Tuesday, November 17, 2009

I Dare You to Try to Argue Against It

According to the number crunching wizards at the Wall Street Journal, in years when the Yankees win the World Series the economy does well. In fact:

Since 1930, the Yankees — who would clinch their 27th World Series trophy with a win tonight — have been a harbinger of an average of 5% GDP growth in years following a series victory, healthy by any measure. In years in which the Yankees didn’t win the World Series (either they lost or didn’t make it) U.S. output expanded at an unspectacular 2.9%.
When the Phillies win on the other hand, you can be sure that financial disaster is on the horizon. Of course they won last year and look what happened to the economy. In 1980, when they won interest rates were above 20% with high unemployment. The only time Philadelphia repeated as World Series Champions was 1929-1930 (it was the A's then) and I'm sure I don't need to remind you what happened in October of '29.

It should also be noted that the last time the Yankees beat the Phils in the Series the GDP grew the next year at a rate of 7.7%.

You don't have to cheer gratefully, but I do expect some modicum of appreciation for rooting for the financial improvement of our economy.

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