the movie joins me that shows a movie that's a great way to turn the branding period. to george weston to school until you can to let you know which civility to go on a clear run this is the kernel was which was used to retreat. as a consumer you got seen playing field with the asian store it's our you can start us die racing cars the movie tenth street is expecting your american. three years old to torch on the instant new machines trying to steam sound sincere we need those who can battle scars of the conflicts harry tell their children that are still. losing and rising spreads of north london dolls means of offices that injured trying to contain more songs and as a peaceful protest against the faithful are going to sing over the.

very warm welcome this is from moscow asian stocks tumbled on monday so what's likely to be a string of torah trading in europe and the us major investors are taking funds that america's government debt downgrades and europe's debt that refuses to heal. it is in ages the third largest economy india the laces outlook for the region. the asian markets are tumbling today which is what many analysts predicted on friday when this credit downgrading rating was released but obviously this is what many financial analysts had predicted on friday we were already starting to see the markets tumbled on friday in reaction to the u.s. debt ceiling debate and these new credit rating downgraded so good. markets are

reacting very strongly they have a vested interest in what's going on in the united states they are holding three trillion dollars the united states debt so everyone's watching very closely here to see what's happening china is the number one holder in the u.s. that japan is number two they both have reacted very strongly to this crisis china calling all of this immoral and responsible and saying that the united states must deal with this immediately i don't obviously there has been a lot of talk about moving away from the u.s. dollar as the reserve currency in the world and obviously there's been a lot of talk about adding asian currencies into that of basket currencies that would be used in substitute for the american dollar the cheese seven the leading industrial countries in the world actually had an emergency phone call yesterday how dry thing all of this and that was one of the things that they had to talk about they also issued a statement saying that the united states must deal with this crisis immediately so asian markets are definitely being impacted greatly by what's happening in the

united states. when those nations which hold. american government says. on its own the terms of the hong kong credit rating agencies are telling us he. would be. country they sure would try to i was right there with them is that going to buy boys are you surprised them for most of the u.s. what my. mistake because getting such a fun way to close the. budget cuts you know us i mean use. the market would mean. by what i mean coming years so. that if you will tighten the. operation of funds that were economy you know long term and short term. russians taunts also expects to feel the pinch from friday trading ending. in negative territory also. has more for us now from

the major losses seem to moscow which has just. been so far. but we've already seen this morning the asian markets a painting with the russian markets have just taken a very much the same story a expected to play out here this morning as investors exult the decision by standard post credit rating agency for the weekend through me the us is such a racing now we've heard from a lot of analysts target there certainly this downgrade reflects increasing global uncertainty in the u.s. economy is not all bad news some analysts have also said that they expect traders to be able to resist a black monday stull situation and to detect the finance minister here in russia has said that russia has no plans to change its investment policy. the u.s. downgrade it nonetheless is the first time in history that the u.s.

has received a downgrade other governments that have received a downgrade is taking between nine to eighteen years to recover that status so it does you know some is going to bounce back very quickly but it's also important to recognize that a lot of people have pointed to the fact that a double a rating is still a reliable rating but we're seeing a lot of uncertainty in the markets today maybe those who waiting to see how it plays out here the smaller we think very strong criticisms coming in pointed at the u.s. from countries such as china and india the chinese official news agency saying that we can't but this is a u.s. debt addiction now my colleague been taking a close look at u.s. spending. comedian george carlin always spoke frankly about his nation the only truly lasting american value that's left behind. current pace people spending money they don't have on things they don't need today country long . even by borrowing and consuming is in desperate need to cut it spending us

defense and security spending has remained untouchable soaking up seven hundred five billion dollars or twenty percent of federal funds every year since two thousand and one more than one point two trillion dollars have been spent on the wars in iraq and afghanistan but now with fourteen point four trillion in the hole some economists say it's time for the u.s. to compromise world domination for domestic stability will also probably have to see a significant requestion ing or questioning and downsizing of the several hundred foreign military bases we have given the size of the budget problems and the growing issues around the national debt and the debt ceiling it is fairly well assured that the budget will be called for defense and it probably needs to be cut more than is presently proposed for the pentagon priorities may be different it department reportedly spent twenty three billion dollars on global hawk drones alone this year taxpayers are estimated to spend one hundred twenty two billion

dollars on the war in afghanistan the same amount that could cover an estimated twenty five million americans with low income health care an empire costs a lot of money because you have to spend a lot of money to defend that you have to spend a lot of money to promote it you have to have a lot of people working on various aspects of it came out make support for imperial adventures around the world the consequences of money is leaving the united states going to other places not to the places in the united states that the that the most needing it most is the countries neglected infrastructure and jobs that come with rebuilding according to the american society of civil engineers a quarter of america's six hundred thousand bridges are listed as deficient and nearly half of american households don't have access to public transportation ongoing federal budget cuts are expected to force thousands of this. it's.

more than forty million americans on food stamps they also make sacrifices we just cut the food stamp project by twelve billion dollars we have multiple experimental ongoing programs in the defense department each of which is large enough to offset the food stamp cuts and i think if we have forty one million people already who are dependent on government aid for food getting food to them is probably a first priority but defense secretary leon panetta is looking further afield for his priorities we are a nation at war. we face a broad and growing range of security threats and challenges. but our military must be prepared to confront from terrorist networks to rogue nations there are making efforts to turn a nuclear capability to dealing with rising power it's. always look at us to determine whether or not we will in fact me a strong defense here and throughout the world eyes on the world while citizens

face mounting struggles at home that's what the owners count on the fact that americans will probably remain willfully ignorant of the big red white and blue. because the owners of this country know the truth it's called the american dream because you have to be asleep to believe arena port r.t. new york. or europe's markets a braced for monday morning off to take some rain last week while european central bank officials have agreed to haul euro zone government bonds to fight the continental debt crisis although it's all clay get which forms the prime is going to buy expensive spectrum to be from debt laden countries like italy and spain i phones the german government reportedly admitted to us the fund. be able to say here is a third biggest economy if it needs help the g seven group of the most industrialized nations are also valid to support financial support to see and welcomed what it

called decisive actions taken in the us and europe but i don't see at all the popping sounds is the change time immediately. let's try to understand the size of the numbers here yet tell your government one point eight trillion euros now that means nothing to anybody but that is bigger than the total government debt arland portugal and greece put together before the end of the year it will lead needs to sell bourne's debt which is equivalent to the whole. the greek government bond market in other words all of the greek gaps that we've been talking about for weeks and weeks and weeks is being looted. italy is huge and it is just a true big to manage to in any way be rescued in the way that other economies have soufan are being bailed out by the e.u. what the euro zone needs to do is completely rethink the approach that they

currently hard we're going to actually a completely new approach some time by september october or maybe november we are in severe danger that the euro zone is going to collapse. classes business dean has the world's markets are closed to what's an l have an update for you in just a few even exist but also coming up on the program and you great fire of london buildings torched police cars the scene and more violence of course over the two days of violence that's gripped parts of the british capital. and syria now under pressure from the arab world's most powerful nation as saudi arabia pulled its them boy and orders the bloodshed to stop. three years ago the people of the small republic of south ossetia came under artillery attack by neighboring georgia every war in which to be trying to reclaim its territories and hundreds of lives are submitted of course there is in their south as

a capital where memorial services are being held. anymore all services began last night and will be held throughout the day this is how many started eleven thirty five pm that exactly the time when george opened fly over the city hundreds of people came into the main square to light candles and pray for those who joined in that brief but badly conflict people were listening to the right feeling they were looking at pictures taken at that period of time god's word showing them wise screens placed across the city center they also released. in the memory of those guys of three years ago the atmosphere was of course very sad to many came with small children everyone was holding candles the war lasted for five days but hundreds were killed and many injured was mostly destroyed after bombings. the place of the city has changed within the last three years still people are

trying to restore their lives and we need for still struggling to bring their life back to normal. here almost every day i sit and talk to my son. next to my dear boy. for the last three years nick has come to the cemetery where her son is birds five days unorganised two thousand and eight split her life into a before and after. when her son a medical college graduate heard the republic's capital tin vall was under attack from georgia he rushed home to help the injured he died in her arms us they lay trapped for days on to the rubble of their apartment block that was in their torture and theories firing.

he says i was the only thing that makes her life worth living now is twenty five year old daughter been. lived together in a newly built house surrounded by families with similar tragic stories. in this area will leave with specially built to those families who lost loved ones and in love with nothing in the towns across the street it's a human who lost two children and to the house opposite lives a man who was both his wife and his child. all these people are victims of georgia's military aggression in all those two thousand and eight when he tries to retake control of the breakaway republic of south ossetia a russian peacekeeping mission in the region also came under fire nursed my of his dive i was on duty with them and witnessed average things that happened that night i got four kids i saw him fall on fire when you know it was going to be our last night but it was still carried on peacekeeping mission and tried to be calm and.

most schools tangerine forstmann to protect its citizens and prevent more civilian deaths within five days georgian troops had been repelled three weeks late so russia recognized such a scheme that. the last three years have changed the face of this thursday i new residential air at new roads jobs and have been in use and have been built. but signs of the conflict remain this behind my back that slapped a good russian peacekeeping post. this through these horrors of the police but down to the conflict in the families can still have evil. bushnell archie poison from the setting. going to mass south as the us is that he lives in south ossetia in two thousand and eighteen you know. but it's bombings and because the news from the american media little resemblance to the reality is. the american press was

very biased in it in reporting the whole conflict i was here in a safe and my family in my in my siblings and friends in america and i spoke with him and that there was nothing in the press about george attack itself is that it wasn't until russia responded that it was being televised that russia is this attack in georgia my sister after i told her the truth about what was going on she saw the live t.v. show a lot. on fox thirteen they're talking about the war and so she called in and she said what you people are talking about is not the proof he said my brother is there he called me he told me what what happened with foreigners and they basically cut her off. when they said we here at morton's had about the difficulties the south asking people to come on their way to peaceful life.

the history of this place runs through the centuries. a paradise for archaeologists. and ecological tourists. one fateful night shots destroyed the army of life. can destroy publish its lifetime. hoping dreaming hundred three and. two days of angry clashes in parts of north along the house and twenty six police officers injured and some fifty five iraqi becomes a peaceful protests demanding justice over the death of

a twenty nine year old man who was shot by police last thursday but things turned ugly when demonstrators began attacking the files of cars and both things he's more of it is that. these are the scenes in enfield town census nights with riots is essentially taking over the town i'm standing here in enfield retail park behind me you can see legions of police in riot gear they okaying rounds mopping up what we're saying is between one hundred into hundreds of rioters essentially people who are looting the subsidy you can see around me behind me is the toys r us just that it's carries the same young men mainly but some women as well looking out of the shops with literally anything they can carry in their hands from television to vacuum cleaners and there's also bike shop parents some of the most rigid off the bike shops stock a police office we are coming in to quell the base these disturbances they're breaking out but this has been going on since that stay. even a.k.a.

in north london i started in talk to them which is not very far from here where that was decided big show to protest the shooting by police so someone called mark duggan three hundred people turned out at the police station to ask questions about how that shooting about fatal shooting to take a place i was in c.u. supports very much the same easy head tonight lou says of the young people some people reportedly as young as seven year old children are being arrested in the early sixty's so that is an easy relationship a big these parts of milk down to between the people up the mountains the police and bases people say a manifestation hope that some. definite yes you see on the try now and then as one group that has an extreme solution to its troubles and some reports assaulting dot com by muslims was made on the sharia nor the british capital it's not going to

while we're talking to this find out more on the plans to get the strictness of. the flying high and mosque mosque it holds a hell of a souped up tug of competition for how much aviators at least i try to reach for the skies wash their attempts that are some joke on. the ball. is. to be.

wealthy british style. market. why no one should really happening to the global economy with my stronger no holds barred look at the global financial headlines. there's a report on our. saudi arabia has pulled its ambassador from syria adding weight to the international condemnation of president assad's crackdown on protesters more than fifty people were reported killed as violence continued across the country on sunday syrian forces stormed think. it's across and said government protests during that was the holy month of ramadan heavy shelling was reported after black clouds

of smoke was seen rising from buildings in the scene seeing more than seven hundred people have been killed since the uprisings the gal in the march international relations ads that has a mark on this is syrian politics how little he thinks he. is or what are. more or what. little stalls american women should be yours or your they are criminals or girls are americans or artists or. money. or. rhetoric approach the heart of. the real ground. zero for the last several hours. later i'll see more of the situation in syria and the arab world when we talk to iraq's foreign minister in about ten minutes time. now

a briefing. because of all the while things are brief this hour on the u.s. is north of investigation into saturday's helicopter crash in afghanistan that killed thirty american servicemen seven afghan soldiers and a civilian in terror so it's the greatest single loss of american life since the beginning of the conflict twenty two of those who died belong to the unit that killed osama bin laden in may investigators say the aircraft was hit was a possible help me us ranging unit that was under fire. venezuela's president said raising a second round of chemotherapy cuba hugo chavez had upheld that she were in eugene she would have been sent nature of his county has not been disgraced his illness has been costly down say to his fitness to stand for reelection next year but president chavez insists he's responding well to his treatment and plans to go ahead with a campaign. the most powerful storm decades having towards eastern china

tropical storm brought my winds and torrential rain causing huge disruption over the weekend more than three hundred thousand people out that evacuated to safety around shanghai thousands of homes were left without power in south korea as the storm brought down power lines and trees it's expected to reach western parts of north korea by monday may. well be back with a recap our top story short first it's the latest business days rina. hello and welcome to business here on r.t. but we start this hour with global markets which have been under pressure for weeks but have now reached a selling crescendo and asian stock markets continue to slide as the u.s. credit rating downgrade fan fears of a global recession so here hong kong saw and said they are down between two and

four percent and analysts think the volatility will stay high while strong economic data remains then but we've seen that in the line truthful problems are still there us and we're in this still over nine percent european employer in the slogan one percent growth has slowed materially over the past few weeks and obviously have the overarching problem with the fear in sovereign debt crisis think what we need to see is a sustained run a positive economic data and a resolution to the european debt crisis before markets really start to calm down. but the downgrade may undermine the dollar's position as the global reserve currency some countries are considering reducing their reserves into other less risky currencies but. sees it as a great chance to hedge against the falling oil price. in a candid and negatively correlated with the prince knew few lou could even be construed last three years every time one who praised. the price of american their

goods and rice is not and the group h. against previous will this is why russia should have been american that this is. priced good around. take a look at the markets now gold has such a fresh record as investors turn to assets which offer outlets for its gold is adding almost forty eight dollars per ounce while silver is gaining almost through the hours let's take a look what's happened with oil prices are lower following the downgrade of the world's largest oil consumer there's no confidence in the market and investors are concerned over future demand for crude both light sweet and bronze are losing over three dollars this hour. and asian markets are in negative territory banks are mostly lower and export others are also on the cross for another war is about the future of the markets and all of us is of course the results of what's happening

with us any or of products and market jitters. and here in russia all the arts yes has opened in the red it's down over the half percent and the my stocks will start trading shortly on friday both exchanges closed deep in the red after international stock markets fell to their lowest since lake's widespread. but it was soon says with a downgrade monday is likely to inherit last week's fears. this week we're back in business again and people will be looking at the news flow of the data flow extremely closely because the markets are extremely volatile and there's no conviction for any sort of strong recovery in my view the situation that we're problematic last week are still problematic this week so any input of the data will support the market but it could also be a very short term looks like we could have the dow fall into eleven hundred i think without any problems. and that's all the business is for now join us for another

hour lost an hour simon in the meanwhile stay tuned for the headlines for that. the.

machine would be so much brighter if you move on someone from phones to impressions. these stunts on t.v. don't come.