The Economy Is A Grumpy Cookie

Like a grumpy cookie, the U.S. economy refuses to pull itself out of a government-induced “socialist shame spiral.” And why would it?

Seriously, people. Even delicious homemade cookies – once a pillar of our chocolaty-delicious free market system – are starting to resemble former Soviet leader Leonid Brezhnev these days.

Anyway, the American recession – which was supposed to be showing signs of letting up as a result of the trillions of dollars government has spent, lent and pledged (oh, and printed, too) – is still going strong.

According to data released last Friday, the national trade deficit rose for a second consecutive month in April, climbing 2.2 percent to $29.2 billion. Also, the real estate market continued to slide, as the median price of homes sold in the first quarter of 2009 was 14% off of last year’s mark.

On the employment front, the number of available jobs fell to 2.7 million in March – which is the lowest number since the U.S. Department of Labor started tracking job openings eight years ago.

Last March, there were 4 million available jobs.

Still, many on Wall Street are optimistic that the economy is turning a corner, citing the fact that last week’s initial jobless claims came in at 601,000, which was below market expectations of 615,000.

Also, retail sales jumped by half of a percent last month, which was more than twice the increase initially forecast.

Oh wait … that’s not counting automobile sales, apparently. Or “Brezhev’s Finest” chocolate chip cookies, for that matter.

Never mind …

Pic: Chron.com

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