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August 23, 2018
CNN 10 - August 23, 2018
Major Hurricane Lane Set to Possibly Hit Hawaii;
U.S. Stock Exchange, Bull and Bear Markets;
Professional Sand Artist
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CARL AZUZ, CNN 10 ANCHOR:
There`s a storm brewing out in the Pacific Ocean. It`s big. It`s powerful. It may be headed to the 50th U.S. state and it leads today`s edition of CNN 10. I`m Carl Azuz. It`s good to have you watching.
Major Hurricane Lane Set to Possibly Hit Hawaii
Hurricane Lane is it`s name. At one point yesterday, it was a category 5 storm. The strongest classification on the Saffir Simpson Hurricane Wind Scale. Since then, Lane has weakened a little as forecasters expected it would. But the system still carried wind speeds of 155 miles per hour which the government says is capable of catastrophic damage to homes, businesses, trees and power lines.
Forecasters don`t know for sure if Lane will make a direct hit on Hawaii. The string of islands are a pretty small target in the Pacific and only four named storms, that includes two tropical storms have made landfall there since 1959. However, the U.S. National Weather Service says the center of Hurricane Lane is on track to either hit or skirt by the main Hawaiian islands later this week. So Hawaii has issued hurricane watches and a warning and people are being told to protect themselves, their homes and their businesses.
Even if Lane doesn`t make a direct hit, it`s still expected to blast the islands with strong wind and rain, rough surf and coast erosion. When it was 480 miles away from Hawaii yesterday morning, it was pushing larger than usual waves across the Pacific onto the Eastern side of the big island. Forecasting hurricanes isn`t an exact science. If this storm hits Hawaii, it could happen anytime between Thursday and Sunday.
(BEGIN VIDEO CLIP)
Tropical systems come in all shapes and sizes. You have tropical depressions, tropical storms and one`s that are strong enough to become a hurricane UF 5 categories. The category 5 being the strongest. The states most frequently hit by a hurricane, Florida, Louisiana and Texas. But as much as we know about hurricanes, forecasting them is still a challenge. Just as we name each storm, each storm has it`s own personality. Like Katrina in 2005 which intensified rapidly overnight going from a Category 3 to a Category 5. It became the fourth most intense hurricane on record as of that time.
And the forecast track can change dramatically like Erica in 2015. Or a system that can be viewed as relatively weak, like a tropical storm could end up like Tropical Storm Alison in 2001. The remnants of the storm stalled over Southeast Texas dumping 35 inches of rain over Houston in just five days. The storm became the first non-hurricane to have its name retired.
(END VIDEO CLIP)
10 Second Trivia
A statue of what animal which symbolizes a rising stock market is also a tourist attraction in New York`s financial district.
Bear, Wolf, Shark, or Bull. The charging bull, a massive sculpture symbolizing optimism is located at the intersection of Broadway and Morris Street.
U.S. Stock Exchange, Bull and Bear Markets
3,454 days. That`s the age of the longest bull market in American history according to most analysts and it`s still going. Here`s why this is significant. The U.S. Stock Market is one indicator of how well the U.S. economy is doing. Bull markets indicate that investors like what they see.
They`re buying stocks causing prices to rise and this is a sign that the economy as a whole is steadily improving. There has never been a longer period of time when the market had uninterrupted gains like this.
Now this doesn`t mean that it hasn`t had hiccups along the way. The Dow Jones Industrial Average, an index of 30 significant U.S. stocks saw it`s biggest one day point drop earlier this year in February. But one interesting characteristic of this Bull market is how it`s shaken off the hits it`s taken and continued growing. Where and when will it stop? Nobody knows.
(BEGIN VIDEO CLIP)
It was Monday, March 9th, 2009. Bernie Madoff was under house arrest for the greatest ponzi scheme in history. Famed investor Warren Buffett issued a dire warning on the state of the economy.
WARREN BUFFET, INVESTOR:
We`re talking about it being an economic Pearl Harbor. It`s falling off a cliff.
And Larry Kudlow, then a TV pundit railed against efforts to rescue world economies.
LARRY KUDLOW, FINANCIAL ANAYLST:
They`re doing the wrong kind of stimulus. They are spending their tuckasses off.
On Wall Street still reeling from the collapse of 2008, it was just another down day. The Dow falling over 1 percent, 12 year lows. Most people unaware this was as low as it would go. The bottom of one of the worst Bear markets in history. On March 10th stocks rallied.
The Dow soaring almost 6 percent. Soon there was talk of economic rebirth.
Do you see green shoots?
I do. I do see green shoots.
By the end of year, the Dow was back above 10,000 again. Over the years, the Bull run would be tested in August 2011 by the U.S. Credit Rating downgrade.
The political brinkmanship we saw over raising the debt ceiling was something that was really beyond our expectations.
In early 2016 by plummeting oil prices and a slowing Chinese economy.
What`s going on in the UWAN, the Chinese currency that sharp devaluation is - - is very bad.
And just this February as markets spun lower over fears of the end of cheap money.
Worries over rising interest rates. Concerns about higher inflation.
Be it a (inaudible) downturn that stops the record run.
The risk of recession rapidly rises as we look out to the second half of 2019 and into 2020.
Something unexpected one thing is clear. March 9th, 2009 was the buying opportunity of a lifetime.
(END VIDEO CLIP)
10 Out of 10 - Professional Sand Artist
It`s one thing to draw your name in the sand or build a castle. It`s quite another to make a living as a sand artist. Now we`ve featured folks who create intricate sand sculptures at competitions world wide. But what Jim Dennivon (ph) does, the geometric patterns that he makes requires little more than a stick and a rake. And it`s only a matter of hours before it`s all washed away.
(BEGIN VIDEO CLIP)
(JIM DENNIVON, SAND ARTIST):
I just want to start and go and go and go. The longest amount of time that I can draw before the tide comes in, washes everything away. My name is Jim Dennivon (ph) and I draw in the sand. To draw in the sand is a balance between a mental game and a physical.
They`re both equally important. I started drawing in the sand a little more than 20 years ago. I was walking along the beach one day. It just came to me to use it as a canvas. I just put my finger in the sand and made a giant fish. I became really, really obsessed with it. I left behind the world both of surfing and a job as a chef. And then I just put everything into drawing in the sand. There`s almost in the whole world that - - that did this kind of thing.
I`ve drawn in the sand around the world, Australia, Uruguay, Argentina, Chile, Russia. I mean occasionally I`m commissioned but I`m also in places where, oh there`s a nice patch of sand. I think I`ll go do something there. The one that was 10 miles in circumference in the desert on Dry Lake is a Guinness World Record, largest art. I`ve walked as much as 30 miles in one day, which means about seven or eight hours of walking. I like the stick probably the best. Because I like to come down to the beach with nothing. The tools are sitting there on the beach. Sticks to choose from and I do my composition, do a nice big drawing and then I`ll throw the stick away.
I`m down with nothing and leave with nothing. For me that`s the most fulfilling choice of how to do it. Drawing in the sand is the ultimate of in the moment and I want to finish when the tide is about to destroy the drawing. This is going to change everyday. Anything I do down there is going to be gone and every time I`m going to have a big huge place to try something new.
(END VIDEO CLIP)
AZUZ: Would you call his canvas sandpaper? When it`s gone would you call it a wash? It certainly made waves even if it can only be measured in geometrics and it proves there`s more than a grain of truth to the saying, art is in the eye of the beach holder. I`m Carl Azuz. Sifting through news and puns on CNN.
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