U.S. President Barack Obama is pledging to accelerate the pace of federal spending to create more than 600,000 jobs in the next few months.

The past two days have brought promising data on the employment situation in the country. Both the weekly jobless claims data put out yesterday and the jobs report today suggest that the recession may be at an end.

With rising current mortgage rates, the speed of economic recovery is once again in question. Potential home-buyers faced a fourth straight week of rate hikes among 30 and 15-year fixed as well as 1 and 5-year ARMS. Up until them middle of May, the Feds had been successful at keeping a lid on mortgage rates, leading to a spike in applications nationwide.

Peter Schiff has got some competition. Where Schiff has become a crisis-icon there are those individuals who also foresaw the same set of circumstances unfolding on the world stage and quietly took action for both themselves and their investor clients.

Americans are sick of being lied to. Politicians, bureaucrats, Wall Street CEO's, we can't trust a word that comes out of any of their mouths. As a nation we're stuck in an endless skeptical limbo. We're like a plane-load of passengers held captive on a red-eye circling high above La Guardia desperately wanting to land but the pilot keeps coming up with excuses blaming the delay on everyone from the flight attendants to the ground crew.

The recession we find ourselves in is unpleasant but it is not dire. It is a long overdue correction of an over buoyant market, fueled by ignorance, greed, excessive borrowing, vested interests and foolishness. Equally, the reaction of most of the population to the onset of the recession has been extreme and is making the problem worse than it needs to be.

The number of people filing first-time unemployment claims fell 12,000 last week to 631,000, according to a new report. This is good news for U.S. economy and for boosting confidence in investors.

The Obama administration is reportedly working on a major overhaul of the U.S. financial regulatory system, in the wake of the financial meltdown blamed in part on inadequate supervision of the complex system.

While there is plenty of finger pointing to go around as to who is to blame for the current recession and widening crisis, most would agree that predatory mortgage and credit lending practices played a role in the damaging of financial markets. As a result, we have quietly awaited steps that will lead to tighter restrictions on lenders and how they’ll be able to operate in the future.

“There are three key ways home schoolers are positively impacting the US economy, and we should be paying close attention to this growing population,” says Josephine Nicholas, Chief Operating Officer of Published Daily, a new startup tech company whose aim is to help professionals better communicate and market to their networks.

Good news, in that the pace of layoffs slowed in April. Companies cut 539,000 jobs, the fewest in six months. Bad news, in that the unemployment rate climbed to 8.9%, the highest since late 1983.

Today, May 7th, is D-Day for America's largest banks. The Obama administration will release, after the close of Wall Street, the bank stress test results to gauge their stability. There have already been leaks about the bank stress test results, however, though the actual results have not been released.