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BS(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
