tv [untitled] August 6, 2011 9:01am-9:31am EDT
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seventeen standard and poor's has dropped america's ranking to double plus this comes after a last minute deal earlier this week not only rescuing the country from default some spending cuts agreed upon by congress one trillion dollars short but if not changed the rating could plummet further in the coming years but the obama administration says the analysis is way off and will damage any recovery so you can funnel is in washington. well it really is more than anything a huge a symbolic and unprecedented blow to the united states to its status as a safe investment basically what this credit rating lowering does that it is it really raises questions about the validity of the united states and the ability of the u.s. politically to get its financial house in order so to speak the record here for the american people for the u.s. government could be severe now while this only takes it down from a aaa to double a plus with a negative outlook threatening in fact that the rating could get lowered even more
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in the next two years what it does is it potentially it sends the message that the united states is a risky investment that could send interest rates going up for the federal government and because other borrowing costs are tied to that that means mortgage payments could go up mortgage interest rates can go up car interest rates can go up and really the rest of the u.s. economy could be severely affected now one thing that we do have to keep in mind here is that the obama administration had pointed out that the s. and p. had made an error of about two trillion dollars in. projections in releasing that information now the s. and p. doesn't make these decisions based on any sort of special information they really it really is a political reaction based on facts that are available to just anyone and so the other thing we have to keep in mind here is that these same credit ratings agencies essentially allowed top ratings to continue in the united states at a time when we were investing a lot. of money in these mortgage security is that essentially ended up collapsing
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and pulling down the u.s. economy with it so they don't really have all of that much credibility in the eyes of the world market still however we don't know what will happen come monday when the markets will open and if those interest rates do rise there could be a root ball at this very unstable economic time here in the united states with the passage of this debt deal the u.s. government's hands are essentially tied in terms of stimulating the economy in terms of any sort of new spending that could boost growth we saw g.d.p. growth stalled to almost a crawl in the second half of the year we saw on top of that the jobs report that came out on friday for the united states while it was somewhat positive it actually showed negative growth because it means that more people here in america have given up looking for work so politically there's really not that will in washington to do what's needed to to stimulate growth and financially they simply do not have the tools in their possession in order to improve things here and so while these credit
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rating agencies may sometimes be accused by some financial experts of having missed the mark long ago these small tiny effects in terms of higher interest rates could really really cripple what's already seems to be a worsening recession here in the united states. because on a fourteen well meantime it could go to the list for russia's invest. he says the dog was inevitable. i think it should have happened first of all the crazy agencies are trying to retain credibility in because many wrestlers criticize them over the fact that they haven't recognized the risks with the world economy with the current crisis and i mean this downgrade reflects the fundamental problem with the american economy that they're living beyond their means increasing the debt running huge budget deficits and their political problems which don't make it better i think we're moving towards a basket of reserve currencies and i think china is definitely one of the bigger
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players in the. renowned economist richard wolfe told us that many waking up to the reality that the u.s. economy is simply crippled we've had twenty years of being told that a private enterprise economy is the royal road to success and prosperity forever then we had a crash of that system now we've had a recovery by a government that took care of the banks and insurance companies first and assured us it would trickle down it's not trickling down that's what these unemployment numbers mean that's what the increasing foreclosure of people being thrown out of their homes means and so on the stock market is finally the investment community itself realizing that this system is broken and there is nothing on the horizon to take it out and the anxiety that used to be among all the average people the vanishing middle class and all the people worried about government spending that
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anxiety is now spreading even to the top of the economy as they realize they've gone way too far and may have killed the goose that is laying the golden egg at least for them. china the largest holder of the u.s. debt has immediately reacted to the news of the downgrade saying washington needs to its debt addiction beijing also called for a new stable reserve currency instead of the dollar concerns are also right being raised in a third largest economy out of india where the finance minister called the situation grave it's pretty true the reports from new delhi asian markets are tumbling they were tumbling on friday obviously we don't know what's going to happen on monday in specific reaction to this news but many analysts many financial analysts here predicted this especially after the u.s. debt ceiling debate that took so long and in many ways is what people are saying led to these lower approval ratings i guess you could say so the markets have
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tumbled here people are losing confidence in the american economy obviously there are things that soaring there is think a lots of decisions not specifically being made when it comes to that two point four trillion dollars and cause a lot of people are wondering if it took the u.s. this so long to come to a decision just to raise the debt ceiling how much longer could it take to actually figure out but typically where to cut and asia has a very vested interest in this if you think about what these ratings actually means that means that the united states won't be able to repay a lot of their loans in asia actually hold three trillion dollars in the united states alone so people here are watching what's happening in the united states very closely it's premature to report it right when asian investors ditching bones in the wake of what's been a tough week for america's economy is according to invest or general interest. all the asians already know that america's got problems all of us are already moving
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out of u.s. government bonds we never got out of the first global recession unemployment in america is still higher than it was in two thousand and eight the american dad has skyrocketed and gone through the dead through the roof america is in worse shape now than it was before america spent a lot of money and the people who got that money are better off but the overall situation is much worse america's quadruplet instead america if you take in the consider the things that they guarantee they printed huge amounts of money you know the world has gotten worse the world hasn't gotten better but they sure the us will default that's why people are moving away from us government bonds because everybody knows that the us is in serious trouble and the debt situation is getting worse and worse not better and better and the downgrade came too late to hit europe so stock markets which have already taken a hammering this week being battered by the eurozone of course america's debt difficulties mean all the e.u. leaders have been criticizing the u.s. and rating agencies blaming them of double standards saying they'll create
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a european one in response to the new bushel has details from brussels. we used downgraded trust in the rating agencies to junk status. as the agency admitted a two trillion dollar miscalculation when deciding this downgrade their claim to have the world's best minds working for them hasn't really surprised people here because most know that the mochas has had unsustainable for many years now what everyone apart from the rating agencies it seems and the day before collapsed in the credit crunch they still had aaa ratings on those companies now that made the agencies lose their reputation but people lost their whole savings and triggering the world recession that followed. the rules of furious about s. and p's double standards they held with the white house before this decision they brief them about it when it would take place what would happen and that's allowed the white house to prepare a smooth response to the media and even question the the agency's judgment none of
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that happened last week when the agencies graded the european union countries and their ratings now that suggests that the agencies are to say the very least and as a result the european union is creating its own agencies will do this downgrade for americans who will see themselves having to pay more more interest on their loans and having to pay more debts is bad really for everyone around the world who lend money to america because it raises the risk of not getting that money back. he's done a bushel while one small debts for a man one giant black hole for government later in the program here on our t.v. we are in new york to ask what's the difference between our debt and those of our leaders. it's much worse for a government to be in debt why because we trust the government to do the right thing and they're doing absolutely the opposite of that but do you trust yourself
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to do the right thing and live within your means i do mean dad so that i can pay it off. and eleven minutes past the hour here in moscow you with r t israel is bracing itself for a fresh wave of massive anti-government protests activists are planning a third weekend of rallies all across the country one street has already been renamed by some as is ready to rear after the square where the egypt uprising took place. reports on this. they said today saturday tens of thousands of protesters will be taking to the streets here in tel aviv as well as in several other cities around the country where they'll be holding mass rallies against the government they're hoping to top of the one hundred fifty thousand nationwide who took to the streets last weekend this is the third saturday in a row that protest all be held they are united under the banner the government has
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abandoned the people and the central message coming from organizes is that the people are taking the country back now the plan tonight is for demonstrators to monitor the what's top of all the way to the bishop long to be a tent city has been established the final destination is not far from here at the curia defense compound and there they'll be holding a mass rally presenting a number of demands on the government of the civil speakers several popular singers also prayers and in the last week there have been a number of smaller demonstrations that has been held for civil law was earlier this week taxi drivers blocked off a number of main roads they were protesting against the high cost of diesel there was also another protest among teachers university professors and students and they were united under the banner we education for all and did another demonstration just yesterday we hundreds of parents with strollers took to the streets and they were protesting against the wizened costs and the high costs of having children
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feeling as well the israeli prime minister. has been surprised by the massive supports all these demonstrations and his government is still struggling in terms of how to deal with them essentially what you can hear some people here in israel saying is that in the time the offer was so obsessed with gathering intelligence for the for to live from the mediterranean that he missed the opportunity to see what was happening here under his eyes want to see allah to tell of. well the social cost this is caused by the government policy that for decades allowed the wealth to go into the hands of the rich it was according to go before them from the peace now organization and. in the restaurant two years there were a tween government in a mostly. changed character with these wally economy and we would see the day reach people in these were the most richest families that control most of the big companies in israel enjoying benefits and enjoying their better
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condition to grow and to develop it while they. actually found eighteen in order to have enough money to live here in israel you need a decent environment so this is something that people fear for many years now and this is the first time that to me is where you can hear such a big wave of voters saying we want to change just the system and we want to go back to the more socially policies. well we are keeping a cost of elements in israel and artie's in tel aviv is actually posting comments on our twitter account that underscore calm doing so on what's happening at the so-called israeli toe rear ahead of the mass rallies tonight have a look at your screen right now are checking out the latest tweets one of the one of the most recent ones cites a slogan she's heard that we are taking the country back referring to the welfare state the protesters believe the government has destroyed i'll just simply look onto r t underscore com to find the latest on this and other developing news
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stories that we're covering here on our team. now british intelligence services have allegedly been violating international law for almost a decade a leaked top secret documents suggests agents were permitted to use information taken from prisoners tortured overseas officers were asked to balance how much they expected detainees to suffer against the value of the information they could get they were also given political protection from prosecution human rights activists are demanding an open and fair inquiry but fear that questions will be better with a wall of silence toradol from amnesty international. so. there are a few key reasons why the inquiry is unable to do its job properly and the thrust of these is the rather shocking level of secrecy surrounding the inquiry and much of the inquiry is going to take place behind closed doors and no information will be released to the public without the say so if the government which is it's very
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worrying for an inquiry that's supposed to be you know getting information to the public about what's been going on very much they will see that there will still be an inquiry which is open and transparent and that the government will reconsider. the very problematic protocol that's been put in place. as always so much more of the stories we're covering of course. i heard some of the items are waiting for you on line right now from london a. group of hardline muslims want to show real introduced in the u.k. which could condone. petty theft and i want to try the point check out our section where we draw on all the major stories.
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the people of the united states and our friends and allies will not leave at the mercy of an outlaw regime that threatens the peace with weapons of mass murder is regime as an actor program to acquire and develop nuclear weapons and let there be no doubt about we know for a fact there are there. this we're just being carried out in the direction of dr david kay respected scientist and former u.n. inspector was leading the weapons search in iraq we are determined to take this apart we have a tremendous a group of dedicated american men and women involved in this with the best assets of the intelligence community. and for by. david kay he is not going to be done with this for quite some time david kay wants more time and he says it could take another six to nine months to make a definitive finding ministration is asking congress for hundreds of millions more are six hundred million dollars to fund a continuing search have not yet failed shiny pointy things that i would call
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a weapon before we can draw from conclusions we need to let the iraq survey group complete its work. we were all wrong probably in my judgment. and that is most disturbing. sometimes the true patriots takes the unpopular course but helps their country of origin stakes and even if they come this way at least from patriotism is the last refuge of scoundrels and i think these are scoundrels they have no argument now they have no defense for what they did the country is in a terrible international security situation that i think is perilous so they're attacking the patriotism of other. book about here with r.t.
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live from moscow people loyal to former ukrainian prime minister yulia tymoshenko continue to protest against her arrest supporters have set up a tent camp in the center of the capital kiev she has been arrested over contempt of court on friday had been on trial since june over alleged abuse of power while signing gas deals with russia in two thousand and nine it's all charges that she denies supporters call the case politically orchestrated by the country's current president viktor bout to go look over to the rallies began on friday when they try to block the armored vehicle taking tymoshenko to the place of detention but what dispersed ultimately by police. well let's get some other international news now for you this hour in our artsy world update thirty one u.s. special forces and seven afghan soldiers have been killed in a helicopter crash in the east in the water back province this is according to the office of president karzai the incident marks the biggest single loss of life for american forces in the country the taliban have claimed responsibility for the
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attack saying they shot the chopper down with a rocket propelled grenade. syria's foreign minister has pledged to free democratic the general election in the country by the end of the year it comes as activists say fresh clashes in syria have left at least twenty four people dead the security forces firing on anti-government protesters the sixth day crackdown has now reportedly killed over two hundred across the country international condemnation of the violence is growing and the u.s. is working on new ways to influence the situation beyond sanctions. are now twenty minutes past the hour let's get back to the u.s. debt drama that seen its top tier credit rating taking a knock if you or i get into debt the bank is all over us without delay yet it's only now that america which is trillions is seeing its credit score decline online talk show host lower half of this asks people in new york why americans are so keen on more.
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why do you think so many people allow themselves to get so far and that is the is the age that we live in everybody sees the person next door that they've got the brand new car the star lifestyle and that's what they want is so much advertising and people just wanted to spend money so i think that's the difference between americans and europeans but you have advertising in europe are you just you don't pay attention to it or. i think we pay less attention to it and we probably think a little more about what we need and what we can't afford so it's all about thinking yes i think so is it worse for you to be in debt personally that it is for a government to be into. it's much worse for a government to be and why because we trust the government to do the right thing and they're doing absolutely the opposite of that but don't you trust yourself to
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do the right thing and live within your means i do but i'm in debt such that i can pay it off debt is dead it's bad for governments bad for individuals and the government should show leadership so they've got to clean it up do we really expect our government to get its act together if we can't get our act together for small families we can only hope that individuals and the government will step up and make a difference whether or not you're in debt personally the bottom line is we've become a planet of debtors so it might be time for all of us to rethink what it is to live within our means. so i could have you with us here and next we travel thousands of kilometers east of moscow but also millions of us.
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and now we're in the far east and i'm more region it's a remote but rich area holding russia's largest reserves of precious metals but after years of us have it has met one team whose treasure lies not in gold but rather in balance. this week the russia close up team is coming to us all week from the far east and more region now for many this region's distinctive jews who its proximity to china and its smallest reserves of war materials and natural as the will says but the one paleontologist and his team it's the bones of ancient dinosaurs discovered deep within the ground here that will put this region firmly on the map. u.-t. beloved ski is a man obsessed with the power of a bygone age when dinosaurs rule this part of russia he may have been born in the country's north and western areas but it's the far east untapped jurassic history in the region to which he's devoted his adult life to restore her very near this
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site to be known since about nine hundred forty eight an unbelievable number of bones are buried here and i think will be digging for at least another two years there literally everywhere here we are no region is lucky one of the few functioning archaeological sites only here can a site boast of having produced a complete dinosaur skeleton that discovery made over a decade ago led to the full recognition of a new breed of dinosaur a lot a ton or giant swan at twelve minutes a long herbivore found almost exclusively here and it was you the son who first stops at the fragment of tail bone sticking out of the father and son went on to make paleontology history van has since followed in his father's footsteps it's painstaking work requiring patience and skill in equal measure one who discovers along the way we begin to or him or the ground around it probably forrard you for your whole your current and a show where
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a girl for very slow because zero can be more balanced in the ground around it. why was it. yuri and his team have been excavating this site for the past three years and already they found well over one thousand dinosaur bones approximately sixty five million years old but they believe that the bones of hundreds of more dinosaurs i get to be found within this small plot alone i am told that these will most likely be fragments of another giant duck billed plant eater unique to the region and named in his honor the are more saurus is another previously undiscovered breed credited to team the last ski which includes notes hal you're also a scientists it was she who came up with both dinosaurs names as well as taking day to day charge of running the region's only painterly g. the board tree and museum each new discovery missed be carefully catalogued and
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examined the aim is to inspire the next generation of dinosaur hunters was to not want ensuring the family's feeds don't go i'm remembered for that. here you can see a photo of your blog ski at the excavation site and here you see photos of i going to soras this is the skeleton of an m r saurus what a strange looking reptile isn't it and so learn from the follies of history that is my us and this is charles marsh an american poli ontology just in one thousand nine hundred seventy he visited moscow and announced that there were no dinosaurs in russia and everyone believed him yet luckily yuri belong comes from a long line of scientists who chose to follow their own instincts and secure a more as place in the history books as one of the world's foremost sites for paleontology it was their determination and no small amount of digging that revealed a dinosaur jackpot alice a bit arty the more regions. are to recover the top stories with me wrong research
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was a short order. this street still keeps its secrets but denounced time to reveal the hidden in the soviet files. this is a cable from the us embassy in colombo but up to talk about here it apparent june seventh incident of extrajudicial executions the military record it's a press that on that day filled nine gorillas in from back to desiccation by instructs young couldn't you know that and then strongly suggest however that the nine were executed by the army and then dressed in military fatigues. picked up. to explain how you know this kind of phenomenon where
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bodies are dressed up as guerrillas and presented as killed. i mean this and this idea that you need to produce bodies actually encourage paramilitary collaboration this is a cia document central intelligence agency they knew about these activities they knew they were happening they knew about links to paramilitary groups and yet usaid continued to.
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talk about it with. a quick recap of the top stories now standard and poor's has stripped the u.s. of its highest credit rating infuriating the country's lead as china has already said it's time to ditch the dollar as the reserve currency. is priced for another round of unprecedented antigovernment protests some have already compared the country's plight to that of a revolutionary. an inquiry continues into a bombshell case suggesting british officers wearing shoes how much prisoners should be tortured to get information but the closed doors probe question. we take you to the small caucuses country which has spent years healing its deep stuff next right here on out.
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