(Correction: I was supposed to say Friday, November 6th and said "11th" by mistake. So sorry.)
There is a lot of confusion over why that Russian passenger jet went down on the Sini Peninsula. The British say it was a bomb, and ISIS has taken credit for killing more than 220 people. Usually, when you kill more than 200 people, you are a little sheepish, but not ISIS. The group wants credit for the murders of Russians and have almost demanded they get the credit. What a sick group of people. That said the jury is still out on what exactly happened to the Russian passenger jet. The U.S. and Russia say they don’t have conclusive evidence it was a bomb. Some suggest the tail of the plane fell off because it had damage to it years ago and it was not repaired correctly. If it was ISIS that killed those Russians, tourism in that part of Egypt will come to a screeching halt.
Friction and war talk is also heating up in the South China Sea where China has built islands and claimed territory 600 miles from its shores. The U.S. is sending war ships to the islands and announced it will do so on a regular basis. China is reacting angrily and says its sovereignty is “threatened” and calls the U.S. action “highly-dangerous.”
Fed Head Janet Yellen is doubling down on the rate hike talk. She told Congress this week a December rate hike is “a live possibility.” Folks like David Stockman say the Fed should raise rates ASAP. Other people say the Fed can’t raise rates, and if it does, stock and bond markets would tank. The IMF has been continually warning the Fed not to raise rates. It is beyond me that the Fed does not know what it’s going to do little more than six weeks from now.
Join Greg Hunter as he analyzes these stories and more in the Weekly News Wrap-Up.