kevin zeese that director of a come home america got us thank you thank you very much. for the largest holder of the u.s. debt has immediately reacted to the news of the downgrade saying washington needs to cure its debt addiction beijing also called for a new stable reserve currency instead of the dollar concerns are also rising and asia's third largest economy india but the finance minister called the situation great if. true to reports now from get out. these in 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 rating they 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 lot since decisions not specifically being made when it comes to that two point four trillion dollars i

let's get more details on this now with kevin zeese the director come home america dot us i thank you for joining us today so as we know somebody has now downgraded the u.s. so although it didn't do that during the shoot crisis of two thousand and eight does this mean that possibly the credit rating agencies now learned an important lesson or is it trying to perhaps a clean up its image. well if some problems for the last collapse giving wall street ratings it in deserved and i would say they were the cause of one of the crashes. you know things like. lehman lehman brothers were. even very high res it is or whether it's cleaning its act up now or whether it's showing it's power who knows what's going on but the reality is as your correspondent said it comes at a very shaky time we saw a big drop in the stock market of four percent of its value on thursday we saw a very shaky market on friday no doubt this will not help things on monday and tuesday of next week so people should watch closely how that plays out and suddenly it comes to an issue of a credibility back in the crisis of two

really really cripple what's already seems to be a worsening recession here in the united states kevin zeese director to come home america taught us as the rest of the world is now realizing that america is losing its financial dominance the reality is our economy isn't terrible shape and the government's actions are actually counterproductive as number of nobel prize winning economists and other top economists this focus now should not be under should be on during the time moving in creating jobs unfortunately government is going in the opposite direction focusing on deficit just really choke the money supply even more is the lack of prosecution of wall street executives requires the economy showed real spinelessness. more bad policy decisions the regulation of wall street which was led by the guys who caused the problem who work now for obama actually was inadequate i think people see the mystery action of our economy and recognize a few days of us are jamali on the economy are coming to an end and the renowned economist richard wolfe has told us that many are waking up to the reality that