{"id":5052,"date":"2016-12-17T22:29:33","date_gmt":"2016-12-17T13:29:33","guid":{"rendered":"http:\/\/www.globalmacroresearch.org\/jp\/?p=5052"},"modified":"2016-12-17T22:29:33","modified_gmt":"2016-12-17T13:29:33","slug":"%e3%82%b8%e3%83%a0%e3%83%bb%e3%83%ad%e3%82%b8%e3%83%a3%e3%83%bc%e3%82%ba%e6%b0%8f%e3%81%ae%e9%80%86%e5%bc%b5%e3%82%8a%e6%8a%95%e8%b3%87%e3%81%ae%e6%ad%b4%e5%8f%b2%e3%82%921980%e5%b9%b4%e3%81%8b","status":"publish","type":"post","link":"https:\/\/www.globalmacroresearch.org\/jp\/archives\/5052","title":{"rendered":"\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306e\u9006\u5f35\u308a\u6295\u8cc7\u306e\u6b74\u53f2\u30921980\u5e74\u304b\u3089\u632f\u308a\u8fd4\u308b"},"content":{"rendered":"<p>\u3053\u308c\u307e\u3067\u4f55\u5ea6\u3082\u53d6\u308a\u4e0a\u3052\u3066\u304d\u305f\u8457\u540d\u6295\u8cc7\u5bb6\u306e\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u3001\u5468\u77e5\u306e\u901a\u308a\u9006\u5f35\u308a\u6295\u8cc7\u5bb6\u3067\u3042\u308b\u3002\u30d6\u30fc\u30e0\u306b\u306a\u3063\u3066\u3044\u308b\u5e02\u5834\u306b\u306f\u76ee\u3082\u304f\u308c\u305a\u3001\u6295\u8cc7\u5bb6\u306b\u898b\u5411\u304d\u3082\u3055\u308c\u306a\u3044\u5e02\u5834\u3001\u3042\u308b\u3044\u306f\u53e9\u304d\u58f2\u3089\u308c\u3066\u3044\u308b\u5e02\u5834\u306b\u6295\u8cc7\u3092\u3057\u7d9a\u3051\u308b\u3002<\/p>\n<p>\u5f7c\u306f1973\u5e74\u306b\u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u6c0f\u3068\u30af\u30a9\u30f3\u30bf\u30e0\u30fb\u30d5\u30a1\u30f3\u30c9\u3092\u8a2d\u7acb\u3057\u3001\u9014\u65b9\u3082\u306a\u3044\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u53e9\u304d\u51fa\u3057\u305f\u5f8c\u30011980\u5e74\u306b\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u3092\u5f15\u9000\u3001\u305d\u306e\u5f8c\u306f\u4e16\u754c\u4e00\u5468\u306a\u3069\u3092\u3057\u306a\u304c\u3089\u81ea\u5206\u306e\u8cc7\u91d1\u3092\u904b\u7528\u3059\u308b\u5192\u967a\u6295\u8cc7\u5bb6\u3068\u306a\u3063\u3066\u3044\u308b\u3002<\/p>\n<p>\u5f7c\u306e\u9006\u5f35\u308a\u306e\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u306f\u305d\u306e\u5f53\u6642\u304b\u3089\u306e\u3082\u306e\u3067\u3042\u308b\u3002\u4eca\u56de\u306e\u8a18\u4e8b\u3067\u306f\u5f7c\u306e\u8457\u66f8\u300e<a href=\"http:\/\/amzn.to\/2huoBx9\" target=\"_blank\">\u5546\u54c1\u306e\u6642\u4ee3<\/a>\u300f\u306b\u66f8\u304b\u308c\u305f\u5f15\u9000\u5f8c\u306e\u5f7c\u306e\u6295\u8cc7\u306b\u7740\u76ee\u3057\u3001\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306e\u9006\u5f35\u308a\u6295\u8cc7\u306e\u6b74\u53f2\u3092\u7d39\u4ecb\u3057\u3066\u3086\u304d\u305f\u3044\u3002<\/p>\n<p><!--more--><strong>1980\u5e74\u4ee3\u306e\u7c73\u56fd\u682a<\/strong><\/p>\n<p>\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u304c\u30af\u30a9\u30f3\u30bf\u30e0\u30fb\u30d5\u30a1\u30f3\u30c9\u3092\u8f9e\u3081\u305f1980\u5e74\u307e\u3067\u306e\u5341\u6570\u5e74\u3001\u30a2\u30e1\u30ea\u30ab\u306e\u682a\u5f0f\u5e02\u5834\u306f\u4e0d\u8abf\u7d9a\u304d\u3060\u3063\u305f\u30021970\u5e74\u4ee3\u306f\u30a2\u30e1\u30ea\u30ab\u7d4c\u6e08\u3092\u9ad8\u3044\u30a4\u30f3\u30d5\u30ec\u304c\u8972\u3063\u305f\u6642\u4ee3\u3067\u3042\u308a\u3001\u7269\u4fa1\u306f\u4e0a\u304c\u3063\u3066\u3082\u7d4c\u6e08\u6210\u9577\u7387\u306f\u4e0a\u304c\u3089\u306a\u304b\u3063\u305f\u3002<\/p>\n<p>\u682a\u4fa1\u306f1970\u5e74\u4ee3\u3092\u901a\u3058\u3066\u307b\u307c\u6a2a\u3070\u3044\u3067\u3042\u308b\u3002\u7269\u4fa1\u304c\u6bce\u5e7410%\u3082\u4e0a\u304c\u308b\u306a\u304b\u3067\u682a\u4fa1\u304c10\u5e74\u3082\u6a2a\u3070\u3044\u3067\u3042\u308c\u3070\u3001\u5b9f\u8cea\u7684\u306b\u306f\u682a\u5f0f\u6295\u8cc7\u5bb6\u306f\u5927\u640d\u3067\u3042\u308b\u3002<\/p>\n<p>\u8ab0\u3082\u304c\u682a\u5f0f\u5e02\u5834\u306b\u60b2\u89b3\u7684\u3067\u30011979\u5e74\u306e\u30cb\u30e5\u30fc\u30ba\u30a6\u30a3\u30fc\u30af\u8a8c\u306e\u8868\u7d19\u306b\u306f\u300c\u682a\u306f\u6b7b\u3093\u3060\uff01\u300d\u3068\u5927\u898b\u51fa\u3057\u304c\u8e0a\u3063\u305f\u3002\u3057\u304b\u3057\u305d\u3046\u306f\u601d\u3063\u3066\u3044\u306a\u3044\u6295\u8cc7\u5bb6\u304c\u5c45\u305f\u3002\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u66f8\u3044\u3066\u3044\u308b\u3002<\/p>\n<blockquote><p>\u305d\u3093\u306a\u3053\u3068\u306f\u306a\u3044\u3068\u308f\u305f\u3057\u306f\u601d\u3063\u3066\u3044\u305f\u30021982\u5e74\u306b\u516c\u306e\u5834\u3067\u3001\u682a\u306e\u4e0b\u843d\u76f8\u5834\u306f\u7d42\u308f\u3063\u305f\u3001\u304a\u305d\u3089\u304f\u4eca\u304c\u8cb7\u3044\u6642\u3060\u3068\u8ff0\u3079\u305f\u3068\u304d\u3001\u7686\u306b\u306f\u6c17\u304c\u72c2\u3063\u305f\u3068\u601d\u308f\u308c\u305f\u3002<\/p><\/blockquote>\n<p>\u3057\u304b\u3057\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u5468\u56f2\u306e\u5426\u5b9a\u7684\u306a\u53cd\u5fdc\u3092\u3080\u3057\u308d\u6b53\u8fce\u3057\u305f\u3002<\/p>\n<blockquote><p>\u3082\u3063\u3068\u3082\u3001\u305d\u308c\u306f\u3088\u3044\u5146\u5019\u3060\u3002\u305d\u306e\u9803\u306b\u306f\u3001\u81ea\u5206\u306f\u4ed6\u4eba\u304c\u6295\u8cc7\u3057\u306a\u3044\u3068\u3053\u308d\u306b\u6295\u8cc7\u3057\u3066\u5132\u3051\u3066\u304d\u305f\u306e\u3060\u3068\u308f\u304b\u3063\u3066\u3044\u305f\u3057\u3001\u4eba\u3005\u306f\u682a\u306b\u5bfe\u3057\u3066\u81c6\u75c5\u306b\u306a\u308a\u3059\u304e\u3066\u3044\u305f\u3002\u901a\u5ff5\u306b\u9006\u3089\u3046\u3079\u304d\u3068\u304d\u304c\u6765\u3066\u3044\u305f\u3002<\/p><\/blockquote>\n<p>\u305d\u306e\u5f8c\u30a2\u30e1\u30ea\u30ab\u306e\u682a\u5f0f\u5e02\u5834\u306f\u3069\u3046\u306a\u3063\u305f\u304b\uff1f\u30001982\u5e74\u304b\u3089\u306e\u76f8\u5834\u3068\u8a00\u3048\u3070\u3001\u91d1\u878d\u95a2\u4fc2\u8005\u306a\u3089\u3070\u5468\u77e5\u306e\u901a\u308a\u3001\u30ec\u30fc\u30ac\u30ce\u30df\u30af\u30b9\u306b\u3088\u308b\u6b74\u53f2\u7684\u306a\u5927\u76f8\u5834\u3067\u3042\u308b\u3002\u666f\u6c17\u6e1b\u901f\u3092\u9867\u307f\u306a\u3044\u9ad8\u91d1\u5229\u306b\u3088\u308b\u30a4\u30f3\u30d5\u30ec\u9000\u6cbb\u304c\u594f\u529f\u3057\u30011980\u5e74\u4ee3\u306b\u306f\u5229\u4e0b\u3052\u3092\u5b9f\u884c\u3067\u304d\u308b\u72b6\u6cc1\u306b\u306a\u3063\u3066\u3044\u305f\u3002\u653f\u7b56\u91d1\u5229\u306e\u30c8\u30ec\u30f3\u30c9\u304c\u53cd\u8ee2\u3057\u305f\u306e\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>\u3053\u306e\u91d1\u5229\u4f4e\u4e0b\u3078\u306e\u5927\u8ee2\u63db\u306b\u682a\u5f0f\u5e02\u5834\u306f\u5927\u3044\u306b\u53cd\u5fdc\u3057\u305f\u3002\u682a\u4fa1\u306f1982\u5e74\u306e\u5b89\u5024\u304b\u30891\u5e74\u8db3\u3089\u305a\u306750%\u3082\u4e0a\u6607\u3057\u305f\u3002<\/p>\n<blockquote><p>\u5c02\u9580\u5bb6\u9023\u4e2d\u306f\u300c\u58f2\u3063\u305f\u307b\u3046\u304c\u3044\u3044\u3002\u72c2\u3063\u3066\u3044\u308b\u3002\u6025\u6fc0\u306b\u4e0a\u304c\u308a\u3059\u304e\u3060\u300d\u3068\u8b66\u544a\u3057\u305f\u3002<\/p><\/blockquote>\n<p>\u3057\u304b\u3057\u682a\u4fa1\u306f\u305d\u306e\u307e\u307e\u4e0a\u6607\u3092\u7d9a\u3051\u30011987\u5e74\u306e\u30d6\u30e9\u30c3\u30af\u30de\u30f3\u30c7\u30fc\u307e\u3067\u5b9f\u306b3\u500d\u306e\u4e0a\u3052\u76f8\u5834\u3092\u6f14\u3058\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u5f53\u6642\u306e\u8a73\u7d30\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3067\u53d6\u308a\u4e0a\u3052\u3066\u3044\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/933\">\u30d7\u30e9\u30b6\u5408\u610f\u304b\u3089\u30d6\u30e9\u30c3\u30af\u30de\u30f3\u30c7\u30fc\u307e\u3067\u3092\u632f\u308a\u8fd4\u308b<\/a><\/li>\n<\/ul>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/1980-1990-s-and-p-500-chart.png\" rel=\"attachment wp-att-5053\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5053\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/1980-1990-s-and-p-500-chart.png\" alt=\"1980-1990-s-and-p-500-chart\" width=\"600\" height=\"402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/1980-1990-s-and-p-500-chart.png 600w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/1980-1990-s-and-p-500-chart-300x201.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>\u3053\u306e\u4e0a\u3052\u76f8\u5834\u306f\u7d50\u5c40\u3001\u7d06\u4f59\u66f2\u6298\u3042\u308a\u306a\u304c\u3089\u30822000\u5e74\u306e\u30c9\u30c3\u30c8\u30b3\u30e0\u30d0\u30d6\u30eb\u307e\u3067\u7d9a\u304f\u3053\u3068\u306b\u306a\u308b\u304c\u3001\u305d\u306e\u9803\u306b\u306f\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u5225\u306e\u5e02\u5834\u3092\u63a2\u3057\u3066\u3044\u305f\u3002<\/p>\n<p><strong>2000\u5e74\u4ee3\u306e\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30d0\u30d6\u30eb<\/strong><\/p>\n<p>\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u304c\u6b21\u306b\u76ee\u3092\u4ed8\u3051\u305f\u306e\u306f\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3067\u3042\u308b\u3002\u3064\u307e\u308a\u539f\u6cb9\u3001\u925b\u3001\u7802\u7cd6\u3001\u30b3\u30fc\u30d2\u30fc\u306a\u3069\u3067\u3042\u308b\u3002<\/p>\n<p>\u4e0a\u3067\u8ff0\u3079\u305f\u3088\u3046\u306b\u30011970\u5e74\u4ee3\u306f\u30a4\u30f3\u30d5\u30ec\u306e\u6642\u4ee3\u3067\u3042\u308a\u3001\u4e2d\u6771\u6226\u4e89\u306a\u3069\u306b\u3088\u308b\u77f3\u6cb9\u5371\u6a5f\u3001\u3064\u307e\u308a\u539f\u6cb9\u4fa1\u683c\u306e\u9ad8\u9a30\u304c\u30a4\u30f3\u30d5\u30ec\u306e\u539f\u56e0\u3067\u3082\u3042\u3063\u305f\u3002\u3057\u304b\u30571980\u5e74\u4ee3\u306b\u5165\u3063\u3066\u304b\u3089\u306f\u305d\u308c\u3082\u53ce\u307e\u308a\u3001\u305d\u306e\u5f8c\u306f\u30a4\u30f3\u30d5\u30ec\u7387\u4e0b\u843d\u306e\u6642\u4ee3\u3001\u3064\u307e\u308a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5e02\u5834\u306b\u3068\u3063\u3066\u306f\u4f4e\u8ff7\u306e\u6642\u4ee3\u306b\u5165\u3063\u3066\u3086\u304f\u3002<\/p>\n<p>\u3057\u304b\u3057\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u3001\u4e2d\u56fd\u306a\u3069\u306e\u65b0\u8208\u56fd\u304c\u83ab\u5927\u306a\u4eba\u53e3\u5897\u52a0\u3092\u4f34\u3044\u306a\u304c\u3089\u6210\u9577\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u76ee\u3092\u4ed8\u3051\u305f\u3002\u5c06\u6765\u9271\u7269\u3084\u8fb2\u4f5c\u7269\u306a\u3069\u306e\u9700\u8981\u306f\u6025\u901f\u306b\u5897\u52a0\u3057\u3066\u3086\u304f\u4e00\u65b9\u3067\u3001\u3069\u306e\u5e02\u5834\u3082\u4f9b\u7d66\u304c\u5f15\u304d\u7de0\u307e\u3063\u3066\u3044\u305f\u3002<\/p>\n<p>\u6642\u4ee3\u306f\u30c9\u30c3\u30c8\u30b3\u30e0\u30d0\u30d6\u30eb\u3067\u3042\u308b\u3002\u8ab0\u3082\u304c\u30de\u30a4\u30af\u30ed\u30bd\u30d5\u30c8\u3084\u30a4\u30f3\u30c6\u30eb\u306e\u8a71\u3092\u3057\u3066\u3044\u305f\u3002\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u305d\u3046\u3057\u305f\u30d0\u30d6\u30eb\u306b\u76ee\u3082\u304f\u308c\u305a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5e02\u5834\u306e\u3053\u3068\u3092\u8003\u3048\u3066\u3044\u305f\u3002<\/p>\n<blockquote><p>\u305d\u306e\u9803\u6bce\u9031\u51fa\u6f14\u3057\u3066\u3044\u305fCNBC\u306e\u756a\u7d44\u3067\u3001\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u6295\u8cc7\u306e\u9b45\u529b\u3084\u3001\u6025\u6210\u9577\u3057\u3066\u3044\u308b\u4e2d\u56fd\u7d4c\u6e08\u304c\u539f\u6750\u6599\u3078\u306e\u9700\u8981\u3092\u3044\u304b\u306b\u62bc\u3057\u4e0a\u3052\u308b\u304b\u306b\u3064\u3044\u3066\u8a71\u3092\u59cb\u3081\u305f\u3002\u6848\u306e\u5b9a\u3001\u3053\u3044\u3064\u3001\u982d\u304c\u304a\u304b\u3057\u304f\u306a\u3063\u305f\u3093\u3058\u3083\u306a\u3044\u304b\u3068\u3044\u3046\u773c\u3067\u898b\u3089\u308c\u305f\u3002\u307e\u305f\u3057\u3066\u3082\u3001\u3060\u3002<\/p><\/blockquote>\n<p>\u3057\u304b\u3057\u81ea\u5206\u306e\u5206\u6790\u3092\u5f37\u304f\u4fe1\u3058\u3066\u3044\u305f\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u3001\u81ea\u5206\u3067\u4f5c\u3063\u305f\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u6307\u6570\u306b\u6295\u8cc7\u3092\u3057\u305f\u5f8c\u3001\u4e16\u754c\u4e00\u5468\u306e\u65c5\u306b\u51fa\u304b\u3051\u305f\u3002\u30b7\u30d9\u30ea\u30a2\u3084\u4e2d\u56fd\u3084\u30a2\u30d5\u30ea\u30ab\u3092\u8d70\u308a\u56de\u3063\u305f\u5f8c\u3001\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u304c\u30a2\u30e1\u30ea\u30ab\u306b\u5e30\u3063\u3066\u304d\u305f\u6642\u3001\u682a\u5f0f\u5e02\u5834\u306f\u307e\u3055\u306b\u5f7c\u306e\u4e88\u60f3\u901a\u308a\u306e\u7d50\u679c\u3068\u306a\u3063\u3066\u3044\u305f\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/dot-com-bubble-nasdaq-chart.png\" rel=\"attachment wp-att-5054\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5054\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/dot-com-bubble-nasdaq-chart.png\" alt=\"dot-com-bubble-nasdaq-chart\" width=\"600\" height=\"402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/dot-com-bubble-nasdaq-chart.png 600w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/dot-com-bubble-nasdaq-chart-300x201.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<blockquote><p>\u79c1\u305f\u3061\u304c\u51fa\u304b\u3051\u3066\u3044\u308b\u9593\u306b\u3001\u30c9\u30c3\u30c8\u30b3\u30e0\u30d0\u30d6\u30eb\u306f\u5d29\u58ca\u3057\u3066\u3044\u305f\u3002\u3042\u306e\u82e6\u3057\u307f\u3092\u5473\u308f\u308f\u305a\u306b\u3059\u3093\u3067\u300c\u904b\u304c\u3088\u304b\u3063\u305f\u306d\u300d\u3068\u4eba\u306f\u8a00\u3046\u3002\u79c1\u306f\u52aa\u3081\u3066\u5bdb\u5927\u306b\u632f\u308b\u821e\u3063\u305f\u3002<\/p><\/blockquote>\n<p>\u30d0\u30d6\u30eb\u306e\u6700\u4e2d\u306b\u300c\u3053\u308c\u306f\u30d0\u30d6\u30eb\u3060\u300d\u3068\u8a00\u3063\u3066\u3082\u307b\u3068\u3093\u3069\u306e\u4eba\u306f\u805e\u304d\u5165\u308c\u306a\u3044\u3082\u306e\u3067\u3042\u308b\u3002\u3060\u304b\u3089\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u305d\u3046\u3057\u305f\u5e02\u5834\u306b\u80cc\u3092\u5411\u3051\u305f\u3002\u904b\u304c\u826f\u304b\u3063\u305f\u306e\u3067\u306f\u306a\u3044\u3002\u305d\u3046\u3057\u305f\u5e02\u5834\u3092\u9ed9\u6bba\u3059\u308b\u8ce2\u660e\u3055\u304c\u3042\u3063\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n<p>\u4e00\u65b9\u3067\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306f\u3069\u3046\u306a\u3063\u305f\u304b\uff1f\u3000\u4e2d\u56fd\u306e\u7d4c\u6e08\u6210\u9577\u3084\u4eba\u53e3\u5897\u52a0\u3001\u305d\u3057\u3066\u30ea\u30fc\u30de\u30f3\u30b7\u30e7\u30c3\u30af\u3092\u5f15\u304d\u8d77\u3053\u3057\u305f\u30a2\u30e1\u30ea\u30ab\u306e\u4f4e\u91d1\u5229\u306b\u3088\u3063\u3066\u5927\u76f8\u5834\u3092\u6f14\u3058\u308b\u3053\u3068\u306b\u306a\u308b\u3002\u539f\u6cb9\u4fa1\u683c\u306f10\u5e74\u8db3\u3089\u305a\u306710\u500d\u306b\u306a\u3063\u305f\u3002<\/p>\n<p><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/2000-2010-WTI-crude-oil-chart.png\" rel=\"attachment wp-att-5055\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5055\" src=\"http:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/2000-2010-WTI-crude-oil-chart.png\" alt=\"2000-2010-wti-crude-oil-chart\" width=\"600\" height=\"402\" srcset=\"https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/2000-2010-WTI-crude-oil-chart.png 600w, https:\/\/www.globalmacroresearch.org\/jp\/wp-content\/uploads\/2016\/12\/2000-2010-WTI-crude-oil-chart-300x201.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p><strong>\u7d50\u8ad6<\/strong><\/p>\n<p>\u6295\u8cc7\u306e\u624d\u80fd\u3068\u306f\u4f55\u304b\u3001\u3069\u3046\u3059\u308c\u3070\u6295\u8cc7\u3067\u5132\u3051\u308b\u3053\u3068\u304c\u51fa\u6765\u308b\u306e\u304b\u3068\u805e\u304b\u308c\u308b\u3053\u3068\u304c\u3042\u308b\u3002\u52ff\u8ad6\u3001\u6295\u8cc7\u306b\u306f\u3042\u308b\u7a0b\u5ea6\u306e\u982d\u8133\u3082\u5fc5\u8981\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u4e00\u756a\u91cd\u8981\u306a\u3082\u306e\u306f\u500b\u4eba\u7684\u306b\u306f\u6027\u683c\u3060\u3068\u601d\u3063\u3066\u3044\u308b\u3002<\/p>\n<p>\u8ab0\u3082\u304c\u72fc\u72fd\u58f2\u308a\u3092\u3057\u3066\u3044\u308b\u4e2d\u3067\u3001\u66b4\u843d\u3057\u3066\u3044\u308b\u3082\u306e\u3092\u5272\u5b89\u3060\u3068\u611f\u3058\u3066\u8cb7\u3044\u5411\u304b\u3046\u306e\u306f\u6c17\u529b\u304c\u8981\u308b\u3053\u3068\u3067\u3042\u308b\u3002\u3057\u304b\u3057\u305d\u3053\u306b\u3053\u305d\u5229\u76ca\u306e\u6e90\u6cc9\u304c\u3042\u308b\u3002\u305d\u308c\u3092\u53ef\u80fd\u306b\u3059\u308b\u306e\u304c\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306e\u3088\u3046\u306a\u4ed6\u4eba\u306e\u9006\u3092\u884c\u304f\u6c17\u8cea\u306a\u306e\u3067\u3042\u308b\u3002<\/p>\n<p>\u5f7c\u306e\u305d\u3046\u3057\u305f\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u306f\u3001\u5f7c\u306e\u751f\u304d\u65b9\u306b\u3082\u8868\u308c\u3066\u3044\u308b\u3088\u3046\u306b\u601d\u3048\u308b\u30021980\u5e74\u306b\u30af\u30a9\u30f3\u30bf\u30e0\u30fb\u30d5\u30a1\u30f3\u30c9\u3092\u8f9e\u3081\u3066\u4ee5\u6765\u3001\u5f7c\u306f\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u7a3c\u696d\u3092\u5f15\u9000\u3057\u3001\u81ea\u5206\u306e\u8cc7\u7523\u306e\u307f\u3092\u904b\u7528\u3057\u3066\u3044\u308b\u3002\u30af\u30a9\u30f3\u30bf\u30e0\u30fb\u30d5\u30a1\u30f3\u30c9\u3092\u8f9e\u3081\u305f\u6642\u306e\u3053\u3068\u306b\u3064\u3044\u3066\u306f\u591a\u304f\u3092\u8a9e\u308a\u305f\u304c\u3089\u306a\u3044\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u3060\u304c\u3001\u4e00\u65b9\u3067\u30d1\u30fc\u30c8\u30ca\u30fc\u3060\u3063\u305f\u30bd\u30ed\u30b9\u6c0f\u304c\u5f53\u6642\u306e\u3053\u3068\u3092\u5c11\u3057\u8a9e\u3063\u305f\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u304c\u73fe\u5b58\u3057\u3066\u3044\u308b\u3002<\/p>\n<ul>\n<li><a href=\"http:\/\/www.globalmacroresearch.org\/jp\/archives\/784\">[\u52d5\u753b] \u30b8\u30e7\u30fc\u30b8\u30fb\u30bd\u30ed\u30b9\u304c\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u3092\u8a9e\u308b<\/a><\/li>\n<\/ul>\n<blockquote><p>\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u306f\u79c1\u306e\u3082\u3068\u3067\u50cd\u3044\u3066\u3044\u305f\u3002\u5f7c\u306f\u4e8b\u5b9f\u3001\u7d20\u6674\u3089\u3057\u3044\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u3060\u3063\u305f\u3002\u4ed5\u4e8b\u304c\u9a5a\u304f\u307b\u3069\u306b\u65e9\u304f\u30018\u4eba\u5206\u306e\u4ed5\u4e8b\u30921\u4eba\u3067\u884c\u3063\u305f\u3002\u3060\u304b\u3089\u308f\u308c\u308f\u308c\u306e\u30d1\u30fc\u30c8\u30ca\u30fc\u30b7\u30c3\u30d7\u306f\u5f53\u521d\u3001\u975e\u5e38\u306b\u4e0a\u624b\u304f\u884c\u3063\u305f\u3002\u3057\u304b\u3057\u5f7c\u306f\u3001\u5225\u306e\u3082\u30467\u4eba\u304c\u5f7c\u306e\u96a3\u3067\u50cd\u304f\u3053\u3068\u3092\u62d2\u5426\u3057\u305f\u306e\u3067\u3001\u308f\u308c\u308f\u308c\u306f\u8882\u3092\u5206\u304b\u3064\u3057\u304b\u306a\u304b\u3063\u305f\u3002<\/p><\/blockquote>\n<p>\u300c\u5f7c\u306f\u5225\u306e\u3082\u30467\u4eba\u304c\u5f7c\u306e\u96a3\u3067\u50cd\u304f\u3053\u3068\u3092\u62d2\u5426\u3057\u305f\u306e\u3067\u300d\u306e\u3044\u3046\u7b87\u6240\u304c\u5370\u8c61\u7684\u3067\u3042\u308b\u3002<\/p>\n<p>\u3053\u3053\u304b\u3089\u306f\u60f3\u50cf\u3067\u3057\u304b\u306a\u3044\u304c\u3001\u5f7c\u306f\u6050\u3089\u304f\u3001\u30d5\u30a1\u30f3\u30c9\u304c\u5927\u304d\u304f\u306a\u3063\u3066\u3086\u304f\u3053\u3068\u304c\u5acc\u3060\u3063\u305f\u306e\u3060\u308d\u3046\u3002\u4eca\u56de\u5f15\u7528\u3057\u305f\u5f7c\u306e\u8457\u66f8\u300e<a href=\"http:\/\/amzn.to\/2huoBx9\" target=\"_blank\">\u5546\u54c1\u306e\u6642\u4ee3<\/a>\u300f\u306b\u306f\u3001\u3082\u3057\u304b\u3059\u308b\u3068\u305d\u306e\u6642\u306e\u3053\u3068\u3092\u6697\u55a9\u3057\u305f\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u601d\u308f\u308c\u308b\u7b87\u6240\u304c\u3042\u308b\u3002<\/p>\n<blockquote><p>\u7fa4\u304b\u3089\u96e2\u308c\u308c\u3070\u5fc5\u305a\u7fa4\u304b\u3089\u6279\u5224\u3055\u308c\u3001\u7f75\u5012\u3055\u308c\u308b\u3053\u3068\u306b\u306a\u308b\u306e\u306f\u8eab\u306b\u67d3\u307f\u3066\u3088\u304f\u308f\u304b\u3063\u3066\u3044\u305f\u3002\u300c\u982d\u304c\u304a\u304b\u3057\u3044\u300d\u3068\u8a00\u308f\u308c\u308b\u3053\u3068\u306b\u306a\u308b\u306e\u3060\u3002\u3057\u304b\u3057\u3001\u305d\u308c\u306f\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3080\u3057\u308d\u3088\u3044\u3053\u3068\u3060\u3002<\/p><\/blockquote>\n<p>\u305d\u3057\u3066\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u30af\u30a9\u30f3\u30bf\u30e0\u30fb\u30d5\u30a1\u30f3\u30c9\u3067\u4e00\u7a3c\u304e\u3057\u305f\u5f8c\u3001\u81ea\u7531\u306b\u751f\u304d\u308b\u3053\u3068\u306b\u6c7a\u3081\u305f\u3002<\/p>\n<p>\u30bd\u30ed\u30b9\u6c0f\u3068\u4e00\u7dd2\u306b\u30d5\u30a1\u30f3\u30c9\u3092\u7d9a\u3051\u3066\u3044\u308c\u3070\u3001\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306e\u8cc7\u7523\u306f\u3088\u308a\u5927\u304d\u306a\u3082\u306e\u306b\u306a\u3063\u305f\u304b\u3082\u3057\u308c\u306a\u3044\u3002\u3057\u304b\u3057\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u81ea\u7531\u306a\u4eba\u751f\u3092\u9078\u3093\u3060\u3002\u305d\u308c\u304c\u5f7c\u306b\u3068\u3063\u3066\u53ce\u5165\u3088\u308a\u3082\u512a\u5148\u3055\u308c\u305f\u306e\u3067\u3042\u308b\u3002<\/p>\n<p>\u305d\u3093\u306a\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u81ea\u5206\u306e\u982d\u3067\u8003\u3048\u308b\u3053\u3068\u306e\u91cd\u8981\u3055\u3092\u5f37\u8abf\u3059\u308b\u3002<\/p>\n<blockquote><p>\u591a\u304f\u306e\u6295\u8cc7\u5bb6\u306f\u30a2\u30a4\u30c7\u30a2\u3060\u3051\u3092\u76d7\u307f\u805e\u304d\u3057\u3066\u305d\u308c\u3067\u5132\u304b\u308b\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u304c\u3001\u3068\u3093\u3067\u3082\u306a\u3044\u9593\u9055\u3044\u3067\u3059\u3002\u4f55\u306b\u3064\u3044\u3066\u3082\u540c\u3058\u3060\u3068\u601d\u3044\u307e\u3059\u304c\u3001\u52c9\u5f37\u3057\u306a\u3051\u308c\u3070\u6210\u529f\u306f\u306a\u3044\u3067\u3057\u3087\u3046\u3002\u81ea\u5206\u306e\u91d1\u3092\u6295\u8cc7\u3057\u3088\u3046\u3068\u3044\u3046\u306e\u306b\u3001\u751f\u534a\u53ef\u306a\u3053\u3068\u3067\u306f\u8a71\u306b\u306a\u3089\u306a\u3044\u306e\u306f\u5f53\u7136\u3067\u3057\u3087\u3046\u3002<\/p><\/blockquote>\n<p>\u91d1\u878d\u696d\u754c\u306b\u5c45\u308c\u3070\u3001\u4f55\u304c\u4e0a\u304c\u308b\u306e\u304b\u3001\u4f55\u304c\u4e0b\u304c\u308b\u306e\u304b\u3092\u805e\u304d\u305f\u304c\u308b\u4eba\u3005\u306b\u4f55\u5ea6\u3082\u51fa\u304f\u308f\u3059\u3082\u306e\u3067\u3042\u308b\u3002\u305d\u3057\u3066\u7d4c\u9a13\u5247\u3067\u8a00\u3048\u3070\u3001\u305d\u3046\u3044\u3046\u4eba\u3005\u306f\u4f55\u3092\u8ab0\u304b\u3089\u898b\u805e\u304d\u3057\u3088\u3046\u3068\u4f8b\u5916\u306a\u304f\u640d\u3092\u3059\u308b\u904b\u547d\u306b\u3042\u308b\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u81ea\u5206\u306e\u982d\u3067\u8003\u3048\u306a\u3044\u304b\u3089\u3067\u3042\u308b\u3002<\/p>\n<p>\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u304c\u52c9\u5f37\u3092\u3057\u308d\u3068\u8a00\u3046\u6642\u3001\u305d\u306e\u8a00\u8449\u306b\u306f\u975e\u5e38\u306a\u91cd\u307f\u304c\u3042\u308b\u3002\u4f55\u6545\u306a\u3089\u3070\u3001\u5f7c\u307b\u3069\u4e16\u754c\u4e2d\u306e\u5e02\u5834\u3092\u5165\u5ff5\u306b\u5206\u6790\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u306f\u3044\u306a\u3044\u304b\u3089\u3067\u3042\u308b\u3002\u300c\u30a4\u30f3\u30c9\u30cd\u30b7\u30a2\u306e\u30d1\u30fc\u30e0\u6cb9\u304c\u3069\u3046\u306a\u3063\u3066\u3044\u308b\u304b\u3092\u77e5\u3089\u305a\u306b\u30a2\u30e1\u30ea\u30ab\u306e\u88fd\u9244\u682a\u306b\u3069\u3046\u3084\u3063\u3066\u6295\u8cc7\u3067\u304d\u308b\u3060\u308d\u3046\u304b\uff1f\u300d\u3002<\/p>\n<p>\u6295\u8cc7\u3068\u306f\u305d\u308c\u307b\u3069\u306e\u52aa\u529b\u304c\u5fc5\u8981\u306a\u3082\u306e\u306a\u306e\u3067\u3042\u308b\u3002\u5e38\u306b\u305d\u306e\u3053\u3068\u3092\u5fd8\u308c\u305a\u306b\u76f8\u5834\u306b\u5411\u304d\u5408\u3046\u3068\u304d\u3001\u6295\u8cc7\u5bb6\u306f\u3088\u3046\u3084\u304f\u30b9\u30bf\u30fc\u30c8\u30e9\u30a4\u30f3\u306b\u7acb\u3064\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/p>\n<p><a href=\"https:\/\/www.amazon.co.jp\/%E5%A4%A7%E6%8A%95%E8%B3%87%E5%AE%B6%E3%82%B8%E3%83%A0-%E3%83%AD%E3%82%B8%E3%83%A3%E3%83%BC%E3%82%BA%E3%81%8C%E8%AA%9E%E3%82%8B%E5%95%86%E5%93%81%E3%81%AE%E6%99%82%E4%BB%A3-%E3%82%B8%E3%83%A0-%E3%83%AD%E3%82%B8%E3%83%A3%E3%83%BC%E3%82%BA\/dp\/4532351561\/ref=as_li_ss_il?ie=UTF8&amp;qid=1481978527&amp;sr=8-1&amp;keywords=%E5%95%86%E5%93%81%E3%81%AE%E6%99%82%E4%BB%A3&amp;linkCode=li2&amp;tag=globalmacrore-22&amp;linkId=4ff6fd79ff152fbeb78034906bad3d1e\" target=\"_blank\"><img decoding=\"async\" src=\"\/\/ws-fe.amazon-adsystem.com\/widgets\/q?_encoding=UTF8&amp;ASIN=4532351561&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\" style=\"border: none !important; margin: 0px !important;\" src=\"https:\/\/ir-jp.amazon-adsystem.com\/e\/ir?t=globalmacrore-22&amp;l=li2&amp;o=9&amp;a=4532351561\" alt=\"\" width=\"1\" height=\"1\" border=\"0\" \/><br \/>\n<a href=\"http:\/\/amzn.to\/2huoBx9\" target=\"_blank\">\u5927\u6295\u8cc7\u5bb6\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u304c\u8a9e\u308b\u5546\u54c1\u306e\u6642\u4ee3<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u3053\u308c\u307e\u3067\u4f55\u5ea6\u3082\u53d6\u308a\u4e0a\u3052\u3066\u304d\u305f\u8457\u540d\u6295\u8cc7\u5bb6\u306e\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306f\u3001\u5468\u77e5\u306e\u901a\u308a\u9006\u5f35\u308a\u6295\u8cc7\u5bb6\u3067\u3042\u308b\u3002\u30d6\u30fc\u30e0\u306b\u306a\u3063\u3066\u3044\u308b\u5e02\u5834\u306b\u306f\u76ee\u3082\u304f\u308c\u305a\u3001\u6295\u8cc7\u5bb6\u306b\u898b\u5411\u304d\u3082\u3055\u308c\u306a\u3044\u5e02\u5834\u3001\u3042\u308b\u3044\u306f\u53e9\u304d\u58f2\u3089\u308c\u3066\u3044\u308b\u5e02\u5834\u306b\u6295\u8cc7\u3092\u3057\u7d9a\u3051\u308b\u3002 \u5f7c\u306f1973 &hellip; <a href=\"https:\/\/www.globalmacroresearch.org\/jp\/archives\/5052\" class=\"more-link\">\u7d9a\u304d\u3092\u8aad\u3080 <span class=\"screen-reader-text\">\u30b8\u30e0\u30fb\u30ed\u30b8\u30e3\u30fc\u30ba\u6c0f\u306e\u9006\u5f35\u308a\u6295\u8cc7\u306e\u6b74\u53f2\u30921980\u5e74\u304b\u3089\u632f\u308a\u8fd4\u308b<\/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":[59,111,57,109,71],"tags":[29],"class_list":["post-5052","post","type-post","status-publish","format-standard","hentry","category-us-stock-market","category-stock-markets","category-commodity-markets","category-crude-oil","category-history-of-markets","tag-jim-rogers"],"_links":{"self":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/5052","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=5052"}],"version-history":[{"count":13,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/5052\/revisions"}],"predecessor-version":[{"id":5068,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/posts\/5052\/revisions\/5068"}],"wp:attachment":[{"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/media?parent=5052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/categories?post=5052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalmacroresearch.org\/jp\/wp-json\/wp\/v2\/tags?post=5052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}