The year the baseball team won the championship and the economic downturns of 1929, 1980, and 2008 overlapped, rumors spread
The Philadelphia Phillies of the Major League Baseball (MLB) in the United States are racing to win the championship in a situation where fears of a recession are common.
The Wall Street Journal (WSJ), in an article entitled ‘Prepare for an economic crisis if the Philadelphia Phillies win the World Series’, advised that every time a baseball team from Philadelphia wins an economic crisis occurs, “hold your wallet tight” (?) he did.
According to the WSJ, in 1929, just after the Philadelphia Athletics (now Oakland Athletics) won the World Series, in October 1929, the New York Stock Exchange crashed “Black Monday”, followed by the Great Depression in 1930.
The recession came in the early 1980s when the Phillies, the only baseball team in Philadelphia after the Athletics left for Oakland, won their first championship in 1980.
The recession ended in 1983 when the Phillies finished second in the World Series.
Following this, 2008, when the Phillies won the World Series for the second time, coincided with the global financial crisis that began with the bankruptcy of Lehman Brothers.
The view that it was a strange coincidence that the Philadelphia baseball team, which has three ‘criminals’, entered the World Series again this fall, when the market was crushed by the worst inflation in 40 years and aggressive interest rate hikes by the US Federal Reserve. outpouring
A follower of the ‘Morning Brew’ newsletter tweeted, “The Astros must save the American economy,” while cheering for the Houston Astros as they faced off against the Phillies in the World Series. Towards the Padres, he said, “The Padres could have prevented the coming recession…”
The correlation between Philadelphia’s victory and the economic crisis is a theory without any scientific basis (?), but it is considered more than a joke by some investors and some superstitious sports fans who have already been weighed down by fears of recession and stock price. decline The atmosphere is brought in.
Moody’s Analytics chief economist Mark Zandi, who grew up in suburban Philadelphia, jokes that whenever the Phillies win so narrowly, “something is deviating from the trajectory of space.”
However, the argument that the victory of the Philadelphia baseball team is necessarily a harbinger of an economic crisis is less convincing, given that the Athletics won several times before the Great Depression during the Philadelphia era.
“The coincidence is interesting, but the prospect of a recession has nothing to do with the Phillies,” said Bruce Van Thorne, CEO of Citizen Financial Group, which sponsors Citizens Bank Park. the home of the Phillies did.
/happy news
