2025年5月7日正午過ぎ。

トランプ大統領の関税・利下げ・減税発言の“本質”とは。金融政策による経済成長は限界に達し、利下げのカードはもはや機能しない。インフレと時間価値の回復が「金利」という秩序を取り戻し、経済の主導権は中央銀行から国家へ──財政出動による成長モデルへと移行する。しかし、そのドルを国外に流出させるわけにはいかない。トランプ大統領は高関税によってブロック経済を築き、ドルを内国で循環させる構造を目指す？AIによってオールドエコノミー産業を再武装し、分散・分断された経済圏ごとに自律した生産と防衛を行う、新しい国家資本主義の到来を意味する。

メルマガ登録はこちらから：（⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://subscribepage.io/ni225op⁠⁠⁠⁠⁠⁠⁠⁠）　

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Just past noon, May 7, 2025.

What is the true intention behind President Trump’s recent remarks on tariffs, interest rate cuts, and tax reductions?

Monetary policy-driven economic growth has reached its limits. The rate cut card no longer functions.
As inflation rises and time regains its value, interest rates are once again restoring order to the economy.
The era of central bank-led growth is fading, and a new growth model driven by fiscal expansion is emerging—led by the state.

But letting those fiscal dollars leak abroad is not an option.
President Trump appears to aim for a structure in which the dollar circulates only within the United States,
protected by high tariffs and a reformed block economy.

In this model, AI retools old-economy industries like energy, agriculture, and infrastructure,
and each fragmented, decentralized economic zone builds self-sufficient systems of production and defense.
This marks the arrival of a new form of state capitalism, tailored for a divided, post-globalized world.