trillion dollars short and if it's not change the rating could fall further in coming years but 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 aaa to a.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 ended up 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 stimulating. 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 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. wolf a senior analyst at green crest copyable believes this may just be the beginning of more serious trouble for the u.s. economy. it sets up an environment in which symbolically politically and economically the united states' leadership of the global economy has a nother 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 too that hasn't beat didn't just downgrade the united states they put us on further down grade watch so they're suggesting that this downgrade may be big to be in in the process and not be am i do think that the leadership of the united states and therefore 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 presently 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 look pretty good right now so clearly that doesn't look likely but i you may see regional currencies emerge with euro's and rules of renminbi and yeah and and even brazilian re i taking up some of the position of the dollar historically had in their respective world regions. china has immediately reacted to the news of the downgrade by suggesting a new stable reserve currency is necessary instead of the dollar concerns are also rising in asia's third largest economy india where the finance minister there called the situation grave artie's prius 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 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 they're seeing debt soaring they're seeing 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 if you should investors are ditching bonds in the wake of what's been a tough week for the u.s. economy according to investor at all for german 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 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 considerably things that they guaranteed they printed huge amounts of money you know the world has gotten worse or hasn't gotten better but vision of 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. as america's credit rating gets downgraded by a notch some fear the move could spark another black monday on international stock markets new leaders criticize rating agencies standard and poor's accusing it of

double standards promised to establish a european agency in response or he's daniel bushell has the details. downgraded trust in the rating agencies to junk status. as the agency admitted a two trillion dollar miscalculation when deciding this downgrade they claim to have the world's best minds working for them how to really surprise people here because most know that to most of those had unsustainable for many years now well 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 triggering the world recession that followed. furious about double standards they held with the white house the foolish decision. when it would take place what would happen that's allowed the white house to prepare a response to the media and even question the agency's judgment happened last week

when the agencies graded the european union countries and their ratings now that suggests that the agencies are saying the very least as a result the european union is creating its own agencies will do this. for america nice to 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 getting that money back. one small debt for man one giant black hole for a nation later on in the program we we ask in new york what's the difference between our debt and those of our governments. it's much worse for 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 do you trust you sound to do the right thing

and live within your means i do but i mean debt is such that i can pay it off. but before we get to that a wave of mass anti-government protests is underway across israel the biggest rally happening in tel aviv with up to a quarter of a million people attending their anger at the high cost of living in an affordable housing artie's policy or has more. the military is electrifying what it did a mixture of jubilant and defiant they say they're not going anywhere until the israeli prime minister benjamin netanyahu meets they demand part of his overnight 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 i can set in tell you that there are tens of thousands of e-mails not police have been out in full force for at least twelve hours

a total of all those leaving to that mission and in the time it took me to pass through the security checks that cause hundreds of protesters walking in opposite direction holding up that is no united under the slogan office demonstration which is the peaceful dimanche social justice and that's what they think right now tonight we here in london's logan also the people will take back the country yet tonight also making a number so large groups are 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 protest also comes in the wake of controversial housing legislation that was passed earlier this week by the israeli knesset all these really parliament and according to protesters here it caters to the rich the rich again making affordable housing out of the reach of ordinary people now remember to

me the comparison is being made between what we've seen here in israel and what has been happening and continues to happen in neighboring egypt this demonstration is painted over 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 tuffy a square. corner of course being a reference to the heartbeat of the gyptian revolutions a city that is a comparison we all still being 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 photos on facebook facing pictures and videos on you tube and like we saw in egypt people kept calling pull the change out the israeli

prime minister benjamin netanyahu has been very quiet in his response to much the same as the top people of egypt and president hosni mubarak was at startup that you may believe said shift today friday because the city to succeed me issued a scathing attack against the tsunamis saying that not only was he out of touch with the people but the soviets that he was staying with to try and crush these demonstrations and the only thing that sonali had it in the past few days except that imitation is part of a mass movement people in the country thirty at the time here is a very catching people to mobilize people are saying they go nowhere and a lot of the government demands the next anomalies policia seen television. knesset member daniel ben-simon says prime minister netanyahu doesn't realize that the protests are rooted in public discontent and not from political rivals. people here yelling out shouting are skipping in the street i'm talking about tens of

thousands you won't see the police shooting or beating the protesters it's very polite it's very strong vested 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 a strike of israeli professionals it's not of unemployed people we have almost no in the ploy that but you do everything and see if you cannot 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 how they live and they go to destroy it 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 are behind it and he's wrong. thirty 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 war doc province 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 medea benjamin from the antiwar movement code pink says the u.s. has caused too much damage in the country and 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 it strengthens the taliban it gives the taliban a reason for being and the more that the u.s. troops continue to be there the war or that 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 are 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. web site has plenty more stories along with blogs video and analysis here's what's online right now. check out this dramatic video of firefighters battling a warehouse blaze in southern moscow. clause. from london to london stat

a group of hardline muslims want to impose sharia law in the u.k. which could condone amputations for a penny that illustrates that point check out the cartoon section of our website where we draw on all the major stories. people loyal to former ukrainian prime minister yulia timoshenko continue to protest against her arrest her supporters have 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 protesting here believing that the case is politicized and being orchestrated directly by president several hundred more people are stationed in the.

main see the main street in kiev 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 offices 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. and they were signed in full accordance with the two countries laws and also be very sharp comments coming from the european union with almost all of the nations in europe criticizing the current state of affairs the fact that you have to machine go 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. turning now to some other stories making headlines across the globe protesters have with authorities in north london as rioters tried to storm a local police precinct shops and a passenger bus were also set on fire plus several patrol cars demonstrator demonstrations began after a twenty nine year old man was shot dead by a police gun crime unit earlier this week more than three hundred people took to the streets of the british capital to demand justice over the killing. syria's foreign minister has pledged free democratic general elections in the country by the end of the year this 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 six day crackdown has now reportedly killed around two hundred people across the country the international condemnation of the violence is growing and most recently the u.s. says they're working on new ways to influence the situation beyond sanctions. and

seventeen people have been killed four injured in a multiple vehicle collision in southern china state media says the pileup happened after two trucks collided flipping one of them into the path of an oncoming passenger minibus authorities are investigating whether overloading of the vehicles involved may have been a factor in the accident. turning now back to the u.s. debt drama that seen its top tier credit rating take a hit now if you or i get deep in debt the bank is always ready to pounce and yet it's only now that the u.s. which owes trillions is seeing its credit score decline online talk show host people on the streets of times square why consumers are so addicted to buy. 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 cars 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'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 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. 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 family we can only hold 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. finally in this news walk we take you thousands of kilometers east of moscow and also a place that's millions of years in the past. taking you now out of a far eastern am original remote but rich area holding russia's largest reserves or precious metals but authorities alice hibbard 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 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 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 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 has devoted his adult life to restore her very near this 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 when they literally everywhere here we are no 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 a lot or to tan or giant swan at twelve mr long herbivore found almost exclusively here and it was here the son who first stops at the fragment of tail bone sticking out of the father and son went on to make paleontology history advancing is 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. worry girl for very slow because the. more bones in the ground around it. why is 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 lot ski 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 toy g the board tree and museum each new discovery must be carefully catalogued and examined the aim is to inspire the next generation of dinosaur hunter this. one ensuring the family's feeds don't go i'm remembered for that. here you can see if out of europe at the excavation site and here you see

photos of. those characters of an immoral zaurus and kerberos are quite a strange looking reptile isn't it and so learn from the follies of history such 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 u.t. belongs comes from a long line of scientists who chose to follow their own instincts and secure 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 r.t. the more regions. be back with the headlines after a short break stay with us here on r.t. .

thanks. to. the limits. of.

my. pants. if. it was. because he feels. he feels. the. same.

couldn't take three. three. three. three stooges. video for your media project a free media. five

thirty am in moscow these are your r.t. 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 america's prized aaa status after losing confidence in the way the latest debt ceiling standoff was handled. hundreds of thousands of israelis returned to the streets across the country angered by the high cost of living in an affordable housing crisis some protestors are comparing the demonstrations to those that happened in neighboring egypt as they call for widespread reforms social inequality. and the u.s. suffers its biggest single loss of life in the afghan conflict as a nato helicopter is reportedly down by the taliban thirty u.s. troops including some from the same unit that killed osama bin laden died along with seven afghan soldiers. documentary coming up showing how the republican.