Mixed picture of the economy emerged today. The housing market is still in decline: National Home Price Index posted a drop in housing prices of close to 20% in March compared to the same time last year. The voices proclaiming that the housing market is close to “bottoming-out” are hushed today. Consumer confidence, however, grew in May, as measured by the Conference Board, compared to the previous month by slightly over 5%. It seems that consumer attitudes are not closely linked to the value of their assets, the value which for the majority of Americans has been declining (see the housing market). Neither is consumer confidence shaken by the high and climbing rates of unemployment. Consumer confidence appears to have that certain “je ne sais quoi “making it intriguing and nausea-inducing to watch all at the same time. We can’t help but wonder if this recent uptick in confidence is another bout of irrational exuberance on the part of the American consumer, urged perhaps by spring and the increase in daylight hours. The Wall Street does not pause to reflect, but instead grabs any bit of good news by the horns and runs with it. That’s what makes Wall Street… well, Wall Street. The stocks rallied today with the Dow rising 196 points, or 2.36% and NASDAQ and S&P500 rising 3.4 and 2.6 percent respectively.