Roll out the Nobel! Economist cracks stupidity equation

Via BS today comes the economics community cracking the code for where the Sun don’t shine:

Australia’s economy slowed sharply in the second half of last year yet hiring, from a broad perspective, did not.

It’s still running at a relatively brisk pace of over 270,000 per annum, or just over 2%.

Many believe that merely reflects that employment is a lagging economic indicator, reflecting strength in the economy in the past rather than today. If that’s correct, the sharp deceleration in the economy last year should see employment growth begin to slow in the months ahead. Most leading indicators suggest that’s likely to take place.

However, not everyone agrees.

According to the Commonwealth Bank, the relative strength in hiring, despite the slowdown in the economy, can be explained by the fairly complex equation below.

I read this as a job application for the governorship at the RBA. This is why MB often reads like The Betoota Advocate without having to do anything but report on economics unembellished.

That said, I think it only fair that the MB community get the chance to respond with an equation of their own. Here’s my effort:

Economist = media x clown squared

Better known as E=mc^2 or the relative speed of stupidity in time and space.