pm here in the russian capital good to have you with us this hour the united states prize the top triple a credit rating has been cut for the first time since one thousand nine hundred seventeen standard and poor's dropped america's ranking to double a plus well this comes after a last minute debt deal earlier this week now already rescued the country from default s. and p. says the spending cuts agreed by congress are one and a half trillion dollars short and if it's not changed it could plummet further in the coming years but the obama administration says the analysis is way off and will damage and the recovery. is in washington for us. 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 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 aaa to double a plus with a negative outlook threatening in fact that the rating could get lowered even more 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 securities that essentially in the pub lapsing 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. kaname in terms of any sort of new spending that could boost growth we saw g.d.p. growth would have 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 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 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 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 and kevin zeese directorate come home america dot us says the rest of the world is now realizing that america is losing its financial dominance the reality is our economy is in terrible shape and the government's actions are actually counterproductive as number of member nobel prize winning economists and other top economists have said the focus now should not be on deficit should be on getting the economy moving in creating jobs unfortunate government is going in the opposite direction focusing on deficit now

is just really choke the money supply even more is the lack of prosecution of wall street executives for a collapse in the economy showed real spinelessness even more bad policy decisions the the regulation of wall street which was led by the guys who caused the problem who work now for obama actually was inadequate i think people see the mystery action of our economy and recognize that the days of us edge of money on the economy are coming to an end. renowned economist richard wolfe told us that many a waking up to the reality that the u.s. economy is crippled. we've had twenty years of being told that our 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 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 the. china of the largest holder of the u.s. debt is immediately reacted to the news of the downgrade saying washington needs to cure its debt addiction beijing also suggested a new stable reserve currency is needed instead of the dollar concerns are also rising in asia third largest economy india where the finance minister called the situation grave. reports now 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 tumbled here people are losing confidence in the american economy obviously there are things that soaring there is thing 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 the difficulty 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. and you should invest as a ditching booms in the wake of what's been a tough week for america's economy so he says invest a. all the asians already know that america's got problems all of us are already moving 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 debt is skyrocketing gone through the debt to 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 quadrupled it's dead 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 u.s. 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 the time great came too late to hit europe's stock markets which have already taken a hammering this week being battered by the eurozone and america's debt difficulties meanwhile the e.u. leaders criticize the u.s. rating agencies blaming then move double standards saying they will create a european one in response analyses done you bushel has more for us now from brussels. we used downgraded trust in the rating agencies to junk. polls the agency admitted a two trillion dollar miscalculation when deciding this downgrade they claim to have the world's best minds working for them hasn't really surprised people here because most know that america's has had unsustainable for many years now well everyone apart from the rating agencies it seems and the day before firms 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. furious about s.

and p's double standards they held with the white house before this decision they briefed 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 that happened last week when the agencies graded the european union countries and their ratings now that suggests that the agencies are going 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 on their 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 . one small debt for a man one giant a black hole for

a government program where in new york to ask what's the difference between debt and those of our leaders. much worse for a government to be and why because we trust the government to do the right thing they're doing absolutely the opposite of that but don't you trust yourself to do the right thing and live within your means i do that so that i can pay off. the largest anti-government protests israel has ever staged are underway across the country the biggest rally is taking place until of it with an estimated one hundred seventy thousand attending so far one street there has already been renamed by israeli town of here after the square where the egyptian revolution took place in cairo. for us. the mood here is event to find the protesters are a mixture of jubilant and defiance they say that they're not going anywhere until

the israeli prime minister benjamin netanyahu meet their demands now today is the third saturday in a row that demonstrators have taken to the streets the police are in heavy presence they are taking seriously the promise of protest organizers that more than three hundred thousand people will take to the streets and it took me some time to reach this alive position all the roads here have been closed off the police have been out in the streets for more than twelve hours now they're off particularly worried that these protests might dissolve into some kind of violence and just walking here i passed hundreds of protesters walking in the opposite direction holding up then as they were all united under the slogan of this demonstration which is the people demand social justice not tonight and not a slow one has been added that slogan is the people are taking back the country and certainly throughout the course of the day we saw polls been going around going out from specific groups from the wives of policeman from social workers from teachers from doctors they said that they were mobilizing the communities and calling on

them to turn out in large numbers here tonight not tonight's protests also comes in the wake of controversial housing mr slater that was passed this week by the israeli parliament the israeli knesset according to protesters here it again allows for only be wealthy to buy housing putting affordable housing out of the reach of ordinary people so that is why you're hearing israelis incredibly angry they say that netanyahu is not only not listening to their demands he is completely out of touch with what people here are thinking this demonstration is mobilized around eight main street and tell of a better known as the last child born of god and for the better part of three weeks that street has been turned into a tin city there are hundreds of tents there way people are sleeping where people are eating they're holding discussions they playing music and they themselves have a thing to the street as to feel a corner tapia square of course being the heartbeat of egypt. here in israel it's also a demonstration that has actually been mobilized by the youth which is what we saw happening in egypt it is also

a demonstration that is receiving support online people are tweeting all the time people are dating posts on facebook they're putting videos and pictures on you tube and certainly have a calling for regime change which is what we heard happening in egypt. when we're keeping across developments in israel and. of its posting comments on our twitter account at the moment that underscore calm she's telling us what's happening the so-called israeli target here ahead of mass rallies tonight and the latest tweet says that the rally started off an hour earlier than planned you can log on to r.t. underscore com to find the latest on this and other developing stories we're covering here. thirty one u.s. special forces personnel and seven afghan soldiers have been killed in a helicopter crash in afghanistan the aircraft was hit by a rocket propelled grenade in the eastern province in the most the biggest single

loss of life for american forces in the country some of the officers on board the helicopter were reportedly part of the same unit that carried out the assassination of osama bin laden and his doctor told me earlier that it shows how the taliban is getting stronger the head of the planned withdrawal. they think the. effect. on the government of america too with a draw all of its forces from afghanistan but they knew that there will be more and afghanistan in the war against the taliban and al qaeda because the taliban are getting ground in afghanistan i mean stronger and stronger. day it is not possible for. foreign troops to confront it because the people of afghanistan. stories at the moment and.

people. continue to protest against. his supporters of set up a tent camp in the center of the capital kiev she was arrested on friday for

contempt of court. several dozen supporters of you are protesting here believing that the case is politicized and being orchestrated directly by president of several hundred more people are stationed in the tent camp at the main main street and key of the prophetic street that's where the court building is we're hearing off constant clashes between supporters of you go and the law enforcement officers is being accused of serious economic crimes including striking unlawful gas deals with russia and unlawful usage of money which ukraine received from signing the kyoto protocol several years back now it is interesting because there have been already comments from russia's foreign ministry which urged ukraine to hold a transparent and fair case. as well as saying that all gas deals which ukraine and

russia signed in two thousand and nine were completely legitimate and were signed in full accordance with the two countries laws there also been a very sharp comments coming from the european union with almost all of the organizations in europe criticizing the current state of affairs the fact that you . has been placed under arrest and they demand that she must be released immediately and that the trial must be held in a transparent way and there were more international news now in our world update for you this syria's foreign minister has pledged free democratic general elections in the country by the end of the year it comes as activists say fresh clashes in the left at least twenty four people with security forces firing on government protesters the six day crackdown is now reportedly killed around two hundred people across the country international condemnation of the violence is growing the u.s. is working on new ways to influence the situation sanctions. seventeen people have been killed and four injured in a multiple vehicle collision in southern china state media says the pilot was

triggered after two trucks collided flipping one of them into the part. an oncoming passenger minibus authorities are investigating whether overloading of the vehicles involved may have been a factor in the accident. back to the u.s. and the death drama seen its top tier credit rating take a knock if you or i get into debt then the bank is all our backs without delay yet it's only now that america which owes trillions is seeing its credit score decline online talk show host laurie hoff an assassin people in new york why americans are so keen on borrowing. why do you think so many people allowed 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 the 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 afford it's all about thinking yes i think so is it worse for you to be in debt personally than 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 we don't you trust yourself to 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 show 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 hold the 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. when next we travel thousands of kilometers east of moscow and also millions of years back in time. we're me far eastern region it's a remote rich area holding russia's largest reserves of precious metals but artie's out of habit has met one team whose treasure lies not in gold but bones. this week the russia close up team is coming to you all week from the far east and

more region now for many this region's distinctive jews who it's proximity to china and its vast reserves of war materials and natural resources 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.v. lot ski is a man obsessed with the power assist a bygone age when dinosaurs rule this part of russia he may have been born in the countries that western areas but it's the far east on tap jurassic history in the region to which he's devoted his adult life to restore her very near this site to be known since about nine hundred forty eight with an unbelievable number of bones a barrett here and i think will be digging for at least another two years there literally everywhere here the ammo region is looking at 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 an order to town or giants on a twelve meter long herbivore found almost exclusively here and it was you the son of the first stops at the fragment of tail bone sticking out of the father and son went on to make paleontology history than has since followed in his father's footsteps it's painstaking work requiring patience and skill in equal measure when we discovered along the way we begin to remove the ground around it from a foreign you with a knife your whole your hand and a show where a girl who are very slow because. more bones in the ground around it. well i visit. 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'm told that these will most likely be fragments of another giant duckbilled planting unique to the region and named in its honor the are more saurus is another previously undiscovered breed credited to team the lot skee which includes natalia also as 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 paid intelligence the poetry and museum each new discovery must be carefully catalogued and examined the aim is to inspire the next generation of dinosaurs hundreds was do not want ensuring the family's feats don't go i'm remembered for the wreckage. on the pier you can see a photo of your blood ski at the excavation site and here you see photos of i'm

going to source this is the skeleton of an annoyance or else what a strange looking reptile isn't it and so learn from the follies of history as miles and this is charles marsh an american polian told just in one thousand nine hundred seven that he visited moscow and announced that there were no dinosaurs in russia and everyone believed him yet luckily u.-t. belonged comes from a long line of scientists who chose to follow their own instincts and secure 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 assy the more regions. twenty six minutes past the hour hand on our to recap of our top stories with me bill dog just a few minutes away from now thanks for staying. this is all to you live in moscow.

to. the history of this place runs through the centuries. a paradise for archaeologists zoo all adjusts and ecological tourists.

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just. wealthy british. margetts. scandal. find out what's really happening to the global economy in the kinds of reports on our t.v. . bringing you the latest in science and technology from around. the future covered. download the official location. called

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caramels cryptography on the new stores the standard and poor's to strip the u.s. of its highest credit rating infuriating the countries and us with china suggesting it's time to find a new reserve currency to replace the. two hundred thousand people have gathered on the streets of israel and another round the president did anti-government mass protests some already compared the country's plight to that of revolutionary. a nato helicopter had been downed in eastern afghanistan killing thirty one u.s. special forces personnel and seven afghan soldiers for the taliban claiming responsibility it's the biggest single american loss since the military operation started. about with more news for us in half an hour from now on the meantime moscow will soon see major jet deals take off while overhead pilots perform spectacular stunts in the sky spotlight focuses on the next two thousand and eleven air show next on r.t. .