{"categories":["\u72ec\u81ea\u7406\u8ad6\u7f6e\u304d\u5834","\u7d4c\u6e08\u96d1\u611f","\u601d\u60f3"],"author_url":"https://blog.hatena.ne.jp/circulation-thought/","html":"<iframe src=\"https://hatenablog-parts.com/embed?url=https%3A%2F%2Fcirculation-thought.hatenablog.com%2Fentry%2F2026%2F04%2F07%2F223000\" title=\"\u4e0d\u666f\u6c17\u306e\u30d0\u30d6\u30eb\u3068\u306f\u4f55\u304b\u2015\u2015\u666e\u901a\u306e\u30d0\u30d6\u30eb\u3068\u306e\u6c7a\u5b9a\u7684\u306a\u9055\u3044 \uff08What Is a Recession Bubble? \u2014 The Decisive Difference from a Conventional Bubble\uff09 - \u4e16\u754c\u4e00\u306e\u7a0e\u91d1\u5acc\u3044(\u66ab\u5b9a)\" class=\"embed-card embed-blogcard\" scrolling=\"no\" frameborder=\"0\" style=\"display: block; width: 100%; height: 190px; max-width: 500px; margin: 10px 0px;\"></iframe>","width":"100%","provider_name":"Hatena Blog","author_name":"circulation-thought","title":"\u4e0d\u666f\u6c17\u306e\u30d0\u30d6\u30eb\u3068\u306f\u4f55\u304b\u2015\u2015\u666e\u901a\u306e\u30d0\u30d6\u30eb\u3068\u306e\u6c7a\u5b9a\u7684\u306a\u9055\u3044 \uff08What Is a Recession Bubble? \u2014 The Decisive Difference from a Conventional Bubble\uff09","type":"rich","height":"190","provider_url":"https://hatena.blog","version":"1.0","blog_url":"https://circulation-thought.hatenablog.com/","description":"\u672c\u8a18\u4e8b\u3067\u306f\u3001\u300c\u4e0d\u666f\u6c17\u306e\u30d0\u30d6\u30eb\u300d\u3068\u3044\u3046\u6982\u5ff5\u3092\u63d0\u793a\u3057\u3001\u5f93\u6765\u306e\u30d0\u30d6\u30eb\u3068\u306e\u9055\u3044\u3092\u69cb\u9020\u7684\u306b\u89e3\u8aac\u3059\u308b\u3002 \u5f93\u6765\u3001\u30d0\u30d6\u30eb\u306f\u597d\u666f\u6c17\u3068\u5171\u306b\u767a\u751f\u3059\u308b\u3082\u306e\u3068\u3055\u308c\u3066\u304d\u305f\u3002\u5c06\u6765\u3078\u306e\u671f\u5f85\u3084\u697d\u89b3\u3092\u80cc\u666f\u306b\u3001\u6295\u8cc7\u3084\u6295\u6a5f\u304c\u52a0\u901f\u3057\u3001\u4fa1\u683c\u304c\u5b9f\u4f53\u4ee5\u4e0a\u306b\u81a8\u3089\u3080\u73fe\u8c61\u3067\u3042\u308b\u3002 \u3057\u304b\u3057\u3001\u73fe\u4ee3\u306e\u4fe1\u7528\u8ca8\u5e63\u7d4c\u6e08\u306b\u304a\u3044\u3066\u306f\u3001\u4e0d\u666f\u6c17\u306e\u4e2d\u3067\u3082\u30d0\u30d6\u30eb\u304c\u6210\u7acb\u3059\u308b\u3002 \u305d\u306e\u7406\u7531\u306f\u3001\u8cc7\u91d1\u306e\u884c\u304d\u5834\u306e\u55aa\u5931\u306b\u3042\u308b\u3002 \u91d1\u878d\u7de9\u548c\u3084\u8ca1\u653f\u51fa\u52d5\u306b\u3088\u3063\u3066\u4f9b\u7d66\u3055\u308c\u305f\u8cc7\u91d1\u3084\u3001\u4f01\u696d\u306e\u5185\u90e8\u7559\u4fdd\u304c\u3001\u5b9f\u4f53\u7d4c\u6e08\u306b\u4f7f\u308f\u308c\u305a\u91d1\u878d\u5e02\u5834\u3078\u3068\u6d41\u5165\u3059\u308b\u3053\u3068\u3067\u3001\u300c\u9003\u907f\u5148\u300d\u3068\u3057\u3066\u8cc7\u7523\u4fa1\u683c\u3092\u62bc\u3057\u4e0a\u3052\u308b\u69cb\u9020\u304c\u5f62\u6210\u3055\u308c\u308b\u3002 \u672c\u8a18\u4e8b\u3067\u306f\u3001 \u767a\u751f\u6761\u4ef6 \u8cc7\u91d1\u306e\u51fa\u3069\u3053\u308d \u5e02\u5834\u306e\u52d5\u304d \u5d29\u58ca\u306e\u4ed5\u65b9 \u7d4c\u6e08\u69cb\u9020\u3078\u306e\u5f71\u97ff \u3068\u3044\u3063\u305f\u89b3\u70b9\u304b\u3089\u3001\u666e\u901a\u306e\u30d0\u30d6\u30eb\u3068\u4e0d\u666f\u6c17\u306e\u30d0\u30d6\u30eb\u3092\u6bd4\u8f03\u3057\u3001\u305d\u306e\u9055\u3044\u3092\u660e\u78ba\u306b\u3059\u308b\u3002 \u3055\u3089\u306b\u3001\u666e\u901a\u306e\u30d0\u30d6\u30eb\u304c\u7d4c\u6e08\u5d29\u58ca\u3092\u5f15\u304d\u8d77\u3053\u3059\u306e\u306b\u5bfe\u3057\u3001\u4e0d\u666f\u6c17\u306e\u30d0\u30d6\u30eb\u306f\u8ca7\u5bcc\u306e\u5dee\u306e\u56fa\u5b9a\u30fb\u62e1\u5927\u3092\u901a\u3058\u3066\u3001\u6700\u7d42\u7684\u306b\u306f\u8ca8\u5e63\u4fa1\u5024\u305d\u306e\u3082\u306e\u306e\u5d29\u58ca\u306b\u81f3\u308b\u53ef\u80fd\u6027\u3092\u6301\u3064\u3053\u3068\u3092\u6307\u6458\u3059\u308b\u3002 This article introduces the concept of a \u201cRecession Bubble\u201d and explains how it differs fundamentally from a conventional bubble. Traditionally, bubbles are associated with economic booms\u2014driven by optimism, speculation, and expectations of future growth. However, in modern economies based on fiat currency, a different kind of bubble can emerge even during economic stagnation. A recession bubble is formed not by optimism, but by the lack of investment opportunities. Excess capital\u2014often generated through monetary expansion and accumulated corporate reserves\u2014flows into financial markets as a form of \u201csafe storage,\u201d rather than productive investment. As a result, asset prices can continue to rise despite weak real economic conditions. This article compares conventional bubbles and recession bubbles across multiple dimensions, including: Conditions of emergence Sources of capital Market behavior Collapse dynamics Impact on economic structure It further argues that while conventional bubbles may lead to economic crises, recession bubbles carry the risk of something more severe: structural inequality and, in extreme cases, a collapse of monetary trust itself.","published":"2026-04-07 22:30:00","image_url":null,"url":"https://circulation-thought.hatenablog.com/entry/2026/04/07/223000","blog_title":"\u4e16\u754c\u4e00\u306e\u7a0e\u91d1\u5acc\u3044(\u66ab\u5b9a)"}