As I examine the the broad spectrum of economic news lately I'm starting to see some encouraging statistics that point to the beginning of a significant economic recovery in the US. Although the unemployment rate increased this past month, the rate of job losses has decreased. Employment is a lagging economic indicator, so any improvement here is a sign that other indicators are already on a significant upward trend.

I've noticed a tremendous surge in the value of the major bank stocks on Wall Street, with some banks enjoying 100-200% gains in stock value over the last couple of months. For those who have investments on Wall Street it looks like profits will be soaring over the coming months. I'm also encouraged that the US auto industry will survive because of the much needed restructuring and renegotiations to restore them to profitability.

There are some areas in this country that will feel the pain of this recession long after most of the country is in recovery, but I think in the long run our nation as a whole will emerge stronger than ever with smarter regulations in place to avoid the same mistakes that brought us to the brink of economic ruin.

There are some that continue to say that our government is Socialist, but this administration has made it clear that government control of the private sector will be temporary, and that free enterprise with common sense regulations is the overall goal. Our government took extraordinary actions in desperate times, and I am convinced that this was a necessary and proper action to avoid a global economic collapse.

Many of those who are complaining the most are already enjoying tremendous profits as this recovery begins, and I think they'll soon realize that the governments actions over the past several months were a necessary risk that will make our nation stronger and more economically stable. I still believe we must always keep a close watch on our government's actions and question our leaders if we feel they've strayed from our core beliefs and from the Constitution, but I'm comfortable that their current strategy is sound considering the incredible number of issues they're currently dealing with.

I'm optimistic that the unemployment rate will begin to drop over the next few months, but I think it could drop much more quickly if our government did more to stop illegal employment and immigration. There are many jobs being taken by these illegals that could be available to currently unemployed US citizens, and here in Tennessee many companies are hiring illegals because of the lack of enforcement. I see this every day, and it's so obvious and out in the open that I'm certain our local officials are intentionally turning a blind eye so that their constituants can enjoy a cheap labor pool.

I don't have a problem with legal immigrants coming here to find a better life, but illegal immigrants are doing great damage to our legal workforce and to government budgets. Our government needs to put more pressure on countries like Mexico that have great wealth, but do little to provide for their own citizens. If these illegals had more job opportunities in their own country they wouldn't be here undercutting Americans for jobs.

Things are looking better, but we obviously have some big problems to solve before we can really get this country ready to compete in the global economy.

It was a rough tornado season for many folks here in Middle Tennessee, but it seems like things are starting to calm down a bit as we get into May. Things are green again and the warm days are a welcome change.

If I was still up north there would still be a chance of snow, and I have to admit that I don't miss the white stuff at all! I'm looking forward to some good fishing in the streams and lakes around here, and I hope to get out and enjoy the outdoors a little more than usual this year.

Have a wonderful week!

John