in india oh geez available in the movie the joys the photos videos the grief we go to the grand imperial truly george was the bush coromandel you can a letter to the socialist which says don't need to go publicly and read this in the kernel was the job as used to retreat. world markets take a joke on the back of america's credit rating cut asia's sharply down with european stocks continuing to slide. three years after georgia unleashed its war machine to try and seize out the sense of you know we'll be those who bear the scars of the conflict here and how they're rebuilding their lives. and rabbit looting and rioting spreads in north london dozens of officers are injured trying to contain what started as a peaceful protest against the fatal police shooting of america.

from our headquarters in central moscow you're watching r t with me and he said now it's two pm here in the russian counterpart oh we begin with asian stocks which plummeted on monday following a rocky trading session it comes after last week's route and is on the back of america getting its credit rating cut as well as the eurozone step that refuses to heal artie's proofreader joins us now from asia's third largest economy india. asia shares of course reacting strongly what are people saying about why specifically. that's right anything else all the markets in asia have pretty much a fall in indian markets were down to prevent the day the markets in health korea japan and china are you feeling. and off really off all fell today this wasn't

a huge shock to most people most people predicted that the dog would fall most of the markets have been tumbling for days now in reaction to the afghan people write it down grade of the us economy so not a huge surprise is actually after the us debt ceiling debate last week and the american dollar which has been tumbling for weeks now so all the markets are down here asia is reacting very strongly we're hearing strong words from chinese political leaders as well one chinese newspaper actually that the u.s. government has to realize that the good old days when it used to borrow its way out of nafta is over so everyone's watching this very closely. what does this mean for ages major emerging economies such as china and india you spoke a little bit about the chinese reaction but there was some more details. well as you know india is the third largest economy in asia and asia will actually hold

three trillion dollars in the united states china being the number one u.s. debt holder in japan being number two so they have a huge interest in what's going on over in the united states actually gone analyst third thing to this point in some ways benefit the asian economy because of the risk aversion that so if investors actually look away from u.s. treasury bonds they might actually want to invest more in certain factories in china but obviously we can't predict exactly what's going to happen yet but it's clearly creating a domino effect across the world and asia's going to continue to watch to see what happens. from new delhi thanks for that update on the markets. but i pre-assigned asian nations hold the lion's share of american government and they could turn their backs on its bones as the chairman of the hong kong based credit ratings agency has been telling our city. probably. country nature

will try to help us right away so that means that they're going to my boys are the country. my version of. this mistake because giving such a. waving and. the budget cuts us from coming years. i want to come in coming years so. bank up and it will tighten the. operation will be short of funds our. economy. europe's exchanges are on the side again after already dipping in early trading artie's daniel bushell in brussels explains why. markets in europe are expected to further slide over the course of the day there's despite the pledge by the european central bank boy up spanish investors have been fleeing spain on fears that the country is out of control so this was supposed to calm the markets the g seven g

twenty group of leading economies also said they would quarter a global response to this crisis asian markets are. still a sea of red after south korea's deputy finance minister said there was quote no cause for concern for the world economy the south korean index was temporarily closed it was shut down of the shares they collapsed in the wake of those statements as investors feel politicians don't get just how serious the situation is the moment for the oil of the storm continues to be europe concern is italy where prime minister silvio berlusconi promised to speed up spending cuts government spending cuts in the country but expose thing for more needs to be done for europe to recover from this crisis the italian government one point it trillion euros now that means nothing to anybody but that is bigger than the total

government debt of arland portugal and greece put together before the end of the year it will be needs to sell bourne's debt which is equivalent to the whole of the greek government bond market in other words all of the greek debt that we've been talking about for weeks and weeks and weeks is being. italy is huge need is just big to manage through in any way be rescued in the way that other economies have so far been bailed out by the e.u. . in a crisis of its own after its credit rating was downgraded on friday morning from a correspondent marina porno. comedian george carlin always spoke frank. about his nation the only truly lasting american value that's left by and paid by unpaid people spending money they don't have on things they don't need today country long driven by borrowing and consuming is in desperate need to cut it spending he wants

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 right now with fourteen point four trillion in the hole somebody condiment say it's time for the us to compromise world domination for domestic stability also probably have to see significant questioning 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 cut 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 trillion dollars on the war in afghanistan is 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 the same that you have to spend a lot of money to prove you have to have a lot of people working the various aspects of economic support for imperial adventures around the world the consequences of money is leaving the united states going to other places not in the places in the united states that the most needing it most is the country's 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 post office and fire departments. 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. your military must be prepared to confront from networks to rogue nations that are making efforts to turn in a nuclear capability. with a rising power. but only just look at those to determine whether or not we will in fact maintain 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 jammed up there. because the owners of this country know the truth it's called the american dream because you have to be asleep to believe merino r.t. new york to control the archies business has a close eye on the world markets there for us and joins us to tell us how russian stocks are responding to the slide on the sub the russian markets are very volatile at the moment they're going back to the heavy losses that we saw this morning and actually the arts yes there's news in almost three percent but of course we'll have all the details of what's going on in the markets in our business bullets and about ten minutes from now. all right thank you marina will be joining of course a little bit later in the program for more details on what's happening on the world markets thanks for that. three years ago the people of the small republic of

south say it's you know came under our pillory attacked by neighboring georgia but we've war in which to reduce the trying to reclaim its territories claimed hundreds of lives and he's made you know question of is in the south of capital which still bears many scars. georgia attacked suddenly at around midnight and the first trikes happen hand of the russian pairs keeping base now what you can see behind me at all what's left of that space there were around two hundred fifty soldiers hand and they forced all knowledge waiting for the russian troops to iraq russia's. in troops to protect the republic citizens many of which were russian passport holders i mean also one hiding in basements and blown out buildings overhand twenty three soldiers were killed and many injured and some we managed to talk to they told us that they want to keep of this building untouched and of the memory of what happened han meanwhile the morial service began last night and will be held

throughout the day these are when he starts at eleven thirty five pm that's exactly the time when george opened fire over the such a hundred people came last night to light candles and to pray for those who were killed three years ago in a brief but this truck to conflict many canes with small children people were listening to the rock and they also released white balloons into the sky and the memory of what happened here three years ago they will last it will follow but hundreds were killed and many injured was mostly destroyed after. a little the face of the city has changed within these years still the locals are trying to restore their lives and we managed to speak to some of them are still struggling to bring their lives back to normal. i come here almost every day i sit and talk to my son so i knew i would lie next to my dear boy. for the last

three years they say sydney has come to this cemetery and self-assertive where her son is buried five days unorganised two thousand and eight split her life into a before and after. case since as one her son a medical college graduate heard there were publics capital t. involved was under attack from georgia he rushed home to help the injured he died in her arms as they lay trapped for days under the rubble of their apartment block that was in the georgian alterian is firing like. k.c.'s as the only thing that makes her life worth living now is return t.v. year old daughter they now live together in a newly built house to rounded by families with similar tragic stories. in this area will leave specially built to those families who lost their loved ones and we

loved nothing in the towns across the street it's a been lost children and in the house opposite lives a man who lost his wife and his child. all these people are victims of georgia's military aggression in august two thousand and eight we try to retake control of the gun breakaway republic of south ossetia a russian peacekeeping mission in the region also came under fire nursed my abuse dive i was on duty with them and witnessed average thing 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 out peacekeeping mission and tried to be calm. most cool santry enforcement to protect its citizens and prevent more civilian deaths within five days georgian troops had been repaired. three weeks late so russia recognized. the last three years have changed the

face of this the new residential air where new roads jobs and have been in use and have been built but still signs of the conflict remain true and behind my back are all that's left of good russian peace. who lived through the horrors of the police but now the conflict the memories are still revolt. bushnell archie reporting from seagulls are setting out. to meet him and video spoke to archie and other media on the south the setting of conflict as the third anniversary approaches the president says georgian leaders soccer stretes should face an international tribunals for my crimes against russia and its nationals this interview is in full for you at r.t. dot com. two days of angry clashes in parts of north london have seen twenty six police officers injured and over a hundred and sixty arrests it's not small pockets of violence are still active. a

peaceful weekend protest against the fatal shooting of a man by police it is in the british capital announce joins us live we're at how police brought the situation under control. well obviously it's much less attractive to shops in the daylight and i think that's part of the one of the factors that has brought this situation much more under control this monday morning we all still as you say hearing reports of pockets of on right sort of groups if you ranging around particularly in the areas of brixton in south london and and fields and then the surrounding area in the north but mostly what's underway at the moment is is a massive cleanup operation after last night's looting and rioting that happened in large parts of north london it started off in the enfield area and then seem to spread outwards towards the city center and also broke out in the south of the river thames here in brixton. parts of those towns are still closed off for

police are treating me entire area as a crime scene they talk all the pavements they're examining the broken glass from the shop windows and picking up any clues that they can find as to who did this in order to try to make arrests they've made one hundred sixty arrests altogether over the last couple of days. of these disturbances police cars have been smashed up and attacked police themselves have had. reports of petrol bombs having been thrown at police and certainly they were attacked the bricks by riots is shops with that far too and looted now i was in enfield last night where that the center of the violence started and there were guying you ranging through the streets smashing it right when he actually whatever they could attacking shopfronts particularly shop fronts with attractive things inside computers stores phone stores bike shops you

saw people making off with televisions literally as big as they could carry i saw one man making off with a vacuum cleaner so literally they were just grabbing everything they could in some cases loading them into the cause and then driving off with the loot you. an attack pharmacies in enfield town center and also starbucks coffee shops and staff and the violence then quickly spread to other areas is the travel between this small area in north london and the party they were communicating on twitter and blackberry to tell each other where they were and where the police weren't and i don't mind telling you that it was it was pretty scary up and for the last night it seems like the violence really spiraled out of control and quickly why did it sound so destructively. well it started off on saturday nights in top what started off as a peaceful protest outside the police station following the fatal shooting by police of a man called mark duggan there about three people holding that story three hundred people holding a silent vigil outside the police station we're hearing reports that what sparked

it was a member of the police attacking a seventeen year old girl with a bottle that quickly circulated around the crowd and we're hearing that that's what sparked this violence at these areas that we're talking about particularly tottenham where this all sparked off it was really sort of a sort of sprawl of gun powder keg this this fatal shooting of mark duggan. it's an area of massive social privation there's a lot of. police is relationship with the community and there has been for many many years the police in that area and in many other areas in an operations stop and search policy which basically means they can stop and search the belongings of anyone that looks george even if they haven't actually done anything and people in those areas particularly ethnic minorities feel that they're unfairly targeted by these policies there's also huge amounts of unemployment talking one of the highest on the youth unemployment figures in london and living off benefits has become

a way of life in these people some of them are literally hopeless they live on benefits at the moment they see no time in the future in which they will will have a job and be able to better themselves so people do you feel ignored and neglected in these communities they're not making a political point we should make that clear these are looters and they're criminals and they're running around grabbing whatever they can but lots of people are saying that it's pretty important a political point is taken from this that these people feel disassociated from society and this should last into great hold on policing and social integration. of course we'll continue to keep an eye on the situation in london for us live from the british capital are to use more. now london's definitely a city on the tabs right now as we heard and there's one group that has an extreme solution to its troubles as we report dot com hard line muslims want to lay down

virtual rio law in the british capital and it's not going down well with londoners find out more on their plans to get straight with centers. and find or not moscow holds another flugtag competition for amateur aviators to at least try to reach for the sky box their attempts at r t. saudi arabia has pulled its ambassador from syria adding weight to the international condemnation of president also its crackdown on protesters more than fifty people were reported killed as violence continued across the country on sunday syrian forces stormed the eastern city of dir all sorts of cross and see government protests during the muslim holy month of ramadan heavy shelling was

reported after black clouds of smoke were seen rising from buildings in the city more than seventeen hundred people have been killed since the uprising began in march international relations apps professor mark all men's says syrian politics are riddled with intrigue. and users. were going. along. with her. for years or if they are criminals are. agreeing with her and her or so ready. to. go along. with. the real going to. war and sort of. well later this hour more on the situation in syria and the arab world when we talk to iraq's foreign ministers to do stay with us for that next

it's the latest from the group of business and of course the markets with marina. hello and welcome to business here on artsy global markets have been under pressure for weeks and out the opening there was a crescendo off selling asian stock markets in a deep into the red but so here and home calling managed to claw back a little with both closing down about two percent it's russian markets are also trading in their thoughts of territory let's cross live now towards the south earth who's at the headquarters of the r.c.s. stock exchange hello serono what can you tell us what's happening with the markets right now. well we're seeing that increased volatility in the markets from this morning continuing into the of. the russian mob his began trading today and negative territory we saw light sachs and yes begin to be able to close i got

a little bit earlier on but again yes trading tallit about three percent and my six is about two and a half the size and now the biggest losses are being played at the moment in the oil and energy mage's that gazprom. that. we've seen did that just says about the economic situation in the u.s. and the year it's a having this impact of pushing the price of crude oil down there are still some stocks that are trading in the black we've seen the price of gold rises and that's a looking for a safe place to park that money i will say i think the effect from the european markets today there was a bit of positivity coming from them when the european central bank said other they'd be willing to prop up spain and italy that's required days but it seems to have some confidence to the investors that may be pretty temporary people are still very unsure about exactly how this is going to play out we see

a lot of times the euro is a really taking it to the brink and being able to pull back from the post last week again we've seen the u.s. be downgraded by standard and poor's to weaken losing that aaa rating the first time in u.s. history as of today to cut a deal to raise the debt ceiling in the u.s. right up until literally the eleventh hour so there's still a lot of uncertainty at the moment is take the markets will be able to ride this out and find some stability we've had in the deputy finance minister here in russia russia doesn't intend to change its investment policy. the u.s. downgrade we have a lot of analysts that this is remember only one of the major three ratings agencies has downgraded the u.s. has seen. small symbolic then necessarily having this huge apocalyptic impact as some people were carrying today it's a more of a ripple effect rather than the ways but there are people who say you know this is really challenging that is that since they were in place that the u.s.

is this understandable superpower that completely change we're now in a new financial territory and you could be increased volatility it doesn't seem that the global markets ratz of the choppy waters just yet. thank you very much for that. downgrade may on them or in the dollars position as a global reserve currency some countries are consider reducing their reserves and so although let's risk the currencies. for a bank sees it as a great chance to hold it against the falling oil price. when you're a candidate many people are correlated with the price you if you lou could even be construed lies for years every time when you praise lose the. price of american did good why spears is not in the ph d.'s who place will ration this is why she should have been american that this is the c.r.

. price would go down. and let's take a look at the markets now gold has such a fresh record as investors turn to asses off with us for us gold is adding over forty four dollars per ounce while silver is gaining about the dollar fifty this hour from crude prices are low we're following the downgrade of the world's largest oil consumer there's no confidence in the market and pulses are concerned over future the run for crude both wind sweet and browns are losing over three dollars this hour. in the asian markets have closed the negative territory banks were mostly lower and exporters were also on the pressure another worries about the future of the mines and all this was of course the result of what's happening in the us i mean europe problems and market jitters. the european markets have gone back in sooner rather nuts this by the platform the european central bank supplies silver and poles the footsies down one and

a half percent of all the dax is losing soup or into three percent this hour. and here in moscow markets have slipped back to have you also this after getting a slight boost from european markets the r.t.s. is losing three percent the sour and the my six is almost so the half percent is in the red. it was sent from. the belgrade monday is inheriting last week's fears. this week we're back in business again and people will be looking at the news of the day to fill it streamed closely because the markets are extremely volatile and there's no conviction for any sort of strong recovery in my view the situations that were problematic last week or supermarket this week so any improvement in data will you know support the market but it could also be a very short term looks like we could have the dollar fall into eleven hundred i think without any problems i was on the business news for now the headlines are not

so. wealthy british scientists think it's time to. market. find out what's really happening to the global economy because the reports.