Every time a Philadelphia baseball team wins a World Series—1929, 1980, 2008—an economic crisis follows. That’s one reason to root for the Astros this year.
then that the team’s success could be a “leading economic indicator.”
Morning Brew tweeted about the Phillies quirk on Sept. 21, then revisited the topic as the team continued to win. Neal Freyman, its managing editor, says he knew the thing had traction when his mother called, reporting that the topic was just brought up at a business meeting by colleagues, unaware that her son gets some of the credit/blame.
“Coincidences are interesting, but sliding into a possible downturn has nothing to do with the Phillies,” says Bruce Van Saun, chairman and chief executive officer of Citizens, after praising the team’s grit. “We look forward to hosting a World Series victory while continuing to root for our economy.”Sam Stovall, chief equity strategist at investment-research firm CFRA Research in New York, notes there is a reverse correlation here. Phillies pain might mean stock gains.
Jimmie Foxx of the Philadelphia Athletics scores the first run in the 1929 World Series and dooms the country to years of economic hardship.The indicator hasn’t worked as well in recent years, but it nonetheless has been right after 41 of the 55 Super Bowls, a 75% rate. That is better than a lot of economists’ predictions.
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