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Read the article: Flight Paths Over Turkey Analyzed; Obama Defends Turkey; Choose Your Friends and Enemies Wisely; Merkel Madness
Read More: Richmond Fed Region Negative Again; Inventories Suggest Outright Disaster on Horizon
The Financial Times reports Turkey Shoots Down Russian Fighter Jet on Syrian Border . Vladimir Putin has accused the Turkish government of providing financial and military support to Isis, in a furious response to the downing of a Russian fighter jet near the Syria-Turkey border.
Originally posted here: Why the West Won’t Hit ISIS Where it Hurts
Existing Home Sales Decline, NAR Calls Report "Disturbing"; First Time Buyers Decline Third Year; Housing Clearly Weakening Existing home sales came in a bit under Bloomberg Econoday Consensus , down 3.4% in October. Year-over-year trends are weakening. Sales of existing homes are not a source of strength for the economy, down 3.4 percent in October to a slightly lower-than-expected annualized rate of 5.36 million.
Link: Housing Rebound Didn’t Lift Economy as Much as Economists Expected: Why?; Six Questions for Zandi