Ever wonder what the 250 PhDs at the Federal Reserve spend their time on? At first glance, you might think they spend their time working to find solutions to America's economic problems. Ha! Think again. You know the major issues today: We have 17% real unemployment and are trying to avoid a lost decade similar to what happened in Japan. It seems the San Francisco Fed has nothing better to do than study the correlation between GDP growth and the SF Giants winning the World Series. Honest. According to the San Francisco Fed, GDP growth averages 10.2% in the year following a Giants' victory in the October classic. Wow, I wonder how many PhDs it took to discover this fact? Maybe this new research report will lead to a major policy initiative for the Federal Reserve. Forget QE and QE 2: The Fed could simply mandate a Giants' victory every year to ensure strong economic growth.
Black Swan Insights
Black Swan Insights
Excellent take on the fed.
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