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The Trump Administration Releases An Infrastructure Plan; A Stock Market Correction; Two Artists Use Spray Paint to Create Murals with Messages
Aired February 13, 2018 - 04:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CARL AZUZ, CNN 10 ANCHOR: Hi. I`m Carl Azuz with CNN 10.
And the first three stories we`re explaining this Tuesday are all related to money. The first involves a plan by U.S. President Donald Trump to
improve America`s infrastructure, its roads, tunnels, railways, water, power, and even broadband internet projects. It calls for $1.5 trillion to
be spent on infrastructure, but most of that wouldn`t come from the federal government. It would supply $200 billion in states, local governments and
private investors would provide the rest of the investment.
In recent years, states themselves have started paying more for infrastructure projects. The White House says it wants to accelerate that.
It also wants to dramatically speed up the process of getting projects approved and the building permits issued for them. That could take
anywhere from five to 10 years, the Trump administration wants it done in two years or less. It says it will take both executive actions and work by
Congress to make that possible.
The president says inefficient investments by lawmakers have allowed American infrastructure to deteriorate, causing the U.S. to fall further
behind other countries and that it`s time to give Americans the working modern infrastructure they deserve.
But critics say the Trump administration isn`t footing enough of the bill. Democrats in the House of Representatives announced their own
infrastructure plan last week. It calls for the federal government to spend $1 trillion on infrastructure, five times the amount proposed by the
president. And environmental groups say that spending up infrastructure projects could also mean bypassing rules and reviews meant to protect land
The Trump administration`s 53-page proposal is part of its overall plan for the U.S. budget.
Yesterday, one significant and closely watched indicator of the U.S. stock market jumped up. The Dow Jones Industrial Average, an index of 30
important stocks, ended the day 410 points higher than it started out. Over the last two days of trading, the market has recovered about a third
of the value it had lost since it took some nosedive starting late last month.
Analysts don`t yet if the drama is over. There maybe more drops ahead. But experts do think this is a correction, a decline that`s only temporary.
CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT: Fixing an error or inaccuracy, that`s how the dictionary defines a correction. On Wall
Street, it means something a little different. A stock market correction is a technical term that signifies a 10 percent decline from a recent high.
It`s less severe than a bear market. That`s when stocks decline 20 percent.
Now, a correction might sound scary but in fact, it`s a normal, healthy part of the cycle. The S&P 500 had four corrections from 2010 through
2017, and five from 1990 to 2000. That`s because markets aren`t supposed to go straight up, a breather once in a while is important, like a market
reset. It can keep stocks from overheating and allow investors to reevaluate their portfolios.
What you definitely shouldn`t do is panic. A correction doesn`t mean you should sell all of your stocks, on the contrary. It can be an opportunity
to buy. Remember, history stocks often go up after a correction.
AZUZ: It`s about to get more expensive to visit Disney theme parks in the U.S. The company announced this week that for its busiest days, a single
day ticket to Disneyland in California will cause adults $135. That`s an increase of 11 bucks. It will cause $129 for adults to get to the gates of
Disneyworld in Florida. So, factor in parking, and a family of four would need more than 520 bucks for a day at Disneyworld and that doesn`t include
hotel or food.
During its less crowded times of the year, Disney`s prices are lower but those are going up too. So, are annual passes. The company says it will
continue to evolve its pricing in a way that gives visitors a range of options to meet their budget and helps better spread attendance throughout
(BEGIN VIDEO CLIP)
AZUZ (voice-over): Ten-second trivia.
The painting technique of brushing pigments onto dry plaster is known as what?
Chiaroscuro, Fresco secco, Plein-air or Sfumato?
Fresco secco or dry fresco is a century`s old technique that was used extensively in painting murals.
(END VIDEO CLIP)
AZUZ: Meantime, the spray paint can, which led to entirely new art techniques wasn`t invented until 1949. But since then, it`s found uses in
everything from model cars to real cars, air brush t-shirts to air brush make-up, and famously, graffiti or straight art. Even that`s come a long
way from illegal vandalism to public murals paid for by local governments.
CBLOXX, STREET ART MURALIST: It`s like a form of therapy. You know, it`s what I do. It`s what I do to make me feel part of this big spinning ball.
REPORTER: Street art has come a long way from its humble and rebellious beginnings. It`s become popular the world over. From Instagram to the
most prominent of art galleries, it`s celebrated today in circles that once let down their noses at it.
CBLOXX: There`s something uplifting about seeing public cart and seeing murals going up around. It changes the face of a city sometimes.
REPORTER: This is Nomad Class, a British street art duo who made a big name from themselves globally. They painted giant murals in cities all
over the world, commissioned by governments, galleries, NGOs, companies and brands. They`ve been invited to exhibit everywhere from the gilded horse
of London`s St. Paul`s Cathedral to the jungle refugee camp in Calais, France.
Social, environmental, and humanitarian issues are often their focus.
CBLOXX: Street art has always been about putting a message out there and questioning things and getting people thinking and talking. And just
because we paint like giant public art murals doesn`t mean that we want to remove those elements from our work.
REPORTER: Their works are set apart by strong focus on local history and culture.
AYLO, STREET ART MURALIST: We like to have our murals connect with the place that we painted them in.
CBLOXX: It was to help sway city councils and authorities because they`re often quite proud of it or wanting to introduce as an angle of tourism.
REPORTER: Works like this required detailed planning as a mistake on this scale isn`t easy to fix.
AYLO: It`s the most intense part is getting the sketch down and getting the sketch on it right. That`s the framework that you build from.
REPORTER: In 2017, the pair created the U.K.`s tallest mural. It was part of a project called "A City Less Gray", aiming to inject color into the
urban streets of Leeds.
Seven months planning, one month in creation and over 300 spray cans later, Athena Rising stands at 150 feet tall and 36 feet wide. That`s around the
same height as the Statue of Liberty.
CBLOXX: I think one of the things we do is mash up the storytelling element with some of the heritage stuff, maybe social issues that we`re
touching on. But we`re presenting it in a way that everyone can enjoy on a visual level. Every time we paint a mural, one of our ideals is making
sure that the local community have a sense of ownership over it.
AYLO: They`re the ones who are going to see it every day when we go away.
CBLOXX: Yes, we don`t have to look at it every day.
AZUZ: There`s a debate about what the world`s greatest dog show is. Crufts claims to have that title. It`s an annual event in Birmingham,
United Kingdom. So does the Westminster Kennel Club Dog Show, an annual event in New York City, USA.
One thing that`s not debatable is that the American event is older, having held its first show in 1877. It was named for an old hotel in Manhattan.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: Every February, the dogs descend Manhattan, and it`s for the 142nd annual Westminster Kennel Dog Show. We have 3,200 dogs
coming this year.
UNIDENTIFIED MALE: This is the meet the breeds.
UNIDENTIFIED FEMALE: His name is Teddy. This is papachodavos (ph).
UNIDENTIFIED MALE: This is a fun time, you know, just to get out and teach people about the breed.
UNIDENTIFIED GIRL: We`re really like learning about different breeds of dogs.
UNIDENTIFIED FEMALE: We have a boxer kissing booth, because why not?
UNIDENTIFIED FEMALE: We have the fifth annual masters agility championship going on.
UNIDENTIFIED FEMALE: This is the first time I`ve ever been in. I`ve been watching them on TV and it`s just so exciting to see in person.
UNIDENTIFIED FEMALE: This show is the second longest continuous held sporting event in the United States, and the reason it`s been able to
maintain that is the fact that it`s about dogs. I mean, man`s best friend, what can`t you not like them?
(END VIDEO CLIP)
AZUZ: I like the names of the champions. Not just the ones like lock and houses, rumor has it, or after all painting the sky, but the really famous
like Raphael the Dalmatian, Russel Willshun (ph), Maria Shivapova (ph), Karl Malutian Anthony (ph), Eli Dobermanning, Vizsla Williams and, of
course, Airedale Rogers.
I`m Carl Azuz and that`s CNN 10.