from default s.n.p. says the spending cuts agreed by congress are one and a half trillion dollars short and if it's not changed the rating could plummet further in coming years the obama administration says the analysis is way off and will damage any likely recovery lucy caffein of has more from 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 in the next two years what it does is it potentially 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 in a collapsing 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 stimulate. in the economy 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 the united states while it was somewhat positive but 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 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 max wolf a senior analyst at green cross capital believes this may be just the beginning of a more serious trouble for the u.s. economy. it sets up an environment in which symbolically politically and economically the united states leadership the global economy president other kind of strike against it does reduce people's confidence people get scared that we run away from riskier assets i think the bigger risk is to that we're going to market with a very fragile situation in u.s. housing as well as student loans car loans credit conditions generally and i would remind people to the s.n.p. didn't just downgrade the united states they put us on further down grade watch so they're suggesting that this downgrade may be the big big inning of a process and not be here i do think that the leadership of united states here for the dollar has come in for increasing question over the last few years we know the

direction that this is heading in more or less down the problem we have is that there is no other currency present the position to fill the shoes of the u.s. dollar i mean the euro normally mentioned as a possible replacement is in the shape that makes. the dollar situation looks pretty good right now so clearly that doesn't look likely but you may see regional currencies emerge with euro's regal's of renminbi here and even brazil you really are taking up some of the position that the dollar we have in their respective world regions china has immediately reacted to the news of the downgrade by suggesting a new stable reserve currency is needed instead of the dollar concerns are also rising in asia is third largest economy india where the finance minister called the situation grave or his prius rita has more 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 that 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 think a lots of decisions not specifically being made when it comes to that two point four trillion dollars in cuts a lot of people are wondering if it took the u.s. this along to come to a decision just to raise the debt ceiling how much longer could it take to actually figure out specifically 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 asian investors are ditching bonds in the wake of what's been a tough week for the u.s. economy according to investor and author jim rogers. 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 still higher than it was in two thousand and eight the american debt has skyrocketed and 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 quadruplet instead america if you take in the consider leave things that they guaranteed they printed huge amounts of money you know the world has gotten worse or hasn't gotten better but they sure the us will depart 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 better and. america's credit rating gets downgraded by a notch some fear the move could spark another black monday on international stock

markets leaders criticize the rating agency standard and poor's accusing it of double standards and promise to establish a european agency in response or daniel bushell has the details. we used downgraded trust in the rating agencies to junk. the poles 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 the unsustainable for many years now with everyone apart from the rating agencies it seems and the day before collapsed in the credit crunch they still had aaa ratings all those companies know that made the agencies lose their reputation but people lost their whole savings and triggered the world recession that followed. furious about as to these double standards they held with the white house be fooled this decision they briefed them about it when it would take place

what would happen that's allowed the white house to prepare a smooth response to the media or even question the the agency's judgment of the happened last week when the agencies graded the european union countries and the ratings now that suggests that the agencies are saying the very least and as a result the european union is creating its own agencies will do this. for americans who will see themselves having to pay more more interest on their loans and having to pay more on that 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 man one giant black hole for a government coming up later we ask what's the difference between our debt and those of our leaders. 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 don't you trust yourself to do the right thing and live within your means i do mean debt is such that i can pay it off. to other news now on r t a wave of mass anti-government protests is underway across israel the biggest rally is happening in tel aviv with up to a quarter of a million people attending one street has already been renamed by some protesters as israeli talk or year after the square where huge it's revolution happened artie's policy or has more. the mayfair is electrified with her head and a mixture of jubilation and defiance they say they're not going anywhere until the israeli prime minister benjamin netanyahu meets their demands put his organizers have been warning that some three hundred thousand people will take to the streets not only of tel aviv should also jerusalem and several other cities tonight and still to today whether or not three hundred thousand people are here but where i'm

standing actually had been tell you that there are tens of thousands of people not police have been out in full force for at least twelve hours a total of all those leaving to the mission and in the time it took me to pass through the security checks that cost hundreds of protesters walking in opposite direction holding a ban is no united under the slogan office demonstration which is the peaceful demond social justice and that's what they sing in right now tonight we hear anonymous logan also that people will take back the country yet tonight also making the numbers are large groups of wives of policeman a social workers our teachers our doctors all of them throughout the course of the day saying that they were mobilizing the communities and ordering them to come to the streets tonight's protests also comes in the wake of controversial housing legislation that was passed earlier this week by the israeli knesset all the israeli parliament and according to protesters here it caters to the reach the rich

again making affordable housing also the reach of ordinary people now remember to believe the comparison is being made between what we see in here in israel and what has been happening and continues to happen in neighboring egypt this demonstration is sainted around a main street in tel aviv known as what's child boulevard and there are tens upon hundreds of tents on that street people have been sleeping there they've been eating they've been holding discussions and meetings they've been playing instruments essentially they've been living their lives on the street that some people here have dubbed tough to square. corner of course being a reference to the heartbeat of egypt and revolutions a city that is a comparison we all still on seeing young people come to the streets here this is a demonstration and it's all mobilized by the youth in much the same way as it was in egypt the demonstration is also taking place online with people constantly tweeting with people taking posts on facebook facing pictures and videos on you

tube and like we saw in egypt people kept calling pull change how do you break the prime minister benjamin netanyahu has been very quiet in his response to the much the same as that are being made to president hosni mubarak was at the top topic that belief said shift today friday the opposition he deceived me issued a scathing attack against the technology saying that not only was he out of touch with the people but the o.t.s. that he was staying with to try and crush these demonstrations and the only thing that sonali have said in the past few days except that imitation is part of a mass movement people in the country thirty five here is very catching people to mobilize people are saying they go nowhere and a lot of the government to meet the demands or netanyahu needs policia seen television. knesset member daniel ben-simon says prime minister netanyahu doesn't realize the protests are rooted in the public's interest not in political rivals.

people hear yelling shouting us keeping industry i'm talking about tens of thousands he won't see the police shooting. the put this is it's a very polite very strong very polite as to how to change the policy of the government and how to have a better life in israel for the time being they have not been any wounded in the last three and two weeks i don't think it will be different in the coming weeks this is the shrike of usually professionals it's not of unemployed people we have almost no in the ploy but you do everything and see if you can not have a decent life this demonstration that has no right wing or left wing views it is most of the mainstream israelis who feel so bad about the home they live and they go to destroy like tonight and maybe next week and i don't think mr netanyahu gets the right view of these demonstrations he thinks that political parties all behind

it and he is wrong. 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 eastern bardach province instead it marks the biggest single loss of life for u.s. forces in the country some of the officers aboard the helicopter were reportedly part of the same unit that carried out the assassination of osama bin laden benjamin from the anti-war movement the anti-war movement code pink says the us has caused too much damage in afghanistan it's time for them to pull out. what we have seen in these last ten years of endless war is that the presence of u.s. troops is strengthens the taliban and gives the taliban a reason for being and the more that the u.s. troops continue to be there. the violence will continue a report recently came out from the international crisis group that showed that despite billions of dollars in international aid and over one hundred thousand nato

forces the afghan people are not able to be secure everybody knows that this crisis has to enter negotiations the sooner it happens the better and i think this crash is really a time when we should say to ourselves in the united states how many more of our soldiers' lives are we willing to sacrifice for an unwinnable war is no longer in in afghanistan we have moved on to pakistan somalia yemen the u.s. has no reason to be fighting the taliban the taliban never attacked us in the united states and only attacks our soldiers because we are occupying their country so i think with the financial crisis in the united states and now this tragic death of thirty one more of our soldiers it is time to really say if you want to say victory and pull out or whatever but it's time to get out. turning now to other stories making headlines across the globe syria's foreign minister has pledged free

democratic general elections in the country by year's end this comes as activists say fresh classes and clashes in syria have left at least twenty four dead and with security forces firing on anti-government protesters the six day crackdown has now reportedly killed around two hundred people across the country international condemnation of the violence is growing in the u.s. is working on new ways to influence the situation beyond sanctions. seventeen people were killed or injured in a multiple vehicle collision in southern china state media says the pilot happened after two trucks flipping one of them onto the path of an oncoming passenger minibus authorities are investigating whether overloading of the vehicles involved may have been a factor in the accident you know. our web site always has plenty more stories and videos for you here's was a click away right now. check out dramatic video of firefighters battling a warehouse blaze in the south of moscow. and from london

to london stabbed a group of hard line muslims hope to impose your real law in the u.k. which could condone amputations per petty theft to illustrate the point check out our cartoon section where we draw on all major stories. people loyal to former ukrainian prime minister yulia timoshenko continue to protest against her arrest her supporters of set up a tent camp near the center of the capital kiev she was arrested friday for contempt of court. has more. several dozen supporters of you are protesting here believing that the case is politicized and being orchestrated directly by president victory on the court which several hundred more people are stationed in the tent camp at the main see the main street and because that's where

the court building is we're hearing off constant clashes between the supporters of you to 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 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. 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. well turning back to the u.s. debt drama that seen the top tier credit rating take a hit now if you or i get deep in debt the bank is on our backs without delay and yet now that the u.s. which owes trillions of seeing its credit rating score decline. people in new york why americans are so keen on borrowing. 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 want you 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 into personally that it is for a government to be in that. 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. we're taking the next thousands of kilometers east of moscow and millions of years back and try. we're traveling now in the far eastern armory genera mode but rich area holding russia's largest reserves or precious metals artie's alice haber has met one team whose treasure lies not in gold but in bones this week the rush to 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 is the will says but the one paleontologist and his team it's the ancient dinosaurs discovered deep within the ground here that will put

this region firmly on the map. u.t.v. lot of ski is a man obsessed with the power of a bygone age when dinosaurs ruled this part of russia he may have been born in the country's new western areas but it's the far east untapped jurassic history in the region to which he has devoted his adult life there to mr necker very near to this side 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 when they literally everywhere here the ammo region is located 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 a twelve mr long heard of or found almost exclusively here and

it was you the son who first spotted a fragment of tail bone sticking out of the father and son went on to make paleontology history a 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 remove the ground around it from a foreign. your current. where a girl for very slow because zero can be more balanced 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 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 lot skee 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 paleontology the burra tree and museum each new discovery mist be carefully catalogued and examined the aim is to inspire the next generation of dinosaur hunter this. one ensuring the family's feats don't go i'm remembered for that. here you can see a photo of your skill 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 stranger to read to us and it and to learn from the follies of history so as miles and this is charles marsh an american parent ologist in eight hundred eighty

seven he visited moscow and announced that there were no dinosaurs in russia and everyone believed him yet luckily unity belongs comes from a long line of scientists who chose to follow their own instincts and secured 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 jampot alice a bit r.t. the more regions. stay with us here on r.t. i'll be back with outlines after a short break. immediately the.

from. the a movement. to the. to.

was. the history of this place runs through the centuries. a paradise for archeologists zoo ologists and ecological tourists. what one fateful night shots destroyed the mummy of life. how this republic got its life by. hoping dreaming and recreant.

more news today violence is once again flared up. these are the images cobol has been seeing from the streets of canada after. trying to operations or all day.

two thirty am in moscow these iraqi headlines dropping the dollar china again raises the possibility of a new global reserve currency after washington lets the u.s. credit rating slip standard and poor's downgraded the u.s. prized aaa status after losing confidence in a way the latest debt ceiling standoff and. hundreds of thousands of israelis returned to the streets across the country average by the high cost of living and on affordable housing prices many are comparing the protests to those that happened in neighboring egypt as demonstrators call for widespread reforms social inequality . and the u.s. offers its single largest loss of life in the afghan conflict as a nato helicopters reportedly downed by the taliban thirty u.s. troops including some from the same unit that killed osama bin laden died along with seven soldiers. next must go out stay with us.