Wall Street is probably going rooting for the Houston Astros to beat the Philadelphia Phillies within the upcoming World Series because the markets have historically crashed each time a baseball team from the City of Brotherly Love has taken the crown.
On Sunday, the Phillies — who qualified for the playoffs by clinching a wild card spot — advanced to the World Series after dusting off the San Diego Padres within the National League Championship Series.
Astute observers on Twitter noted over the weekend that the largest economic downturns in our nation’s history have coincided with a Philadelphia baseball team capturing the highest prize.
“The Phillies winning the World Series might be the trigger for a stock market collapse … historical fact,” tweeted a user with the handle Wall Street Silver early Monday.
The Wall Street crash of 1929, the worst stock market collapse in US history that signaled the start of the Great Depression, happened the identical yr that the Philadelphia Athletics won the World Series.
The Phillies beat the San Diego Padres last week within the NLCS, earning a berth within the World Series.AP
In 1954, the Athletics left Philadelphia for Kansas City — leaving the Phillies as the only skilled baseball team on the town. The franchise, founded in 1883, has just two World Series crowns.
Their first title got here in 1980, when the Phillies were led by Hall of Famers Mike Schmidt, Steve Carlton and Pete Rose.
That also happened to be the yr that the US economy went into what was on the time considered the worst recession because the World War II era.
The sharp economic downturn was partly triggered by the 1979 energy crisis, which saw oil production tank on account of the Iranian revolution after the overthrow of the shah and the birth of the Islamic Republic.
Historically, the economy has fared poorly each time a Philadelphia baseball team wins the highest crown.REUTERS
It could take the Phillies nearly 30 years to win one other World Series title once they prevailed over the Tampa Bay Rays in 2008.
While Philadelphia celebrated its heroes, the nation was within the throes of the Great Recession — the worldwide economic meltdown that was attributable to the bursting of the US housing bubble.
The last time the Phillies won a World Series was in 2008 — the yr of the Great Recession.Getty Images
The Phillies’ success this postseason coincides with a turbulent economic environment characterised by record levels of inflation, high gas prices, surging rates of interest, and a downturn within the stock market.
For the reason that start of the yr, the Dow Jones Industrial Average has lost greater than 14%.
The Phillies winning the World Series might be the trigger for a stock market collapse … historical fact.
🐻🧐🔥🔥🔥🚨 pic.twitter.com/rXEdvd15kI
— Wall Street Silver (@WallStreetSilv) October 24, 2022
Economic experts are growing more convinced that the US is facing the prospect of a recession inside a yr.
The Phillies visit Houston to play the primary game of the Fall Classic on Friday.
The Astros earned their World Series berth after dismantling the Recent York Yankees in a four-game sweep to take the American League Championship Series.
