Hoping for Better Angels

When a strike is thrown in baseball, it gets recorded as a K in the box score. This is a peculiar letter to use, but sportswriter Henry Chadwick already assigned  “S “ to sacrifice (later changed to single), so he used the last letter of struck to identify when a player struck out. Even better, the K could be written backwards if the batter did not swing at the final strike of his at bat.

K’s have more recently been used to describe the state of wealth/income distribution in America. In this description, a portion of America is experiencing relative improvements of their income statements and balance sheets; this is usually comprised of high-income households and asset owners. Meanwhile, those represented by the descending arm face greater challenges, especially as essentials like food, housing, borrowing costs, and fuel increase faster than their incomes.

Atlas has long been fond of the Los Angeles Dodgers, but the K was top of mind when it was announced that the ownership of the other “Los Angeles” team was changing hands. Stan Kroenke is reported to be purchasing a controlling interest of the Angels, now valued at $4 billion. This will add to his collection of professional sports franchises as he already owns the NFL’s Los Angeles Rams, the NBA’s Denver Nuggets, the NHL’s Colorado Avalanche, MLS’s Colorado Rapids, and Arsenal F.C. in England’s Premier League.

It’s tough to find a greater example of the upward arm of the K. Meanwhile, many Americans are feeling like they are striking out. Each day they swing their bats, but even getting to first base is getting more challenging. Stan Kroenke is buying the Angels during a period of distressed outcomes for the team and likely wants to turn their fate around. Americans in the lower arm of the K could use a similarly visionary turnaround themselves, since they can barely afford a ticket to the game. Economic statistics often focus on averages, but averages can obscure widening gaps. The hope for America is that more households could find their way into the rising arm of the K.