recession

  • 03 Nov 2009 at 8:48 AM
  • recession

Phillies Win, Threaten To Undermine The Recovery

phils.jpgPHILADELPHIA–The New York Yankees failed to end the World Series last night with a victory over the Philadelphia Phillies. For the superstitious among you, especially the Yankee fans, there’s an extraordinarily stupid “study” that says you should be extra fearful of a Phillies comeback in the series.
Since 1930, when the Yankees have taken home the Commissioner’s Trophy, the U.S. gross domestic product has grown an average of 5% in the following year. On those exceedingly rare occasions that the Phillies are the last team standing, things don’t go so well: In 1981, a year after the Phils’ first-ever championship after 97 years of futility, the economy grew a paltry 2.9% amidst sky-high interest rates and 7.5% unemployment. This year, the reigning champs have presided over what seems likely to be negative economic growth.
Here’s still more reason to root for the Bronx Bombers: The only other time these two teams have met in the Fall Classic, in 1950, the Yanks swept the Phils, leading to a prosperous 7.7% increase in GDP in 1951.

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Last night at the “All Things D” conference sponsored by the Wall Street Journal, Rupert Murdoch told attendees that Democrat Barack Obama will win the presidential election by capturing the key swing state Ohio and that activist shareholder Carl Icahn will lose his proxy fight to take over Yahoo. He also said the US economy face tough times for the next 18 months.
Details after the jump.

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