{"id":367,"date":"2017-07-20T10:17:00","date_gmt":"2017-07-20T02:17:00","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=367"},"modified":"2017-07-20T10:17:00","modified_gmt":"2017-07-20T02:17:00","slug":"%e9%80%99%e6%b3%a2%e7%be%8e%e5%9c%8b%e7%b6%93%e6%bf%9f%e7%9a%84%e5%be%a9%e7%94%a6%e5%8f%af%e8%83%bd%e6%9c%83%e5%9b%a0%e7%82%ba%e4%bb%80%e9%ba%bc%e5%9b%a0%e7%b4%a0%e8%80%8c%e5%81%9c%e6%ad%a2%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=367","title":{"rendered":"\u9019\u6ce2\u7f8e\u570b\u7d93\u6fdf\u7684\u5fa9\u7526\u53ef\u80fd\u6703\u56e0\u70ba\u4ec0\u9ebc\u56e0\u7d20\u800c\u505c\u6b62\uff1f"},"content":{"rendered":"\n<p><mark style=\"background-color:rgba(0, 0, 0, 0);color:#949694\" class=\"has-inline-color\">\u300c\u7576\u4f60\u958b\u59cb\u8a8d\u70ba\u4f60\u77e5\u9053\u91d1\u878d\u5e02\u5834\u7684\u50f9\u683c\u63a5\u4e0b\u4f86\u6703\u671d\u54ea\u500b\u65b9\u5411\u524d\u9032\u7684\u6642\u5019\uff0c\u4f60\u5176\u5be6\u5df2\u7d93\u8ff7\u5931\u4e86\u3002\u300d\u2500\u2500 \u8ca1\u7d93\u5c08\u5bb6\u67ef\u62c9\u66fc\uff08Jonathan Clements\uff09\uff0c\u8ca1\u7d93\u90e8\u843d\u683cHumbleDollar.com<\/mark><\/p>\n\n\n\n<p>\u7f8e\u570b\u80a1\u5e02\u5f9e2009\u5e743\u6708\u7684\u4f4e\u9ede\u958b\u59cb\u4e0a\u6f32\uff0c\u81f3\u4eca\u5df2\u7d93\u8d85\u904e8\u5e74\u4e86\uff0c\u5c45\u9ad8\u4e0d\u4e0b\u7684\u80a1\u5e02\u8b93\u5f88\u591a\u6295\u8cc7\u4eba\u4e0d\u77e5\u9053\u6b64\u6642\u5230\u5e95\u662f\u8a72\u8cb7\u9032\uff1f\u9084\u662f\u5148\u8ce3\u51fa\u7b49\u5f85\u80a1\u5e02\u4e0b\u8dcc\uff1f\u7576\u7136\uff0c\u6211\u4e26\u4e0d\u662f\u60f3\u8981\u5617\u8a66\u53bb\u731c\u6e2c\u80a1\u5e02\u4f55\u6642\u6703\u5230\u9ad8\u9ede\uff0c\u56e0\u70ba\u9019\u7a2e\u5617\u8a66\u662f\u611a\u8822\u7684\u884c\u70ba\uff0c\u5931\u6557\u7387\u592a\u9ad8\u4e86\u3002\u904e\u53bb\u5f88\u591a\u8ca1\u7d93\u5c08\u5bb6\u90fd\u505a\u904e\u9019\u7a2e\u5617\u8a66\u7d1b\u7d1b\u88ab\u5e02\u5834\u6240\u6253\u6557\u4e86\uff0c\u80a1\u5e02\u53ef\u80fd\u5f9e\u9019\u88e1\u518d\u7e7c\u7e8c\u4e0a\u6f32\u500b\u5e7e\u5e74\uff0c\u4f46\u4e5f\u53ef\u80fd\u4e00\u5207\u660e\u5929\u5c31\u6703\u505c\u6b62\uff0c\u4e0d\u8ad6\u662f\u54ea\u4e00\u7a2e\u60c5\u6cc1\u90fd\u4e0d\u662f\u5f88\u5947\u602a\u7684\u4e8b\u60c5\uff0c\u9019\u9ede\u6295\u8cc7\u4eba\u8981\u505a\u597d\u5fc3\u7406\u6e96\u5099\u3002<\/p>\n\n\n\n<p>\u96d6\u7136\u6c92\u6709\u4eba\u6703\u77e5\u9053\u80a1\u5e02\u6703\u7e7c\u7e8c\u6f32\u591a\u4e45\uff1f\u4f46\u6709\u4e00\u9ede\u5012\u662f\u53ef\u4ee5\u80af\u5b9a\u7684\uff0c\u90a3\u5c31\u662f\u80a1\u5e02\u4e26\u4e0d\u6703\u6c38\u9060\u4e00\u76f4\u4e0a\u6f32\uff0c\u7d93\u6fdf\u4e5f\u4e0d\u6703\u6c38\u9060\u6301\u7e8c\u6210\u9577\u3002\u65e2\u7136\u5982\u6b64\uff0c\u6211\u5011\u5012\u662f\u53ef\u4ee5\u53bb\u5206\u6790\u4e00\u4e0b\u9019\u6ce2\u7f8e\u570b\u7d93\u6fdf\u7684\u6210\u9577\u53ef\u80fd\u6703\u56e0\u70ba\u4ec0\u9ebc\u56e0\u7d20\u800c\u505c\u6b62\uff1f\u9019\u4e00\u9ede\u5f6d\u535a\u793e\uff08Bloomberg\uff09\u6700\u8fd1\u7684\u4e00\u7bc7\u6587\u7ae0\u6709\u500b\u4e0d\u932f\u7684\u5206\u6790\u503c\u5f97\u53c3\u8003\uff0c\u9019\u7bc7\u6587\u7ae0\u7684\u6a19\u984c\u662f\u3008\u7d93\u6fdf\u5fa9\u7526\u662f\u600e\u9ebc\u7d50\u675f\u7684\u3009\uff08<a href=\"https:\/\/www.bloomberg.com\/view\/articles\/2017-06-14\/how-the-u-s-economy-will-enter-its-next-recession\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>How this Economic Recovery Ends<\/strong><\/a>\uff09\uff0c\u4f5c\u8005\u5206\u6790\u4e86\u904e\u53bb\u5e7e\u6b21\u7d93\u6fdf\u7684\u5faa\u74b0\uff0c\u767c\u73fe\u4e86\u4e00\u500b\u6709\u8da3\u7684\u6a21\u5f0f\uff0c\u90a3\u5c31\u662f<strong>\u904e\u53bb\u7684\u7d93\u6fdf\u8870\u9000\u8981\u767c\u751f\u524d\u90fd\u6709\u5e7e\u500b\u76f8\u540c\u7684\u6b65\u9a5f\uff1a<\/strong><\/p>\n\n\n\n<p class=\"has-palette-color-2-color has-text-color\"><strong>\u7b2c\u4e00\u500b\u6b65\u9a5f\uff1a\u7d93\u6fdf\u9054\u5230\u5145\u5206\u5c31\u696d\u3002<\/strong><\/p>\n\n\n\n<p class=\"has-palette-color-2-color has-text-color\"><strong>\u7b2c\u4e8c\u500b\u6b65\u9a5f\uff1a\u6cb9\u50f9\u4e0a\u6f32\u3002<\/strong><\/p>\n\n\n\n<p class=\"has-palette-color-2-color has-text-color\"><strong>\u7b2c\u4e09\u500b\u6b65\u9a5f\uff1a\u7d93\u6fdf\u505c\u6b62\u5fa9\u7526\uff0c\u958b\u59cb\u8d70\u5411\u7d93\u6fdf\u8870\u9000\u3002<\/strong><\/p>\n\n\n\n<p>\u4f5c\u8005\u8209\u4e86\u904e\u53bb\u5e7e\u6b21\u7d93\u6fdf\u5faa\u74b0\u7684\u4f8b\u5b50\uff0c\u4f8b\u5982\uff1a1970\u5e74\u4ee3\u521d\u671f\uff0c\u7f8e\u570b\u7d93\u6fdf\u964d\u52305\uff05\u4ee5\u4e0b\uff0c\u9054\u5230\u5145\u5206\u5c31\u696d\u7684\u6c34\u6e96\uff0c\u5230\u4e861973\u5e74\u7206\u767c\u4ee5\u963f\u6230\u722d\uff0c\u9032\u800c\u5f15\u767c\u77f3\u6cb9\u7981\u904b\uff0c\u9020\u6210\u6cb9\u50f9\u5927\u6f32\uff0c\u7f8e\u570b\u7d93\u6fdf\u4e4b\u5f8c\u958b\u59cb\u6b65\u5165\u8870\u9000\u3002\u7b2c\u4e8c\u500b\u4f8b\u5b50\u662f\u767c\u751f\u5728\u7b2c\u4e00\u6b21\u7684\u6ce2\u65af\u7063\u6230\u722d\u524d\uff0c1989\u5e74\u521d\u671f\u7f8e\u570b\u5931\u696d\u7387\u518d\u5ea6\u964d\u52305\uff05\u4ee5\u4e0b\uff0c\u9054\u5230\u5145\u5206\u5c31\u696d\u7684\u6c34\u6e96\uff0c\u4f46\u662f\u4e2d\u6771\u5c40\u52e2\u7684\u4e0d\u7a69\u5b9a\uff0c\u4f0a\u62c9\u514b\u57281990\u5e74\u653b\u6253\u4e86\u79d1\u5a01\u7279\uff0c\u570b\u969b\u6cb9\u50f9\u5f9e\u6bcf\u687616\u7f8e\u5143\u4e0a\u6f32\u523040\u7f8e\u5143\uff0c\u4e4b\u5f8c\u7f8e\u570b\u7d93\u6fdf\u958b\u59cb\u6b65\u5165\u4e86\u8870\u9000\u3002\u518d\u4e00\u500b\u4f8b\u5b50\u662f\u767c\u751f\u57281990\u5e74\u4ee3\u672b\u671f\uff0c\u96d6\u7136\u7576\u6642\u5927\u5bb6\u90fd\u8a8d\u70ba\u662f\u7db2\u8def\u79d1\u6280\u6ce1\u6cab\u9020\u6210\u80a1\u50f9\u5927\u8dcc\uff0c\u9032\u800c\u7d93\u6fdf\u958b\u59cb\u8870\u9000\uff0c\u4f46\u662f\u6cb9\u50f9\u5728\u90a3\u500b\u6642\u5019\u5176\u5be6\u4e5f\u5f88\u5de7\u5408\u7684\u4e0a\u6f32\u4e86\u3002\u57281997\u5e74\u7f8e\u570b\u5931\u696d\u7387\u964d\u52305\uff05\u4ee5\u4e0b\uff0c1998\u5e74\u4e9e\u6d32\u767c\u751f\u4e86\u91d1\u878d\u98a8\u66b4\uff0c\u7576\u6642\u570b\u969b\u6cb9\u50f9\u8dcc\u5230\u6bcf\u687611\u7f8e\u5143\uff0c\u4f46\u662f\u5230\u4e862000\u5e743\u6708\u7684\u6642\u5019\uff0c\u6cb9\u50f9\u5df2\u7d93\u4e0a\u5347\u5230\u4e86\u6bcf\u687633\u7f8e\u5143\uff0c\u9019\u662f\u6ce2\u65af\u7063\u6230\u751f\u7206\u767c\u4e4b\u5f8c\u6cb9\u50f9\u6700\u9ad8\u7684\u6642\u5019\uff0c\u80a1\u5e02\u4e5f\u5f88\u5de7\u7684\u5c31\u5728\u9019\u500b\u6642\u5019\u7a81\u7136\u505c\u6b62\u4e0a\u6f32\u4e86\uff0c\u4e4b\u5f8c\u7d93\u6fdf\u958b\u59cb\u8870\u9000\u3002\u800c\u4e0a\u4e00\u6b21\u7684\u91d1\u878d\u6d77\u562f\u671f\u9593\uff0c\u6cb9\u50f9\u540c\u6a23\u4e5f\u662f\u5927\u6f32\uff0c2005\u5e74\u5931\u696d\u7387\u9054\u5230\u5145\u5206\u5c31\u696d\uff0c2007\u5e74\u76841\u6708\u6cb9\u50f9\u6bcf\u6876\u5927\u7d04\u70ba50\u7f8e\u5143\uff0c\u5230\u4e862008\u5e74\u7684\u590f\u5929\uff0c\u6cb9\u50f9\u5df2\u7d93\u4e0a\u6f32\u5230\u4e86\u6bcf\u6876150\u7f8e\u5143\uff0c\u4e4b\u5f8c\u5c31\u767c\u751f\u4e86\u9707\u9a5a\u5168\u7403\u7684\u91d1\u878d\u6d77\u562f\u3002<\/p>\n\n\n\n<p>\u5f9e\u4e0a\u8ff0\u7684\u9019\u4e9b\u4f8b\u5b50\u53ef\u4ee5\u770b\u5230\uff0c\u5c0d\u65bc\u50cf\u7f8e\u570b\u9019\u7a2e\u77f3\u6cb9\u6d88\u8cbb\u5927\u570b\u4f86\u8aaa\uff0c\u6cb9\u50f9\u7684\u4e0a\u6f32\u6703\u5c0d\u65bc\u7d93\u6fdf\u7522\u751f\u5f88\u5927\u7684\u5f71\u97ff\u3002<\/p>\n\n\n\n<p>\u90a3\u6211\u5011\u5c31\u4f86\u770b\u770b\u73fe\u5728\u7684\u60c5\u6cc1\uff0c\u9996\u5148\u4f86\u770b\u5931\u696d\u7387\uff0c\u7f8e\u570b\u57282015\u5e74\u76848\u6708\u9996\u5ea6\u5728\u9019\u6ce2\u7d93\u6fdf\u5fa9\u7526\u7684\u968e\u6bb5\u5931\u696d\u7387\u8dcc\u78345\uff05\u5927\u95dc\uff0c\u9054\u5230\u4e86\u5145\u5206\u5c31\u696d\u7684\u6c34\u6e96\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"910\" height=\"661\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/12-2.png\" alt=\"\" class=\"wp-image-368\" srcset=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/12-2.png 910w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/12-2-300x218.png 300w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/12-2-768x558.png 768w\" sizes=\"auto, (max-width: 910px) 100vw, 910px\" \/><\/figure>\n\n\n\n<p>\u7b2c\u4e00\u500b\u6b65\u9a5f\u5df2\u7d93\u662f\u6210\u7acb\u4e86\uff0c\u73fe\u5728\u7b2c\u4e8c\u6b65\u9a5f\u5c31\u662f\u770b\u6cb9\u50f9\u7684\u8b8a\u5316\uff0c\u6cb9\u50f9\u76ee\u524d\u662f\u8dcc\u5230\u6bcf\u687650\u7f8e\u5143\u4ee5\u4e0b\uff0c\u800c\u4e14\u5e02\u5834\u666e\u904d\u8a8d\u70ba\u6cb9\u50f9\u6703\u7e7c\u7e8c\u7dad\u6301\u5728\u9019\u500b\u4f4e\u6a94\u5340\u9644\u8fd1\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"730\" height=\"442\" src=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/12-3.png\" alt=\"\" class=\"wp-image-369\" srcset=\"https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/12-3.png 730w, https:\/\/blog.roboadvisor.com.tw\/wp-content\/uploads\/2022\/03\/12-3-300x182.png 300w\" sizes=\"auto, (max-width: 730px) 100vw, 730px\" 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