u682a\u306f\u56fd\u969b\u7684\u306a\u4f01\u696d\u3088\u308a\u3082\u56fd\u5185\u5fd7\u5411\u306e\u3082\u306e\u306e\u65b9\u304c\u6709\u5229\u3060\u308d\u3046\u3002<\/p><\/blockquote>\n<p>\u3053\u306e\u90e8\u5206\u3060\u3051\u5207\u308a\u53d6\u308c\u3070\u3001\u30c9\u30eb\u9ad8\u3068\u682a\u9ad8\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3088\u3046\u306b\u805e\u3053\u3048\u308b\u3002\u3057\u304b\u3057\u3001\u305d\u306e\u3059\u3050\u6b21\u306e\u90e8\u5206\u3092\u8aad\u3081\u3070\u3001\u30c0\u30ea\u30aa\u6c0f\u304c\u4e0d\u5409\u306a\u5c06\u6765\u3092\u4e88\u60f3\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308b\u3002<\/p>\n<blockquote><p>\u554f\u984c\u306f\u3001\u3053\u3046\u3057\u305f\u52d5\u304d\u304c\u3044\u3064\u58ca\u308c\u59cb\u3081\u308b\u304b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u4f8b\u3048\u3070\u3001\u540d\u76ee\u306e\uff08\u305d\u3057\u3066\u3088\u308a\u91cd\u8981\u306a\u306e\u306f\u5b9f\u8cea\u306e\uff09\u91d1\u5229\u306e\u4e0a\u6607\u304c\u3001\u4ed6\u306e\u8cc7\u7523\u30af\u30e9\u30b9\u306e\u4fa1\u683c\u3092\u6bc0\u640d\u3057\u59cb\u3081\u308b\u306e\u306f\u3044\u3064\u306b\u306a\u308b\u306e\u304b\uff1f\u3000\u305d\u308c\u306f\u3044\u304f\u3064\u304b\u306e\u8981\u7d20\u306b\u3088\u3063\u3066\u5de6\u53f3\u3055\u308c\u308b\u3002\u4f8b\u3048\u3070\u3001\u30a4\u30f3\u30d5\u30ec\u7387\u3068\u7d4c\u6e08\u6210\u9577\u7387\u306e\u4e0a\u6607\u304c\u3069\u306e\u7a0b\u5ea6\u8a31\u5bb9\u3055\u308c\u308b\u306e\u304b\u3001\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u3053\u3046\u3057\u305f\u8a71\u984c\u306b\u4eca\u89e6\u308c\u308b\u3053\u3068\u306f\u907f\u3051\u305f\u3044\u3002\u672c\u984c\u304b\u3089\u9038\u308c\u3066\u3057\u307e\u3046\u304b\u3089\u3067\u3042\u308b\u3002<\/p><\/blockquote>\n<p>\u3080\u3057\u308d\u3053\u306e\u90e8\u5206\u3092\u3088\u308a\u8a73\u3057\u304f\u805e\u304d\u305f\u3044\u304f\u3089\u3044\u3060\u304c\u3001\u3057\u304b\u3057\u5f7c\u306e\u8a00\u3063\u3066\u3044\u308b\u3053\u3068\u306f\u308f\u305f\u3057\u304c\u3053\u308c\u307e\u3067\u793a\u5506\u3057\u3066\u304d\u305f\u53ef\u80fd\u6027\u3068\u540c\u3058\u3067\u3042\u308b\u3002\u3053\u308c\u306f\u30c8\u30e9\u30f3\u30d7\u6c0f\u3082\u6c17\u4ed8\u3044\u3066\u3044\u308b\u3053\u3068\u3067\u3082\u3042\u308b\u3002\u3064\u307e\u308a\u3001\u91d1\u5229\u304c\u4e0a\u304c\u308c\u3070\u682a\u5f0f\u5e02\u5834\u306b\u304a\u3051\u308b\u91cf\u7684\u7de9\u548c\u30d0\u30d6\u30eb\u304c\u5d29\u58ca\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308b\u3002\u3053\u306e\u70b9\u3067\u5f7c\u3068\u306e\u540c\u610f\u304c\u53d6\u308c\u305f\u3053\u3068\u306f\u53ce\u7a6b\u3067\u3042\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/4064\">\u30c9\u30ca\u30eb\u30c9\u30fb\u30c8\u30e9\u30f3\u30d7\u6c0f: \u7c73\u56fd\u682a\u306f\u5de8\u5927\u306a\u30d0\u30d6\u30eb\u3001\u5229\u4e0a\u3052\u306f\u682a\u4fa1\u3092\u5d29\u58ca\u3055\u305b\u308b<\/a><\/li>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/2219\">\u91cf\u7684\u7de9\u548c\u30d0\u30d6\u30eb\u3092\u5d29\u58ca\u3055\u305b\u308b\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30ea\u30d0\u30e9\u30f3\u30b9\u306e\u9006\u6d41<\/a><\/li>\n<\/ul>\n<p><strong>\u30c8\u30e9\u30f3\u30d7\u653f\u6a29\u306f\u6709\u80fd\u304b\uff1f<\/strong><\/p>\n<p>\u30c0\u30ea\u30aa\u6c0f\u306f\u6700\u5f8c\u306b\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u9078\u3093\u3060\u4eba\u6750\u3067\u69cb\u6210\u3055\u308c\u308b\u65b0\u305f\u306a\u653f\u5e9c\u304c\u6709\u80fd\u304b\u3069\u3046\u304b\u3092\u5224\u65ad\u3057\u3066\u3044\u308b\u3002\u52ff\u8ad6\u3001\u8ca1\u52d9\u9577\u5b98\u306a\u3069\u306e\u5404\u30dd\u30b9\u30c8\u306f\u307e\u3060\u4eba\u9078\u306e\u6700\u4e2d\u3067\u3042\u308a\u3001\u78ba\u5b9a\u60c5\u5831\u306f\u4f55\u3082\u306a\u3044\u3002\u3057\u304b\u3057\u73fe\u5728\u540d\u524d\u306e\u4e0a\u304c\u3063\u3066\u3044\u308b\u4eba\u7269\u306b\u3064\u3044\u3066\u3001\u30c0\u30ea\u30aa\u6c0f\u306f\u3053\u3046\u8ff0\u3079\u3066\u3044\u308b\u3002<\/p>\n<blockquote><p>\u30c8\u30e9\u30f3\u30d7\u6c0f\u304c\u8003\u616e\u3057\u3066\u3044\u308b\u3068\u5642\u3055\u308c\u308b\u4eba\u6750\u306e\u591a\u304f\u306f\u3001\u7d4c\u6e08\u3068\u3044\u3046\u6a5f\u68b0\u304c\u3069\u306e\u3088\u3046\u306b\u52d5\u4f5c\u3059\u308b\u306e\u304b\u306b\u5bfe\u3059\u308b\u5341\u5206\u306a\u7406\u89e3\u3092\u6301\u3063\u3066\u304a\u308a\u3001\u5f7c\u3089\u304c\u3082\u305f\u3089\u3059\u30a4\u30c7\u30aa\u30ed\u30ae\u30fc\u306e\u30c8\u30ec\u30f3\u30c9\u53cd\u8ee2\u306e\u5f71\u97ff\u306b\u3064\u3044\u3066\u5408\u7406\u7684\u306a\u8a08\u7b97\u304c\u53ef\u80fd\u306a\u4eba\u6750\u3067\u3042\u308b\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u65b0\u653f\u6a29\u306f\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3092\u5411\u3053\u3046\u898b\u305a\u3067\u611a\u304b\u306a\u65b9\u6cd5\u3067\u5ea7\u7901\u3055\u305b\u305f\u308a\u306f\u3057\u306a\u3044\u3060\u308d\u3046\u3068\u8e0f\u3093\u3067\u3044\u308b\u3002<\/p><\/blockquote>\n<p>\u308f\u305f\u3057\u3082\u3053\u308c\u306b\u540c\u610f\u3059\u308b\u3002\u30c8\u30e9\u30f3\u30d7\u6c0f\u306f\u81ea\u8eab\u306f\u7d4c\u6e08\u306e\u30d7\u30ed\u3067\u306f\u306a\u3044\u304c\u3001\u512a\u308c\u305f\u4eba\u6750\u3092\u5468\u56f2\u306b\u7f6e\u3044\u3066\u3044\u308b\u3002\u305d\u306e\u7d50\u679c\u3001\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306e\u7d4c\u6e08\u653f\u7b56\u306f\u3001\u7d4c\u6e08\u5b66\u7684\u89b3\u70b9\u304b\u3089\u898b\u3066\u3082\u7406\u5c48\u306e\u901a\u3063\u305f\u3082\u306e\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/4698\">\u30de\u30af\u30ed\u7d4c\u6e08\u5b66\u306e\u6700\u5148\u7aef\u3092\u884c\u304f\u30c9\u30ca\u30eb\u30c9\u30fb\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u306e\u7d4c\u6e08\u653f\u7b56<\/a><\/li>\n<\/ul>\n<p>\u3061\u306a\u307f\u306b\u300c\u5642\u3055\u308c\u3066\u3044\u308b\u4eba\u6750\u300d\u3068\u306f\u3001\u4f8b\u3048\u3070\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u7d4c\u6e08\u9867\u554f\u30c1\u30fc\u30e0\u306b\u540d\u524d\u3092\u9023\u306d\u3066\u3044\u308b\u30012008\u5e74\u306b\u30b5\u30d6\u30d7\u30e9\u30a4\u30e0\u30ed\u30fc\u30f3\u3092\u7a7a\u58f2\u308a\u3057\u305f\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u306e\u30b8\u30e7\u30f3\u30fb\u30dd\u30fc\u30eb\u30bd\u30f3\u6c0f\u3067\u3042\u308b\u3002\u307e\u305f\u3001\u30c8\u30e9\u30f3\u30d7\u6c0f\u306e\u500b\u4eba\u7684\u306a\u53cb\u4eba\u3067\u4e16\u754c\u3067\u3082\u3063\u3068\u3082\u8457\u540d\u306a\u300c\u7269\u8a00\u3046\u6295\u8cc7\u5bb6\u300d\u306e\u30ab\u30fc\u30eb\u30fb\u30a2\u30a4\u30ab\u30fc\u30f3\u6c0f\u3082\u3001\u30c8\u30e9\u30f3\u30d7\u5927\u7d71\u9818\u3078\u306e\u52a9\u8a00\u3092\u60dc\u3057\u307e\u306a\u3044\u3068\u516c\u8a00\u3057\u3066\u3044\u308b\u3002\u5f7c\u3089\u4e8c\u4eba\u306e\u6700\u65b0\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u3064\u3044\u3066\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u5831\u3058\u3066\u3042\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/4727\">\u30c8\u30e9\u30f3\u30d7\u6c0f\u52dd\u5229\u3067\u5927\u5132\u3051\u3057\u305f\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u904b\u7528\u8005\u305f\u3061<\/a><\/li>\n<\/ul>\n<p>\u3053\u308c\u307e\u3067\u6295\u8cc7\u9280\u884c\u5bb6\u306e\u52a9\u529b\u3092\u5f97\u305f\u653f\u6cbb\u5bb6\u306f\u3044\u304f\u3089\u3067\u3082\u5c45\u305f\u304c\u3001\u30d0\u30a4\u30b5\u30a4\u30c9\u306e\u4eba\u9593\u306e\u52a9\u529b\u3092\u5f97\u305f\u653f\u6cbb\u5bb6\u306f\u307b\u3068\u3093\u3069\u5c45\u306a\u304b\u3063\u305f\u3060\u308d\u3046\u3002\u6295\u8cc7\u9280\u884c\u306e\u4eba\u9593\u306a\u3089\u3070\u91d1\u3068\u6a29\u529b\u3067\u91e3\u308b\u3053\u3068\u304c\u51fa\u6765\u308b\u304c\u3001\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u306e\u4eba\u9593\u306f\u4e16\u754c\u3067\u3082\u3063\u3068\u3082\u91d1\u3067\u91e3\u308a\u306b\u304f\u3044\uff08\u3042\u308b\u3044\u306f\u4eba\u4ef6\u8cbb\u304c\u4e16\u754c\u3067\u3082\u3063\u3068\u3082\u9ad8\u4fa1\u306a\uff09\u4eba\u7a2e\u3067\u3042\u308a\u3001\u99ac\u9e7f\u3070\u304b\u308a\u306e\u653f\u6cbb\u306e\u4e16\u754c\u306b\u9996\u3092\u7a81\u3063\u8fbc\u3080\u3088\u308a\u306f\u3001\u81ea\u5206\u306e\u4f1a\u793e\u3067\u81ea\u5206\u306e\u9078\u3093\u3060\u4eba\u3005\u3068\u597d\u304d\u306a\u3088\u3046\u306b\u81ea\u5206\u306e\u4ed5\u4e8b\u3092\u3059\u308b\u3053\u3068\u3092\u671b\u3080\u4eba\u7a2e\u306a\u306e\u3067\u3042\u308b\u3002\u3060\u304b\u3089\u500b\u4eba\u7684\u306a\u30b3\u30cd\u30af\u30b7\u30e7\u30f3\u3067\u3053\u3046\u3057\u305f\u4eba\u6750\u306e\u52a9\u529b\u3092\u5f97\u3089\u308c\u308b\u30c8\u30e9\u30f3\u30d7\u6c0f\u306f\u3001\u653f\u6cbb\u5bb6\u3068\u3057\u3066\u672c\u5f53\u306b\u6075\u307e\u308c\u3066\u3044\u308b\u3002<\/p>\n<p>\u3053\u306e\u8a71\u3067\u601d\u3044\u51fa\u3057\u305f\u306e\u306f\u3001\u30c0\u30ea\u30aa\u6c0f\u304c\u91d1\u3092\u76ee\u7684\u306b\u50cd\u3044\u3066\u3044\u308b\u4eba\u9593\u306f\u7d76\u5bfe\u306b\u96c7\u308f\u306a\u3044\u3068\u516c\u8a00\u3057\u3066\u3044\u305f\u3053\u3068\u3067\u3042\u308b\u3002\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u696d\u754c\u306f\u91d1\u878d\u696d\u754c\u306e\u4e2d\u3067\u3082\u7279\u6b8a\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u507d\u7269\u3070\u304b\u308a\u306e\u91d1\u878d\u696d\u754c\u3067\u3001\u6b63\u771f\u6b63\u9298\u306e\u672c\u7269\u304c\u96c6\u307e\u308b\u5834\u6240\u3067\u3082\u3042\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/4131\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u306b\u5c31\u8077\u3059\u308b\u306b\u306f\uff1f\u3000\u5275\u696d\u8005\u304c\u63a1\u7528\u3068\u9762\u63a5\u3092\u8a9e\u308b<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3001\u30d6\u30ea\u30c3\u30b8\u30a6\u30a9\u30fc\u30bf\u30fc\u5275\u696d\u8005\u306e\u30ec\u30a4\u30fb\u30c0\u30ea\u30aa\u6c0f\u304c\u3064\u3044\u306b\u30a2\u30e1\u30ea\u30ab\u5927\u7d71\u9818\u9078\u6319\u306b\u304a\u3051\u308b\u30c8\u30e9\u30f3\u30d7\u6c0f\u52dd\u5229\u5f8c\u306e\u4e16\u754c\u7d4c\u6e08\u306b\u3064\u3044\u3066\u8a9e\u308a\u59cb\u3081\u305f\u3002\u5927\u7d71\u9818\u9078\u5f8c\u306e\u91d1\u878d\u5e02\u5834\u306b\u3064\u3044\u3066\u306f\u3001\u3053\u308c\u307e\u3067\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306a\u3069\u69d8\u3005\u306a\u6295\u8cc7\u5bb6 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/4766\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u4e16\u754c\u6700\u5927\u306e\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9: \u9577\u671f\u505c\u6ede\u3068\u4f4e\u91d1\u5229\u3068\u30b0\u30ed\u30fc\u30d0\u30ea\u30ba\u30e0\u306f\u3059\u3079\u3066\u7d42\u308f\u3063\u305f<\/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":[59,118,111,108],"tags":[64,72,96,102],"class_list":["post-4766","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-us-bond-market","category-stock-markets","category-bond-markets","tag-fed","tag-rate-hike","tag-donald-trump","tag-ray-dalio"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/4766","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=4766"}],"version-history":[{"count":13,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/4766\/revisions"}],"predecessor-version":[{"id":4782,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/4766\/revisions\/4782"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=4766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=4766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=4766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}