Explore 202 discussions
ãããŸããŠããã§ãšãããããŸãïŒ ã¢ãŒãã³ã°ã³ã¡ã³ãããæ¹ããŠãé±2åã®æè³å®¶ã³ãŒããŒãšããŠãç§ãã¡ã泚ç®ããŠãããŒã±ãããéæã«ã€ããŠè©±ããŠãããããšæããŸããä»å¹Žããããããé¡ãããŸãã âââââââââââ 幎æãæ©ã ã«ç±³åœéå©ã¯å€§ããäžæããŠãããä»ããå©äžããç¹ã蟌ã¿ã«åãã£ãŠããããªå±éãšãªã£ãŠãããæ°ã¥ãã°é·æéå©ã1.64%ãšããæ°Žæºã«ãŸã§æ»ã£ããæ ªäŸ¡å«ããŠã³ããåã®æ°Žæºããšã£ãã«å埩ããŠããäžã§ãéå©ã ããã³ããåãããã£ãšäœãæ°Žæºã§ãã£ããã12æã®FOMCã§ãéå©ã¯åããªããªã©ãã®ã®ã£ãããåºããäžãããããéå©ãåãçµµãèŠå§ãããããªåããšãªã£ãŠããŠããã éå©ã®çµ¶å¯Ÿå€ã¯åŒãç¶ããŸã äœãäžã«ããããŸã§ãå®éã®ã€ãã³ããè¿ã¥ããŠæ¥ãªããšåå¿ããªãããšãå€ãã£ãã®ã§ãäžè¿°ã®éãä»ããæã¯ãããã®ã®ããããã£ãŠäœããããã«ã±ã§äžæããããšã«ã¯éåæã¯ãªããä»å¹Žã®ããŒã±ããã®æ³šç®ç¹ã¯ãã¢ã¡ãªã«ã®ã€ã³ãã¬ãã©ããŸã§ç¶ããè³éäžæãéçšè æ°å«ããŠãã©ãããçå°ãèŠãããã§ãããã ãã å人çã«ã¯ãæ¥æ¬ã«ããã®æµããæ³¢åãããã©ããã«æ³šç®ããŠãããå æã®24æ¥ã«çºè¡šããã11æã®æ¶è²»è ç©äŸ¡ææ°ã¯ãå€åã®å€§ããçé®®é£åãé€ãç·åææ°ã100.1ãšå幎åæã«æ¯ã¹ãŠ0.5%äžæãšã1幎æ¯ãã®é«æ°Žæºã ã£ãã ïŒâç·åççºè¡šè³æããæç²ãhttps://www.e-stat.go
æ¬æ¥ã®ã³ã¡ã³ããä»å¹ŽæåŸã®ã³ã¡ã³ããšãªããŸãã ä»å¹Ž4æããç§ãšæè€ãæ¯æããã«æ ªã»çºæ¿ã»ä»®æ³é貚çã®æè³å®¶ã®çæ§ã®ããã«ãªãæ å ±ãæäŸããŠããŸããããæ¥å¹Žããã¯å°ãé »åºŠãèœãšããããæ·±ãããŒã±ããã®åãã ãã«åãããªã圢ã§æ°ããªã³ã³ãã³ãããŠãŒã¶ãŒã»é²èŠ§è ã®çæ§ã«å±ããããšèããŠãããŸãã ãããŸã§ã®ãä»ãåããèª ã«ããããšãããããŸããã ãããŠæ¥å¹Žããã®åã¹ã¿ãŒããã楜ãã¿ã«ã è¯ãã幎ãïŒ
æšå€ã®ç±³åœæ ªåŒåžå Žã¯ãªãã¯ãã³æ ªã®äœæ¯æ§ã«é¢ããããŒã¿çºè¡šãåããäºæ¥é£ç¶äžæãä»é±ã¯ç§ãçŽ äººã®èŠ³ç¹ã§å ±æããããè±ã¹ã³ããã©ã³ããšåã¢ããªã«ã®èª¿æ»ã§ãªãã¯ãã³æ ªã®å ¥é¢ãªã¹ã¯ããã«ã¿ããçŽ80ïŒ äœãããšãå€æãããããããŸã§åææ¡ä»¶ãæ¿ããåããŠããã®ã«éå©ãã»ãšãã©åããŠãªãããšãããªãæ°ã«ãªããã幎æ«ãŸã§ã«ãã®åæ»æãç¶ãå¯èœæ§ãé«ãã ããã æ¬æ¥ã¯æšå€ã«å ±éããããã€ãã³å€§çµ±é ã®åŠçããŒã³ã«å¯Ÿãã倧統é åœä»€ãæ·±å ããŠã¿ãããšæããŸãã ãã€ãã³å€§çµ±é ã¯ã³ããã·ã§ãã¯åŸã«å°å ¥ãããåŠçããŒã³ã®è¿æžã»å©æãå é€æªçœ®ãããã«ïŒã«æ延é·ãã1ææ«ã«æéãè¿ããã¯ãã ã£ãã¢ã©ããªã¢ã ã5æ1æ¥ãŸã§å»¶ã°ãããã 足å ã®ç±³åœã®é«ã€ã³ãã¬ç¶æ³ãäœãåºããã®ã¯ãèšããŸã§ããªãå代æªèã®éèç·©åãšãåæã®å代æªèã®è²¡æ¿æ¿çïŒïŒã°ããŸãïŒãåŸè ã®ã°ããŸã以äžã®ãããªåœ¢ã§å®æœãããŠããã * çŸéçµŠä» * ç¹å¥å€±æ¥æåœ * äœå® ã®å·®æŒçŠæ¢ä»€ãç«ã¡éãçŠæ¢ä»€ * äŒæ¥åãã®åè£å©éå¶åºŠ äžèšãšã¯å¥ã«ã瀟äŒåé¡åããŠããåŠçããŒã³ã®è¿æžã»å©æãã®å é€ïŒïŒã¢ã©ããªã¢ã ïŒãå°å ¥ãããã åŠçããŒã³ã®æ®é«ã¯å¹Žã ã«å¢ããçŸåšã¯çŽ1.7å ãã«ïŒïŒ125å åïŒãŸã§èšåŒµããŠããïŒäžå³ïŒã2000幎ã¯ããã®æ°Žæºã®çŽ6.6åã®èŠæš¡ã«èšããã§ããã ãã®æ®é«ã®å¢å ã®èæ¯ã«ã倧åŠè²»çšã®ã€ã³ãã¬ããããä»åã®40幎ã¶ãã®ã€ã³ã
æšæ©ã®ç±³åœåžå Žã¯æ¥äžæãéå©ãäžæããå žåçãªãªã¹ã¯ãªã³ãæ¥ã«ãã£ãŠæ°åããããããŒã±ãããç¶ããŠããããã€ãã³å€§çµ±é ãçµæžå°éã«å¯ŸããŠåŠå®ããããšãããã«ã±ã§ããããããŒã±ããã¯ãªãã¯ãã³ãã®ãã®ããããããã«èµ·å ããæ¿çã«æžå¿µããŠããããã§ããã欧å·ã®ããã«ãŸãããŠãããã¯ããŠã³ãšãªããªãã®ã§ããã°ãå®å¿ããŠè²·ãããšãªã£ãã®ããšæãããã ãŸãããããçžå Žã«æ¯æ¥çå£ã«å¯ãæ·»ãå¿ èŠã¯ãªãã®ã§ãç¹°ãè¿ããšãªããå°ãé·ãèŠç¹ã§ãã®ãèŠãŠããã°ãããããããŒãºã§ãéå°ã«ããã¡ãªã³ãã察çã¯ãªã¹ã¯ãšããŠããããç¹ã«éèæ¿çãå ã«æ£åžžåãããã¹ãåããŠããã®ã ãããæ¿çãããã«æ²¿ã£ãçµæžéèŠãªãã®ã«ããªããšã³ãã察çã«ãã£ãŠã³ãã以äžã®åŒå®³ãåºãããšããããšãããã¯ããã£ãŠãããããšããããšãç±³åœã§ã¯ç¢ºèªã§ããããšãæšæ¥ã®åç©«ãªã®ãããããªãããã£ãšããåãä¿¡é Œãæ¥æ¬ã«ãããã®ãïŒãšèšããããšãæ¯æçç¶æ³ã§æ¿çãå€ããããã§ããããéèæ¿çãå ã ãããããšã¯é£ããããæ¥æ¬ã§ã¯ã€ã³ãã¬èªäœããŸã ã»ãšãã©èµ·ããŠããªãã®ã§ãã®å¿ èŠæ§ãããªãããé»ç°ãããéžæè¢ãå€ããªããé£ããå±éãç¶ãããã ã 話å€ãã£ãŠãããäžéããèå³ã倱ããã€ã€äžåœã®äžåç£åžæ³ã ããã©ããäžåœæ¿åºã¯11æåŸåããäžåç£æ¥çãžã®åŒãç· ãäžèŸºåããç·©åã®æ¹åã«èµãåãã ããŠããæš¡æ§ããããŸã§äžæ¡çŽ ç·ïŒã¹ãªãŒã¬ããã©ã€ã³ïŒãšåŒ
æšå€ã®ç±³åœæ ªåŒåžå Žã¯3å¶æ¥æ¥é£ç¶ã®äžèœããã¹ããã¯ã¯2ãæã¶ãã«100æ¥ç§»åå¹³åç·ãäžåããäžå°åäžå¿ã®ã©ãã»ã«2000ã8æ以æ¥ã®äœæ°Žæºããªãã¯ãã³æ ªææè æ°å¢ãããŠã§ã¹ãããŒãžãã¢å·ãã³ãã³è°å¡ã®äžæ¯æã§æ°äž»å ã®å€§åæ³åºæ³æ¡ãä»å¹Žäžã«è°äŒãééããèŠèŸŒã¿ããªããªã£ãããšã§è²·ããå ¥ãã¥ããå±éãšãªã£ãã 12æã«å ¥ã£ãŠããå人çã«ä¹ ãã¶ãã«æ¥æ¬æ ªã«å¯Ÿããæè³ãå¢ãããŠãããçç±ã¯ä»¥äžã®éãïŒ * å æ¥å ±æããæ¥ç±³ã®çžå¯Ÿçããªã¥ãšãŒã·ã§ã³ã®æŽå²çäœæ°Žæº * äœã€ã³ãã¬ã®ãããã§å€§èŠæš¡ã®è²¡æ¿æ¿çãæã¡ããã * å¢çšãšãããã¬ãã£ãèŠçŽ ãæè¿è©±é¡ãšãªã£ãŠãããæ¥æ¬æ ªã倧ãã売ã蟌ããæè³å®¶å±€ãéå®ç ãã®äžã§ã泚ç®ããŠããã®ãã誰ã觊ããããªãæ è¡ã»èªç©ºã»ã¬ãžã£ãŒé¢é£ã åã¢ããªã«ã¯æžåœã«ãªãã¯ãã³æ ªã®äœæ¯æ§ã蚎ããŠããããã³ããPTSDçç¶ãšãªã£ãŠããååœã¯çŸåšãã®å ±åã«èãè³ãæã£ãŠããªããç§ã®åéããããããªããã1ãæçµã£ããšããã§WHOãèªèããŠãããªãã¯ãã³æ ªã«ããæ»è ããã£ãäžäººã ç§ã¯äœãããããŒã¿ãéèŠãã人éãªã®ã§ããã®ããŒã¿ãã¿ãéããåã¢ã®å»çé¢ä¿è ãæ¯æ§ã«ã€ããŠä»°ã£ãŠããå 容ããã®éãã ãšæãããã å®éã«åã¢ã®ææè ãšæ»è æ°ã®æšç§»ãã¿ããšããããŸã§ã®3åã®ææè å¢ã®å±é¢ã«ãããŠæ»è æ°ãçŽ1ãæåŸã«æ¥ã«äžæãææè æ°ãããŒã¯ãæã€ã¿ã€ãã³ã°ïŒèµ€ãç·ïŒã§æ»è æ°
éææ¥ã®ç±³åœåžå Žã¯ãããŠãS&Päžå¿ã«äžèœããã®åæ¥ã®NASDAQäžå¿ã®ã°ããŒã¹æ ªäžèœãã亀代ã§å£²ãããããšãšãªã£ããããŒããªã³ã°å éãšå©äžãã®ååã芳枬ã®è©±é¡ããåã³ãªãã¯ãã³æ ªã®ãžã®æžå¿µãå°é ããæ··ä¹±ãšãããããã¯ããã¯ã売ãçç±ãããã°äœã§ããããããªç¶æ ãšãªã£ãŠãããçµæçã«éèåŒãç· ãã®å²ã«ã¯éå©ã¯ããã«äœäžããããšãšãªããéèæ ªã売ãããããšãšãªã£ãã çæçã«ã¯æŽåæ§ã®åããªãåããšãªã£ãŠããããéåžžã«èªã¿ã¥ããå±éãšãªã£ãŠãããããªãã¯ãã³æ ªãçç±ã«äžèœããã®ã§ããã°é¢é£éæã¯å床æŸããã£ã³ã¹ã ãšæã£ãŠããããéå©ãé ããæ©ããäžããã®ã§ããã°éèæ ªãä¿æããŠããã°ãããšæã£ãŠããããã ãããŸããŸãšããªåãã®çžå Žã§ããªãã®ã§è²¡åžã«äœè£ã¯æ®ããŠããããã2é±é以äžåã®ãªãã¯ãã³éšåæãŸã§äžããããããå²ãæ°Žæºã«ãªããŸã§ã¯ãæ蚺買ãçšåºŠã§ãããããã ããæ¿ããªã¹ã¯ãããããªãããããã«ãªãŒãã®JHRãªã©ãããäžæ®µäžãããªãé·æç®ç·ã§è²·ã£ãŠã¿ãŠãããããšèããŠããããªãã¯ãã³éšåããã幎åæ¥å®å€ã«ãŸã§äžãã£ãŠããŠãããããããã«åŸ©æŽ»ã®æåŸ å€ããªããªãã®ã§ããã°è²·ã£ãŠã¿ãããšæã£ãŠãããããã«ã¯ã³ããåŸã®äžçãçã£ãŠäžåç£ãã¡ã³ãçã«ããè²·åã®å¯èœæ§ã ã£ãŠããåŸããšæã£ãŠããããã¹ãŠã¯å€æ®µæ¬¡ç¬¬ã ãå人çã«ã¯ãªãã£ã¹ãããé¢çœããšæã£ãŠãããä»å¹Žã®åé éå©åãã¯ããã£ãã®0
æšæ©ã®ç±³åœåžå Žã¯ãå šäœçã«äžèœããšãã«NASDAQãå€§å¹ äžèœãšãªã£ããFRBãããŒããªã³ã°ååãã決å®ããããŒããªã³ã°çµäºåŸã®å©äžããæèãããŠããªã¥ãšãŒã·ã§ã³ã®çž®å°ã«å«æ°ãããããå±éãšãªã£ããFRBãå ·äœçãªã¢ã¯ã·ã§ã³ãããŠãåé¡ãªããããªããžã·ã§ã³ãèããŠã¯ãããã®ã®ãå®éã«ã¢ã¯ã·ã§ã³ãããšã¯å人çã«ã¯æã£ãŠãªãã£ãã®ã§ã¡ãã£ãšé©ããããã£ãšããã®åŸã®æ ªäŸ¡ã®å±éã®æ¹ãé©ãã§ããããåæ¥ã®åå¿ã¯çŽ çŽã«å€ãããšæãã åŒãç· ããç¹ã蟌ãŸãããšããã«ã¯ã»ãšãã©äžãã£ãŠãªããããªæ°Žæºã§ãããäžéææããã®è±åŽãšããŠè²·ãããåæ¥ã®åå¿ã¯æå€ã§ãã£ããããããã«æšæ©ã¯ãã£ãããšé«ããªã¥ãšãŒã·ã§ã³æ ªã売ããéèæ ªãè²·ãããå±éãšãªã£ãã1æ¥é ããŠããããå°ãç解ããããå±éãšãªã£ãŠããã äžæ¹ã§åµåžåžå Žã¯ã»ãšãã©åããŠããªããéå©ãçµå±ã¯ã»ãšãã©äžãã£ãŠããããå é«èŠ³ã¯ããã«ããçŸæç¹ã§ã¯äœéå©ã§ãšã©ãŸã£ãŠããããšã¯æ ªåŒåžå Žã«ãšã£ãŠãäžæ¯ãã«ãªãããããŸãéã«ã€ããŠãçºè¡šåŸã¯äžããŠãããã®ã®æšæ©ã¯äŸ¡æ Œãæ»ããŠãããåŒãç· ããå©äžãã®åœ±é¿ã¯ä»ã®ãšãããªãããããã³ã€ã³ãåæ§ã ãšããããšã§ãæ¿ççºè¡šããåžå Žã®åå¿ã«è³ããŸã§ããŸããã¿åããªãã£ãäžé±éã§ãã£ããã幞ãäžãã£ãããã§ããªããããšã¯æšæ©ã®ããã«ã°ããŒã¹ãšããããããªã¥ãŒæ ªãéèæ ªãäžããããšã«æåŸ ãšãã£ããšãããããå°ãæéããã£
æ¬æ¥ã¯ç«ææ¥ã®ã³ã¡ã³ãã«æžããFOMCåã®åé ç®ã®çµæã»çºè¡šã«ã€ããŠè§£èª¬ããããšæããŸãïŒ ãåèãŸã§ç«ææ¥ã«æžããã³ã¡ã³ãã¯Â ãã¡ã ã§ãã ããŒããªã³ã°ãïŒïŒ å€ãã®åžå Žåå è ã®äºæ³ãããŒã¹ã®åå¢ã ã£ãã®ã§ãã®éãã®çµæãšãªã£ãããããã£ãæå³ã§ ãµãã©ã€ãºã¯ãªã ãæ¯æ150åãã«ã®æžé¡ã300åãã«ã«å¢ããã2022幎第äžååæã«çµäºããèŠèŸŒã¿ã次ã«çŽ¹ä»ãããããããããã§æ³å®ä»¥äžã®å©äžãåæ°ã瀺ããã®ã«å¯Ÿãã åžå Žã®å©äžãç¹ã蟌ã¿ããŸã é²ãã§ãããæ¶åã«ããäžæ¥ãäºæ¥ãããæéããããã ã ç«ææ¥ã«çŽ¹ä»ããç¿æ¥éå©ã®ã«ãŒããåãããã9æéæã§2åïŒ0.5ïŒ ã«ïŒãšãªãã12æéæã3åïŒ0.75ïŒ ã«ïŒã«è¿ã¥ããã ããããããããïŒïŒ ããŒããªã³ã°ã®å¢é¡ã«å¯Ÿãã ãããããããã¯å®ã¯ãµãã©ã€ãºã§ãã£ã ã2022幎ã«é¢ããŠã¯å ã 1åã®å©äžãã ã£ã芳枬ã3åã«å¢å ããç«ææ¥ã«çŽ¹ä»ããã2022幎ã«2å以äžã2023幎ã«1ïŒ åŒ·ãã®ãµãã©ã€ãºãšãªãæ°Žæºãäžåãçµæãšãªã£ãã2022幎ã®éå©äºæž¬ã®äžå€®å€ã0.3ïŒ â0.9ïŒ ã2023幎ã0.6ïŒ â1.6ïŒ ã«äžããã è¿ä»£èŠãªããããªæ¥æ¿ãªã·ãããè¡šããã äžå³ã«ååã®ããããããããèããä»åã®ãæ¿ãè¡šããŠãããã2023幎åã³2024幎ã®åèªã®äºæ³å€ã®èããå€åãäžç®çç¶ã 2024幎ã«é¢ããŠã1幎åã«ãå©äžããªãïŒããšèšã£ãŠ
ç±³åœæ ªåŒåžå Žã¯äžèœãæšæ©çºè¡šããã11æã®åžå£²ç©äŸ¡ææ°ã¯åææ¯0.8ïŒ äžæãå幎åææ¯9.6ïŒ äžæãšãåžå Žäºæ³ã§ããåææ¯0.5%äžæãå幎åææ¯9.2%ãè¶ ãããã®ã§ãåžå£²ææ°ããé è¡ããŠCPIã«åæ ãããŠããããšãèãããšåœé¢ã®ã€ã³ãã¬ã¯ãã£ã±ãäºæ³ãã匷ãïŒã£ãŠããšã§ãæšæ©ã¯FOMCæžå¿µãšããããšã§å£²ãããã ã©ã®ã¿ã¡ä»æ©ã«ã¯åºãŠãããããªã®ã§çŽåã®åãã«ããŸãæå³ã¯ãªãã®ã ããå€å°èŠææãæã£ã圢ã§ã€ãã³ããè¿ããã»ããFOMCåŸã®åãã¯ãã€ã«ãã«ãªããããããããŠããããã§ã¯ããããFOMCèŠæã«ãã£ãŠéå©ã¯äžæããïŒãšãã£ãŠããããã§ã¯ãããïŒãæšæ¥ã¯æ ªåŒåžå Žã®æžå¿µãšåµåžãä¹ ãã¶ãã«äžèŽããåããèŠããææ°ã¯äžèœããäžã§ãéèæ ªã¯éè¡é«ãããŠããããããŸã§èšãç¶ããŠããéèæ ªãçµã¿èŸŒãã ããžã·ã§ã³ãšãããã®ãã¯ãŒã¯ããŠããæ¥ã§ãã£ããããããæå³ã§ã¯æšæ©ã®åžå Žã¯ãFOMCã§äœãããã¢ã¯ã·ã§ã³ããã£ãæã®ããŒã±ãããã©ãåããã®å°ããªãã¹ãããšèšããŠäžå¿ã®æãããã¯åŸããããšãã£ããšããã ããšã¯FOMCã§åžå Žãäžãã£ããšãã«äœãè²·ãã¹ããã€ã¡ãŒãžããŠãããããã ããæ¡å€ã·ã³ãã«ã«åå®ã¡ãªããã®å€§ããäŒç€Ÿã®æ ªãã¡ãã£ãšè²·ã£ãŠã¿ããšããã®ããããããããªãã å šã話ãå€ããããäžåç£äŒç€Ÿã®ã¬ãŒãµã ãã»ãã®å°ãã ãèŠå§ããŠãããæè¿åµæ¥è ãéé£ããæ ªåŒãèšç«ããäžè¬ç€Ÿå£æ³äººã«
æšå€ã®ç±³åœæ ªåŒåžå Žã¯ãªãã¯ãã³æ ªã«ããããã¯ããŠã³æžå¿µãFOMCåã®ããžã·ã§ã³èª¿æŽãããã¹ããã¯ãäžå¿ã«äžèœãéå©ã®äœäžã倧ãããé·æåµãçŽ6ïœ7bpsãã€äžãã£ããã¿ããªå€§å¥œããªã¢ããã«ïŒAAPLïŒã¯å¯ãä»ããäžç¬ã»ãŒ3å ãã«ã®æ䟡ç·é¡ãéæããããããããæ¥èœãäžæ¥ã®çµããã«2ïŒ åŒ·äžèœããã«ææ°ãäžããããããã³ã€ã³ãçŽ3ãæã¶ãã«200æ¥ç§»åå¹³åç·ãŸã§äžèœã æ¬æ¥ã¯å€§æ³šç®ã®FOMCåã«ãåžå Žã泚ç®ããŠãããã¡ã¯ã¿ãŒãèŠãŠãããããšæããŸãã åžå Žã®æ³šç®ã¯å€§ãããäºã€ã®çºè¡šã«éãŸã£ãŠããïŒ * ããŒããªã³ã°ïŒè³ç£è³Œå ¥ã®æ®µéçæžé¡ïŒããŒã¹ã®å€åã®æç¡ãšã * å°æ¥ã®æ¿çéå©ãå ãåèªã®ããããããã ãã®æ¬¡ã« FOMCã¡ã³ããŒã®ã€ã³ãã¬ãGDPäºæž¬ ã®ã¢ããããŒãã泚ç®ãããŠããã èšè äŒèŠã§Â ããŠãšã«è°é·ã®çºèšãåå察æ¯ã©ãã»ã©ã¿ã«æŽŸã·ããããŠããã ãåžå Žã«å€§ãã圱é¿ãäžããã ããã ãããããå°ãæ·±å ããŠãããŸãããã ããŒããªã³ã°ãã©ãªãããããïŒïŒ ååã®FOMCã§ããŒããªã³ã°ãçºè¡šãããéã æ¯æ150åãã«ã®æžé¡ã«èšå®ããã çŽ8ã«æ ïŒæ¯æè³Œå ¥éé¡ã®1200åãã«ïŒ150åïŒ8ã«æïŒã§çµäºããèŠèŸŒã¿ã§ãã£ããä»åã®FOMCã«ãŠåžå Žã®æ³šç®ã¯ ãã®æžé¡ã®ããŒã¹ãåå¢ããããã©ãã ã«éãŸã£ãŠããã ããŒããªã³ã°ã®è°è«ã¯äžè¬çã«åžå Žããã®æµåæ§åŒãäžããæå³ãããã å©
éææ¥ã«11æã®ç±³åœCPIãçºè¡šããããå幎åææ¯+6.8%ãšåžå Žäºæ³éãã®çµæã§ãã£ãã10æã®+6.2%ããå éããçŽ40幎ã¶ãã®å€§ããªäŒžã³ãšãªã£ãŠããããåžå Žäºæ³ãšå€ãããªãã£ãããšãããä»çš®æ§ããFOMCã«åœ±é¿ãäžããææšã®å²ã«ã¯éææ¥ã®ç±³åœåžå Žã¯ããã»ã©å€§ããã¯CPIã«åå¿ããªãã£ãã ããŒã±ããã®åãæ¢ãæ¹ãšããŠã¯ãFRBãããç©æ¥µçã«ã€ã³ãã¬ãæãã«ããã¢ã¯ã·ã§ã³ãããçµæã§ã¯ãªãã£ããšã®ããšã®ããã ãéå©ã¯ã»ãŒå€ãããããã®2é±éã§ä¹±é«äžããŠããããããã§ãéå©ã¯ãŸã äžãã£ããŸãŸæ»ããã£ãŠã¯ãããããã®äžã§CPIçºè¡šåŸããã©ããïœãã埮æžãšããç¶æ³ã§ãããããä»é±æ°Žææ¥ã®FOMCã§ã¯ããŠãšã«è°é·ãè¿œå çãªéèåŒãç· ãããããšã¯å šãæã£ãŠããªããããªæ°Žæºãšããããå€å°ã®ã³ãã¥ãã±ãŒã·ã§ã³ã®èª¿æŽã¯ç¹ã蟌ã¿æžãšããããšã ãããã æ ªåŒåžå Žãäžæãããç©æ¥µçãªéèåŒãç· ããå°ãªããšãæ°Žææ¥ã«ã¯ãªããšããããšã§ããã°ãå®å¿æããè²·ãã®ç¶ç¶ã«ç¹ãã£ãã®ã ãããS&Pã¯æé«å€ãããã«æŽæ°ããçµæãšãªã£ããæ¥æ¬æ ªãé±ã®åŸåã«å©é£ãã®å£²ããèŠææããã®å£²ããåºãŠããããšã«æ¯ã¹ããšãçžå€ãããéåžžã«çŽ çŽãšãããããžãã£ããªããŒã±ããã§ããã æ°Žææ¥ã®FOMCããããã幎æ«ãŸã§ã®æåŸã«ã€ãã³ãã§ãããããããã§ã¯äœããªããšããããšãã³ã³ã»ã³ãµã¹ã«ãªãã€ã€ããã®ã§ããã°ããã¯ãéå©äžæãèµ·
æšæ¥ã®ç±³åœåžå Žã¯ãããŠã¯ãã©ããã ã£ãããNASDAQãäžèœãé«ããªã¥ãšãŒã·ã§ã³æ ªãäžå¿ã«äžèœããŠããããšããããã¯ãä»æ©ã®CPIã®ååãæ¥é±ã®FOMCã®åããèŠæããå§ããŠããæš¡æ§ããã£ãããªãã¯ãã³çžå Žã¯çµãããšããããšã§äžã§è²·ã£ãåã®å©ç¢ºã¯ããŠãããŠãããããããã£ãšãåµåžåžå Žã¯ãããªã£ãŠããããå©åãã¯å床äœäžããŠããã ä»æ©ã®CPIã§äœãåºããã©ãFOMCãå€ãããããšããã®ãé£ãã話ã ããäºæ³ã倧ããäžåãçµæãšãã§ããªãéãã¯åžå Žã®èŠææã¯FOMCãŸã§ç¶ããããã§ã¯FOMCã§äœãããã°ãµãã©ã€ãºããããïŒãšèšããããšãå®éã®ãšããã¯ããã§ããªããããªæ°ãå人çã«ã¯ããŠãããããŒããªã³ã°ã®å éã«ãããå©äžããžã®äœããã®èšåã«ãããããããã£ããšããã§ããããã¯ãã€ãã¯èµ·ãã話ã§ããããçæçãªæ··ä¹±ã¯ããã«ãããã®è©±ã ãã§ããŒã±ãããé·æäœè¿·ãããšã¯èãã«ãããšæã£ãŠããã ããæ°ããããªã®ã¯ãã€ã®ãªã¹ãããå³æ Œãªå¶éæªçœ®ãå°å ¥ãããšãããšããããªãã¯ãã³ã®å®æ ããŸã æ£åŒã«ã¯ããããã£ãŠãªããã®ã®ãæžå¿µããã»ã©ã®ãã®ã§ã¯ãªããšãã声ãèããå§ããŠããäžã§ã¯ãããå³ããæªçœ®ãšãªã£ãŠããããªãã¯ãã³ã®å»åŠäžã®å®æ ãã©ãã§ãããåãããæ¿çãå³ãããã®ã«ãªãã°åœç¶æ¯æ°ã«ã¯ãããªãããã®åæ¿çã§ã«ããŒãããããšãåæãšãªã£ãŠãããããªãã¯ãã³ãžã®è©äŸ¡ã察çã®æ¹åæ§ãèªããŸãªãæã«
æšå€ã®ç±³åœæ ªåŒåžå Žã¯ããã¡ã€ã¶ãŒè£œã¯ã¯ãã³ã®3åç®ã®æ¥çš®ã§ãªãã¯ãã³æ ªã«å¯Ÿããå ç«åå¿ã確èªã§ããããšã§åã³äžæãããªãã¯ãã³äžèœåã®æ°Žæºãå埩ããããã ãéå©ã®æ»ããéãããªãã¯ãã³äžèœåã«1.66ïŒ ã ã£ã10幎éå©ã¯1.52ïŒ ã«ãšã©ãŸããéææ¥ã®CPIçºè¡šã§å€§ããåãå¯èœæ§ãæ®ãã æ¬æ¥ã¯å°è±¡ã«æ®ã£ããã«ãŒã ããŒã°ã®èšäºãæ·±å ããããšæããŸãã èšäºã§ã¯ãã³ã«ã¡èª¿æ»ã§S&P500ã®å®è³ªæ ªåŒçå©åãã1947幎以æ¥ã®äœæ°Žæºãèšé²ãããšå ±éããããå瀟ã®èª¿ã¹ã§çŸåšã®å®è³ªæ ªåŒçå©åããïŒ2.9ïŒ ã§ãããå©çã倧ããæé·ããªãéãæ ªãä¿æããããšã§ã€ã³ãã¬èæ ®åŸã«æåŸ åçãèãããã€ãã¹ã§ããããšãæå³ãããäžå³ã«ãã«ãŒã ããŒã°ãç®åºããå®è³ªæ ªåŒçå©åãïŒïŒïŒ2.34%ïŒã衚瀺ããŠãããããã³ã«ã¡èª¿æ»ãšåæ§ã®æŽå²çäœæ°Žæºã§ããã ããããã®ãããå®è³ªæ ªåŒçå©åãã説æããŸãããã æ ªåŒçå©åãã¯PERïŒæ ªäŸ¡åççïŒã®éæ°ã§ãããäžæ ªåœããçŽå©å©çïŒæ䟡ç·é¡ã§æ±ãããäŸãã°ãæ䟡ç·é¡1000åã®äŒæ¥ã100åã®çŽå©çãããåºããŠããå Žåãæ ªåŒçå©åãã100ïŒ1000ïŒ10ïŒ ãšãªãããã®äŒæ¥ã¯åžå Žã«äžããããŠãã䟡å€ïŒïŒæ䟡ç·é¡ïŒã«å¯Ÿãã10ïŒ ã®ãªã¿ãŒã³ãæããŠããããšã«ãªããããªãã¡æè³å®¶ãšããŠ10ïŒ ã®åçãæåŸ ã§ããã å®è³ªæ ªåŒçå©åãã¯ããããã€ã³ãã¬ãå·®ãåŒããŠãã€ã³ãã¬ã®æœåšç
æ ªåŒåžå Žã¯å€§å¹ ã«äžæããªãã¯ãã³æ ªã®ç¶æ³ãåŸã ã«ãããã«ã€ããŠãæ¯æ§ã¯äœãè åšã§ã¯ãªãããšããããå§ããã®ã§åŸã ã«æžå¿µã¯åŸéããŠããã詳现ãå€æãããŸã§ã¯ãã°ãããããã ãããããã¯ããªãã¯ãã³æ ªéšåã¯åãªãè²·ãå ŽæäŸã«çµãããããªé°å²æ°ã§ã¯ãããããšã¯ä»æã®FOMCãããã ãããã¡ããããçšåºŠã¿ã«æŽŸã®ã¡ãã»ãŒãžããããšããã§ãã§ã«ç¹ã蟌ãŸããŠãããšããããããã éå©ã¯ãŸã äœãæ°Žæºã«ãšã©ãŸã£ãŠããããšãããFOMCãè¿ã¥ããã»ã©ãã掟ãªã¡ãã»ãŒãžã§ããªãéãã¯ããäžæ®µäžã¯ããåŸããã æææ¥ã«ãæžããããšã ãããã®èŠ³ç¹ã§èšãã°FOMCã®åŸæŒãïŒãšããèŠç¹ã§ãéå©ã®æ¹ãããã«äžã«è¡ãäœå°ã¯ãããããªã®ã§ããã®2æ¥ã§ã ãã¶æ»ãããã®ã®éå©æææ ªã¯ä»æ¯èŒã§ããå°ãäžããã£ãŠããããããããã®1ïŒ2é±éã§è²·ã£ããã®ã¯å šäœãæ»ãã«ã€ããŠå©ç¢ºããŠããã¹ãã ãšã¯æãããäžéšã¯éå©æææ ªã«ã¹ã€ããããŠæã£ãŠããäºå®ã ãã®1ïŒ2æ¥ã¯ãªãã¯ãã³æ ªéšåã®ååçžå Žãšãªã£ãŠããã®ã§ãéã«è¿œå ãã¥ãŒã¹ãå°ãªããèšåããå 容ãç¹ã«ãªããããŸãçæçãªãã¬ãŒãã¯ããªããã®ã®ãä»ã¯ãªãã¯ãã³ãšFOMCãšå²ãšçæã§æ±ºçãšãããåããããçžå Žã§ãããã®ã§çæçãªäºæ³ãšãã¬ãŒãã®äºå®ãæ³å®ããŠãããã»ããããããã FOMCãã¿ãããå¿ãå»ãããŠããããããååç¹ã蟌ãŸãããšæ³å®ãããŠãããšæãã®ããFOMCçŽåã«ã¯èŠ
æšå€ã®ç±³åœæ ªåŒåžå Žã¯ãªãã¬ãŒã·ã§ã³åã³ãªãŒã«ããšã³ãããŒéæãäžå¿ã«å€§ããå€äžãããåã¢ããåºãŠãããªãã¯ãã³æ ªã«é¢é£ããéå ±ã¯æããŠãããã軜ãæ¯æ§ã瀺ããŠããã®ã§ãã®å®å¿æããã»ã³ãã¡ã³ããå埩äžãæ ªåŒã®äžæãåããŠéå©ãä¹ ãã¶ãã«å€§ããäžæãã«ãŒããã¹ãã£ãŒãåãã20幎ïœ30幎ã®é·æéå©ã9bps匷äžãã£ããå é±æŽèœããŠããæ è¡ãã¬ãžã£ãŒé¢é£éæã®å€äžãããç¹ã«å 調ã ã£ãã æ¬æ¥ã¯å°ã話é¡ãå€ããŠãæ¥ç±³ã®æ ªäŸ¡ã®çžå¯Ÿçããªã¥ãšãŒã·ã§ã³ãã¿ãŠã¿ãããšæããŸãã ãã€ãã¿ãŒã§ããã®ã³ã¡ã³ãã§ãããç±³æ ªã®è©±ããã¿ã玹ä»ãããã14幎éã®ããæ代ã«ãããŠæ¥æ¬æ ªã®éçšãã¡ã€ã³ã«ææããŠãããéåžžã«éŠŽæã¿ã®ããåžå Žã§ãã£ãŠãé åçãªäŒæ¥åã³éæãå€ãã ãããŠãã®æ¥æ¬æ ªãä»ãéå»10幎éãèŠæž¡ããšçžå¯Ÿçã«æãå²å®ã®æ°Žæºã«æŸçœ®ãããŠããã 2013ïœ2014幎以éãã¿ããšç±³æ ªã¯å€ãã®è³éã®åãç¿ãšãªã£ãŠãããGAFAMçã®é«æé·éæãäžçäžã®æè³å®¶ã®å¿ãã€ãã¿ãæ§é çãªå³è©äžããã®å€§çžå Žãç¯ãäžããããŠããããªãã³ããåŸã«è¡ãããå代æªèã®éèç·©åãç®åãã«ç±³æ ªãçã è©äŸ¡ãããããã¯äžå¿ã®ãã¹ããã¯ææ°ããããã³ã ããã«ãè¶ ããããªã¥ãšãŒã·ã§ã³ã§è©äŸ¡ãããã ããŠãçŸåšã¯ãããã§ããããã äžå³ã«ãŠæ¥ç±³ã®çžå¯Ÿçãªããªã¥ãšãŒã·ã§ã³ïŒïŒäºæ³PERïŒäºæ³æ ªåŒåççïŒã®æšç§»ãè¡šããŠãããçŸåšã®S&
11æã®éçšçµ±èšãéææ¥ã«çºè¡šãé蟲æ¥éšééçšè æ°ãåææ¯+21äžäººãšåžå Žäºæ³ã®+55äžäººãå€§å¹ ã«äžåã£ããäžæ¹ã§å€±æ¥çã¯4.2ïŒ ãšåæã®4.6%ããããã«äœäžã2020幎2æ以æ¥ã®äœæ°Žæºãšãªã£ãããªãã10æã®éçšè æ°ã®å¢å ã¯54.6äžäººãšåœåã®53.1äžäººããäžæ¹ä¿®æ£ãããŠãããè³éãåŒãç¶ãäžæãåææ¯+0.3%ãå幎åææ¯+4.8%ãšãªã£ããéçšè æ°ã®å¢å å¹ ã¯ãã倧ããã¯ãªããã倱æ¥çã®äœäžãšè³éäžæã®ç¶ç¶ããããŒããªã³ã°å éã®è°è«ã«æ¯éã¯ãªããšã®å£°ã倧ããã12æã®éèæ¿ç決å®äŒåã§ããŒããªã³ã°å éã«ã€ããŠæ€èšãã¹ããšããŠãšã«è°é·ã¯å é±èšŒèšããŠããã ããããããŠç±³åœæ ªåŒåžå Žã¯åºç€ããäžæããŠããããéçšçµ±èšçºè¡šåŸã«ããŒããªã³ã°å éãèŠæããŠäžèœãžãšè»¢ãããäžæ¹ã§éå©ã¯éã®åããšãªã£ãŠãããéçšçµ±èšçºè¡šåŸã«äžæããããå šäœçãªãªã¹ã¯ãªãã®æµããæ¯æ°æªåãæžå¿µããŠæçµçã«ã¯å€§ããéå©ã¯äžãã£ãŠãããå©äžããç¹ã蟌ã¿ã«ããåãã«ã¯ãªã£ãŠããããæ¥é±ã®æ±ºå®äŒååŸã®å±éãåŸ ãããç¶æ ãšãªã£ãŠããã ãããªäžã§ããªãã£ããã£ãã®ããŒã¿ã«ãããšãS&P500ã®äŒæ¥ã®ä»åŸïŒååæïŒ21幎第4ååæâ22幎第3ååæïŒã®æ¥çžŸäºæ³ã«åºã¥ãPERã¯ã¯ïŒïŒïŒïŒåãšçºè¡šããããPERã®æ°Žæºã ãã§èšãã°å²é«ãšèšããã»ã©ã®æ°Žæºã«ããªããããšã¯æ¥çžŸãäºæ³éãéæã§ãããã©ãã次第ãšãªã£ãŠããã2021
æšæ©ã®ç±³åœæ ªåŒåžå Žã¯å€§ããäžæããããšãã£ããã¥ãŒã¹ãããããã§ããªããããªãã¯ãã³æ ªãžã®åæºãå§ãŸã£ãŠä»¥é倧ãã売ãããŠããããªã¥ãŒç³»ãæ è¡ç³»ã®éæãååã§å€§ããè²·ãããããšã«ãªã£ããçžå€ããããªãã¯ãã³æ ªã«å¯ŸããŠã®æžå¿µãšæ¶åãå®ãŸã£ãŠããããå€åãã®èãå±éãšãªã£ãŠãããããã«èŒªããããŠãFRBã®ã¿ã«æŽŸãªã¡ãã»ãŒãžãå¹ããŠããã®ã ãããå¹³æã§ããã°ããŸãããã ããããšããã¬ãã«æã®è©±ã ããªãã¯ãã³æ ªãžã®æžå¿µã®ããã§ããŒã±ãããå·éãªè©äŸ¡ãåºæ¥ãŠããªãããã«æãã ç¹°ãè¿ãã§ãããããªãã¯ãã³æ ªã«ããçµæžãžã®ææãããã®ããªãã®ãã§æ¿çã®æ¹åæ§ãå€ãã£ãŠããããçŸæç¹ã§ã¯åœ±é¿ãèªããªãã®ã§åœ±é¿ããªãã®ã§ããã°ãšããåæã®äŒè©±ã«éããªãããã£ãšãããªãã¯ãã³æ ªã®çµæžãžã®åœ±é¿ããšããããããããã©ãã»ã©ã®è åšãªã®ãïŒãšããã®ããçŸæç¹ã§ã¯ææè æ°ã®æ¡å€§ã«æ¯äŸããŠéçè ãæ»äº¡è ãå¢ããŠãããšãã話ã¯ããŸãèããªããããããš2é±éã»ã©æäœã§ãå¿ èŠãªãã ãšã¯æãããéçåçãæ»äº¡çãæžå°ããã®ã§ããã°ãææè æ°ãå¢ããŠã倧ããåé¡ã§ããªãã ããããããªãã°çµæžãžã®åœ±é¿ããããã倧ããããšãªãããšããå¯èœæ§ãååããã æ¥æ¬æ ªãåå¥æ ªãã¿ããšå£²ã蟌ãŸããŠããéæãéåžžã«å€ããä»é±ã¯ã¬ãžã£ãŒç³»ãä»èŸŒãã§å幎å¯ãŠããããã®ã§ã¯ïŒãšè©±ããããä»ã«ãè³åŠäž¡è«ãããããªãœãããã³ã¯ã°ã«ãŒããªãããæ°ã«
æšå€ã®ç±³åœæ ªåŒåžå Žã¯ç±³åœå ãªãã¯ãã³æ ªã®æ€åºå ±éãåããžã§ããã³ãŒã¹ã¿ãŒã®ããã«é«å€ããåãè¿ã倧ããäžèœãS&Pã¯äžæ1.9%äžæããŠãããããã®æ°Žæºãã3ïŒ äžèœããŠååŒãçµäºããã¹ããã¯ãåæ§ã«1.8ïŒ äžæã®æ°Žæºãã3.6ïŒ å€äžãããããŠãšã«è°é·ã¯èšŒèšäºæ¥ç®ã®çºèšã¯æšæ¥ã®ã¿ã«æŽŸå§¿å¢ãç¶æãããããªã¹ã¯ãªãæžå¿µããéå©ãå€§å¹ ã«äœäžã æšæ¥çºè¡šããããã¯ãææšã¯åŒãç¶ãæ¯æ°æ¡å€§ã瀺ãããææ¥ã®éçšçµ±èšåã®ADPã®ïŒ53.4äžäººã¯åžå Žäºæ³ãäžåãã3ãæé£ç¶50äžäººä»¥äžã®å¢ãã補é æ¥ã®ISMã¯åžå Žäºæ³ãããäžåã£ããã61.1ãšå æã®60.8ããæ¹åãã2000幎以éã»ãšãã©ãªãã£ã60匷ã®æ°Žæºãç¶æããã ãªãã¯ãã³æ ªè延ã§12æ1æ¥ã®åã¢ã«ãããææè ãäžæšæ¥ã®æ°Žæºã®çŽåãšãªããæ€æ»ã®éœæ§çã16.5ïŒ ã«äžæã11æäžã«æ€åºãããéœæ§è ã®ãã¡ã74ïŒ ããªãã¯ãã³æ ªã§ãã«ã¿æ ªãäžåããä»åŸæ°é±éã§ãªãã¯ãã³æ ªã®ææååã³éçåãªã¹ã¯ãããæ確ã«ãªã£ãŠããã ãããããããå€æåã§ãååœããã§ã«å®æœããŠãã察çã®çµæžãžã®åœ±é¿ãé¡åšåããã§ãããã ãªãã¯ãã³æ ªã¯èšããŸã§ããªããã€ã³ãã¬å§åãå éããããã³ã·ã£ã«ããããåŽååå çãäœããã圱é¿ãåãŒãã ããããããªãè³äžãã®èŠæ±ãã転è·çã®äžæãã€ã¥ããšãããæ ¹åŒ·ãã€ã³ãã¬å§åããŸããŸãå®çããããããèæ¯ã«ãããŸã§è¡ã£ãŠãã倧èãªéè
æšæ¥ã®ç±³åœæ ªåŒåžå Žã¯å€§ããäžèœãããå é±éææ¥æ«ã®äžèœåŸãšæ¯ã¹ãŠãããŠãšS&Pã1ïŒ è¿ãäžåãæ°Žæºãšãªããäžæ¹ã§NASDAQã¯éææ¥æ«ãã0.3ïŒ ã»ã©äžæããŠãããFRBã®ããŠãšã«è°é·ãã€ã³ãã¬ã«ã€ããŠäžéæ§ã§ã¯ãªãå¯èœæ§ããããšèšåããããšããããŒããªã³ã°ã®å éã«ã€ããŠã®è°è«ãæ€èšãããšçºèšããããšã§ãäºæ³ã«åããŠã¿ã«æŽŸã§ãã£ãããšãäžèœã®å€§ããªèæ¯ããªãã¯ãã³æ ªãžã®æžå¿µãããäžã§ã®ã¿ã«æŽŸçºèšãšãªããããŒã±ããã¯æ··ä¹±ããããšã«ãªã£ãã ãã£ãšãããŠãšã«è°é·èªèº«ãããªãã¯ãã³æ ªã«ã€ããŠã¯ãããã®çºèšãèŠéãã«å«ãŸããŠããªããšèšã£ãŠããããªãã¯ãã³æ ªãçµæžã«äžãã圱é¿ã«ã€ããŠä»åŸã®è©³çŽ°æ å ±ãåŸ ã€ãšèšã£ãŠãããã€ãŸãããªãã¯ãã³æ ªãçµæžã«åœ±é¿ãäžããªãããšããããèæ ®ããªãåæã§ã®äžèšã®äŒè©±ã§ããã圱é¿ãäžãããªãåœç¶è©±ãå€ãã£ãŠããã ããããã®ããããªãã¯ãã³æ ªãšéèåŒãç· ãã®äž¡æ¹ãæžå¿µããã®ã¯ãã³ã»ã³ã¹ã ãšåŒãç¶ãèããŠããã æææ¥ã®ããŒã±ããã³ã¡ã³ãã§ãæžããéãããã®äžé£ã®æ··ä¹±ã¯éå°åå¿ã ãšæã£ãŠãããæ¥çµå¹³åã28,000åãå²ã£ããšãããããããžã®å ç©ã®å£²ãã®ã«ããŒãå§ããŠãããçŸå®ã¯ãªãã¯ãã³æ ªã®åœ±é¿ã¯ãã倧ãããªããšããçµè«ã«ãªããšäºæ³ããŠãããã圱é¿ã倧ãããªãã®ã§ããã°æ¿çã®ãµããŒããããããåŸãªãå±é¢ãåºãŠãããšèããŠãããã€ã³ãã¬ã¯ãã¡ãããªã¹ã¯ã§ã¯ããããã€
æšå€ã®ç±³åœæ ªåŒåžå Žã¯éææ¥ã®ãªãã¯ãã³ææãææããŠãã¹ããã¯ãçé ã«å€§ããåçºãäžãã£ãŠããåæ²¹ãé·æéå©ãäžæããVIXãå€§å¹ äžèœãåã¢ã®å»çé¢ä¿è ããªãã¯ãã³æ ªã®éçåãªã¹ã¯ã«å¯ŸããŠååããªçºèšãããããšã奜æãããéææ¥ã«åºãŸã£ãŠããäžå®ãæ²éåããã ç§ã¯é·ãçžå Žã«é¢ãã£ãŠãã身ãšããŠæ¥ã ã®å€åãã«æå³ãèŠåºãããšããçãããã倧äœã®å Žåã¯é絊ãããžã·ã§ãã³ã°ã ãã§æ±ºãŸã£ãŠããŸãã®ãç解ãã€ã€ããéææ¥ãšä»æ¥ã®ãããªå€åããèŠããšãæãããçžå Žã¯ãªãã¯ãã³æ ªã®ææåãéçåãªã¹ã¯ã«å¯ŸããŠäœããç¥ã£ãŠããããïŒããšæã£ãŠããŸããå®æ ã¯ãã¡ããããç°¡åã§ãã£ãŠçžå Žã¯äœãç¥ããªããŸãŸãè²·ããšå£²ããåºäŒãäŸ¡æ Œã§ã²ããããšäžäžããŠããã®ã¿ãèŠã¯ããã§ããã©ãã£ãªãã£ã«å·Šå³ãããã ãããŠä»ã®çžå Žã«ãã©ãã£ãªãã£ãè±å¯ã«ããã ã³ããçŠæ代ã®äžã€ã®ç¹åŸŽã¯ã極端ãªã倧èãªè¡åã«å¯Ÿããæå¶ãå¹ããªããªã£ãŠããããšã ããã°æ±ºæã®ãã©ãã£ãªãã£ã 2幎åãŸã§ãå¯äœçšãå€ç°æ ªã®çºçãæžå¿µãã¯ã¯ãã³éçºã¯10幎éããããšèšãããŠãããä»ã¯ãªãã¯ãã³æ ªã«å¯Ÿããã¯ã¯ãã³ã100æ¥ä»¥å ã«åºè·ã§ãããšããã¡ã€ã¶ãŒãã¢ãã«ããçºè¡šããŠããããããŸã§ããªãçæéã§æãéããæè¡é©æ°ã¯åãŸãããããªãã¯ãã³æ ªã®åæãå§ãŸã£ãã°ããã®ã¿ã€ãã³ã°ã§ãã§ã«åºè·ã«åããæºåãããŠããããšã«éåæãæããããåŸãªãã