Soaring mortgage delinquency rates and continued high and growing unemployment rates signal long term economic problems that the our Federal reserve leaders are continuing to ignore.

The Fed has continued to under estimate the depth of the trouble that is facing the average consumer. There are record levels of bankruptcy filings. Record levels of continuing unemployment claims and persistently weaker housing prices. These statics to meet indicate that there will be long term weakness in the economy extending deep in the first term of the Obama Administration.

The Obama administration does not seem to care much about these issues the seem content to let Chairman Bernanke continue to call the shots on the economy. He has so often underestimated the magnitude of the problems yet the administration lets him continue to take the lead without question.

Obama needs to revisit this soon before we start to have soup kitchens again in our country


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