経済短歌: なぜ米ドルに強気か? Why bullish on US Dollars? – A Viewpoint
中湖 康太
経済短歌 Economic Tanka
なぜ米ドルに強気か? Why bullish on US Dollars?
金利差や 経常収支も 大事だが 中銀B/S(ﾁｭｰｷﾞﾝﾋﾞｰｴｽ) みれば米ドル
It’s important to look at interest differential and current account balance.
But I’m inclined to opt for US dollars looking at the central banks’ total assets-GDP ratio for confidence.
日銀は 1.4倍(ｲｯﾃﾝﾖﾝﾊﾞｲ) 連銀は 0.4倍(ﾚｰﾃﾝｼﾊﾞｲ)の 総資産-GDP(ｿｰｼｻﾝ : ｼﾞｰﾃﾞｨｰﾋﾟｰ)
In terms of Assets-GDP, BOJ is 1.4x,
FRB is 0.4x,
増税で 経済破壊 するよりも 日銀消化 国債がまし
BOJ’s JGB purchase is less shit,
Than destructive tax increases to cover budget deficit.
総資産 日銀-連銀 五対八(ｺﾞﾀｲﾊﾁ) GDPは 一対六(ｲｯﾀｲﾛｸ)なり
In total assets, BOJ to FRB is 1 to 1.6.
In Nominal GDP, 1 to 6*.
* Source: IMF estimates; figures in 2022
By Kota Nakako
2023/07/23
