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Getting Your Finances in Shape for the New Year; A Look Back at Late-Night Through the Year; Berman Rocks Out with Senior Citizen Chorus. Aired 6:30-7a ET
Aired January 1, 2020 - 06:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ALISYN CAMEROTA, CNN ANCHOR: Welcome back, everyone, to this special New Year's Day edition of NEW DAY.
JOHN BERMAN, CNN ANCHOR: Happy New Year.
CAMEROTA: We have a lot to get to this half hour, including the most valuable New Year's resolutions you can make.
BERMAN: And be ours.
CAMEROTA: Christine Romans has some money-saving tips to make 2020 off to a good start.
BERMAN: The year has just starting in New York and you're sick of me. I can tell. It's taken like 25 minutes.
BERMAN: And the late night comics making hay of the biggest political headlines. We have the highlights ahead.
First, let's get a check of the headlines at the news desk.
RYAN NOBLES, CNN ANCHOR: Good morning and happy New Year. I'm Ryan Nobles.
North Korean leader Kim Jong-un says his country should feel to resume nuclear testing, he says, it's because the U.S. continues to apply sanctions on his regime. President Trump hoping things remain calm.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENT OF THE UNITED STATES: He's representing his country. I'm representing my country. We have to do what we have to do.
I think he's a man of his word. So, we're going to find out. But I think he's a man of his word.
(END VIDEO CLIP) NOBLES: North Korea last tested a nuclear weapon in September of 2017.
Deadly wildfires in Australia's New South Wales claiming seven lives in 24 hours. Among those killed, a 63-year-old man and his 29-year- old son. They tried to defend their home instead of evacuating. Authorities are working to open roads along the south coast of New South Wales for evacuation efforts. Conditions are expected to worsen by Saturday.
I'm Ryan Nobles. Let's go back now to John and Alisyn.
BERMAN: A New Year, a new decade and a new chance for resolutions especially when it comes to your money.
Chief business correspondent Christine Romans is here with a look of how to get your finances in shape for 2020.
CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT: Can we first play a game of would have, could have, should have? Because the last year was great for investors. The last decade was great for investors.
Let's look at the year. Twenty-five percent return for the S&P 500. Isn't that amazing? That's the best year since 2013. It has been a remarkable 10 years.
Guys, can I show -- look at that, 245 percent return for the S&P 500. What a decade it has been.
Let's take a look at this -- this is the would have, could have, should have. Wow. If you could put a grand in each one of these stocks 10 years ago, Netflix, Ulta Beauty, Amazon, MasterCard, United Health, Apple, Chipotle. Look at the returns on some of those stocks.
CAMEROTA: Oh my gosh. And were you counseling us a year ago, too?
CAMEROTA: Stuff all our money as.
ROMANS: I will be honest. Ten years ago, it was really ugly, right? The housing market was blowing up. People were losing their jobs. Factories were closing.
But if you have made those investments at the time, that shows you like the power of the American economy and American investments.
BERMAN: Well, since you didn't tell us 10 years ago, tell us now.
BERMAN: Where are we going?
ROMANS: So, that's where we've been. Where are we going?
Well, look, 2020 doesn't look like it's going to be quite as gang busters, at least if you believe "The Wall Street Journal" poll of strategists. They think the stock market will be fine. The economy will be accelerating, but so, so. More like single digit returns.
We're into ten years economic recovery, guys. The longest bull market in history. Global growth is slowing. There is still some uncertainty over trade policy.
The Fed is expected to keep interest rates near historic lows. Wells Fargo expects Jerome Powell, that guy there, in the Central Bank, will be patient this year but they could act as needed to support the economy. Translation in real people terms, that means mortgage rates stay low.
I mean, those are things you can't control, right? The Fed, interest rates, stock market. All of that is sort of out of your control, though.
CAMEROTA: OK, well, what are the top financial resolution that's people make?
ROMANS: Yes. So, the things that you can't control, right? Well, Fidelity says, Fidelity Investment says there's three most popular financial resolutions this year in 2020.
Saving money -- yes, I did one every year. That paying down the debt -- yes, that's also in my list every year. And spending less.
This is pretty predictable, but people really have to follow-through on those. It's really the only protection you have against the top money worries.
Those are also according to Fidelity, unexpected expenses, personal debt, not saving enough, rising health care costs, the economy, and the volatile stock market. All those things are really concerning for people and voters.
BERMAN: I normally have a bracelet but I'm not wearing.
CAMEROTA: Me too, WWRD.
BERMAN: Yes, what would Romans do? So I look to 2020, you know, what would Romans do?
ROMANS: You know, if you are overwhelmed about making a financial resolution right now, fine. Wait until your birthday then do it. But make sure you have a time when you can really sit down and get a gut check on your finances.
My advice: save to check your 401(k). Do it. Rebalance it right now to make sure it's right for your age and your risk tolerance. I mean, you're really closer to retirement, it should not all be in stocks.
Stock away money into 529 college savings plans. You have heard me say this. And ask your parents and kids grandparents to do it, too. Stuff does not get you through college or get you to retirement.
Savings gets you through college and into retirement.
I also like to tell everybody, you know, you have to have six months expenses saved for an emergency. Live below your means. Live below your means. That is the easiest, most important thing to do.
Then you invest the rest. There is nothing wrong with a nice boring S&P 500 index fund.
BERMAN: You live on the edge. Romans lives on the edge.
ROMANS: But it has been boring, 245 percent return, and just a standard, boring, plain, vanilla S&P 500 index fund.
BERMAN: Happy New Year, Christine Romans.
ROMANS: Happy New Year, you guys.
CAMEROTA: You too. That is some 2020 vision for you that she's got.
BERMAN: I like that.
CAMEROTA: Thank you very much, Christine.
ROMANS: You're welcome.
BERMAN: So, late night TV was laser-focused this year on politics and impeachment. We'll take a look at how comedians took on President Trump, next.
CAMEROTA: These musical stings are very telling.
BERMAN: We're going to do every instrument. We're going to do every instrument. What they put yesterday, the (INAUDIBLE)
CAMEROTA: We're going to get to that.
BERMAN: We're going to get to that at some point. Stick with us. (INAUDIBLE) coming up in the next hour.
CAMEROTA: OK. And that leads into this perfectly, because the year 2019 had endless comedic material --
BERMAN: I wasn't kidding.
CAMEROTA: -- to work with. Captured by the late night comics.
Here's just a taste.
(BEGIN VIDEO CLIP)
UNIDENTIFIED FEMALE: I know in past debates, I've been accused of being overambitious, right? I got mom hosting Thanksgiving energy.
UNIDENTIFIED FEMALE: I'm just going to have fun and see if I can get some viral moments. Momma needs a gif. I'm going to tell my kid, this is Michelle Obama.
UNIDENTIFIED FEMALE: I want you to know that I smell your fear and it makes me stronger. I'm wearing a white suit of your fallen hero Hillary Clinton. Now fight me, cowards.
UNIDENTIFIED MALE: I see in the faces you all make when you -- when I talk, you're scared. Scared I'll say something off color or even worse on color.
(END VIDEO CLIP)
CAMEROTA: I forgot about how good that one was.
Joining us now is CNN chief media correspondent Brian Stelter, and CNN media analyst Bill Carter. He's the author of "The War for Late Night."
Happy New Year.
BILL CARTER, CNN MEDIA ANALYST: Happy New Year.
CAMEROTA: Gosh, they nailed it. I mean knows are really good. And Woody Harrelson as Joe Biden is great.
CARTER: I love the teeth.
CAMEROTA: They make it.
BRIAN STELTER, CNN CHIEF MEDIA CORRESPONDENT: It's hard for Democrats in real life to stand out from the Trump noise. Sometimes the comedy can stand out more than the actual professional politician.
BERMAN: I don't know if it hurts. Is there any sign that any of those spoofs hurt the candidates?
CARTER: I don't think so. Actually, I think actually it's become kind of a thing. If you get on, it indicates you're worth talking about.
And really, it's good that they do the Democrats too. They obviously do Trump so much. To do that debate really is, I think, you know, a little bit changeup. It's a change-up. People like it.
STELTER: Six more debates to do coming up. CAMEROTA: You're right. Again, 2020 will have an endless amount of
comedic material as well. And so, you know, SNL, waxes and wanes, people say has good years and bad. 2019 was a good year. They have a great cast. They've done great work with all of the politics in the air.
So here's one of your favorite moments. This I think involved Michael Cohen.
CARTER: Yes, Michael Cohen.
CAMEROTA: Watch this.
(BEGIN VIDEO CLIP)
UNIDENTIFIED MALE: I'm providing the committee today with several documents. This is a check, Mr. Trump wrote me as reimbursement for hush money I paid to Stormy Daniels. And this is a copy of the check I wrote to Ms. Daniels.
UNIDENTIFIED MALE: Quote, Mr. Cohen appears to have lost his moral compass. Burn. Mr. Cohen has pled guilty to a smorgasbord of fraudulent activity.
UNIDENTIFIED MALE: Yes, and then right after that, it says at the direction of President Trump.
UNIDENTIFIED MALE: It does? Oh, damn it!
(END VIDEO CLIP)
BERMAN: Bill Hader is Jim Jordan.
CARTER: Bill Hader is fantastic Jim Jordan. His eyes popped out of his head in that segment. And he was yelling intensely.
What is interesting though is you see this all year. The stuff that you see is an exaggeration of the truth. But, basically, everything is what happened. They're just playing off the actual events.
CAMEROTA: So here is a moment, again, SNL, because Alec Baldwin, as you know, does an entertaining President Trump. And so here is one of those moments.
(BEGIN VIDEO CLIP)
ALEC BALDWIN AS PRESIDENT: So, I'm going to sign these papers for emergency. Then I'll immediately be sued and the ruling will not go in my favor and then end up with the Supreme Court. And then I'll call my buddy Kavanaugh and I'll say it's time to repay the Donnie. He'll say, new phone, who dis? And the Mueller report will be released. Come to my house of cards and I can just plead insanity and do a few months in the puzzle factory, and my personal hell of playing president will finally be over.
(END VIDEO CLIP)
CARTER: Well, you know what is interesting about that is that there's been talk about Baldwin doesn't want to do it anymore.
BERMAN: What about it?
CARTER: Yes, that he wants --
STELTER: Well, they've been using him less and less, right?
CARTER: They have used it less because they don't want to overdo it.
CARTER: And people have sort of said he's gotten to the point where he is kind of exaggerated to the max. You know, he can't did it much more.
BERMAN: Is it a risk if you always have to bring in a star rather than using your cast?
STELTER: Yes, it is a risk. It definitely is a risk. But I think at this point, the Trump jokes, is there any Trump joke left to be made at this point? Is Trump perhaps the least interesting thing for us to do?
I'd rather them play on other characters, portray other individuals in the news I think it may be more entertaining.
CAMEROTA: I don't know if you're going to get your wish in 2020. As we say, there is constant material.
BERMAN: So, that's "Saturday Night Live."
The late night comics, if we're talking, you know, Kimmel, Seth Meyers --
STELTER: Yes, doing it every night. Yes.
BERMAN: They do it every night. And there are times when there are jokes. And there are times they're not kidding so much.
BERMAN: And it's hard to tell. It's not hard to tell. It's easy to tell sometimes, but they're getting very political. STELTER: There is still a real market for this anti-Trump comedy.
CAMEROTA: Well, it's political satire as old as the country.
CARTER: It is. But you know what's interesting? Political satire used to not play that well.
You could really overdo political satire. I remember Lorne Michaels say I can't do that much of this because people don't really follow the news that closely. But this is -- it's so in your face that they can't not do it. I also think they believe what they're saying.
STELTER: Yes, the president is making stuff up, imagining a hurricane hitting Alabama, like, you've got to make fun of that.
CARTER: Alligators in moats, how can you not make fun of that?
BERMAN: Brian Stelter, it's interesting you brought up the Alabama thing.
STELTER: Well, I'm haunted by it. I'm still haunted by it to this day.
BERMAN: Seth Meyers on that.
CAMEROTA: Is as well.
(BEGIN VIDEO CLIP)
SETH MEYERS, COMEDIAN: Yesterday, he seemed to alter a forecast on the storm's path from last week with a circle added in sharpie to include Alabama. My favorite thing about this is that he didn't even try to blend it in. He could have at least sent an intern to Kinko's to print up a new chart. So, yes, what are you trying to do here/
We want to fake a hurricane map to retrofit a lie the president told to the American people. OK, when do you need it by?
(END VIDEO CLIP)
CAMEROTA: I mean, it's funny to see it again.
BERMAN: Again, I submit there's not a joke there.
CARTER: No, that happened. This happened, everybody.
CAMEROTA: That is the joke, that happened.
CARTER: Yes, that happened, with a sharpie just drawn on the map. That's what I mean, it gets to a point where how do you parody someone doing things that outrageous? It's very hard.
But I think they do it well. I mean, I think it's a blessing and a curse. They love having the material. But at times they say I can't write a joke better.
CAMEROTA: We can't build on that, yes.
CARTER: Yes, how do we build on that?
STELTER: So, how many days now until election day?
STELTER: Three hundred and something?
BERMAN: Well, Iowa is a month away. That's what matters.
CARTER: There you go.
CAMEROTA: Gentlemen, thank you for the laughs this morning. Happy New Year.
CARTER: Happy New Year.
CAMEROTA: Great to see you guys.
BERMAN: So we love to bring you stories of remarkable people having a lasting impact around the world.
Up next, I introduce to a band of rock and roll seniors --
CAMEROTA: Oh my gosh, I love this.
BERMAN: -- who inspire people of all ages.
CAMEROTA: Are you going to sing?
BERMAN: I might.
BERMAN: So last year, which is to say yesterday and before, we brought you stories of exceptional people who are making a lasting impact around the world. We call the series "Champions for Change." It's our chance to revisit amazing change makers we met in the past who in my case literally rocked my world.
So you might have heard of the Young@Heart Chorus. There was a documentary on the group and that's when I worked for them working for "Nightline" at ABC. They're an antidote of cynicism and a inspiration to new groups of people every day.
BERMAN (voice-over): The Young@Heart Chorus has a unique membership.
BOB CILMAN, DIRECTOR, YOUNG@HEART CHORUS: It's a performance group of older people ranging in age now from 75 to 90.
BERMAN (on camera): And how young are you?
UNIDENTIFIED FEMALE: Seventy-eight.
UNIDENTIFIED FEMALE: I will be 90 in November.
BERMAN: When you're up there singing, do you feel 90?
UNIDENTIFIED MALE: No. I don't feel any age.
BERMAN (voice-over): And the chorus has a unique repertoire.
(on camera): Seniors singing rock and roll is the simplistic way of saying it, yes?
CILMAN: It is. It's a very limited way of saying it, yes.
BERMAN: Why limited?
CILMAN: Because there's more to it than that.
I think for older people, I think it's a real joy to see people on stage opposed to in the seats in the audience. I think that breaks a lot of rules. And I think that the music we choose to do breaks a bit of the mold of what seniors are used to singing.
STEVE MARTIN, MEMBER, YOUNG&HEART CHORUS: Don't give up when you get older. Don't be afraid of getting old, because you have so much to offer. You have so much to give.
BERMAN: So the first time I visited with the young at heart chorus, it was 2008. I had spent much of the previous five years going back and forth to Baghdad covering the U.S. war in Iraq. I meet Young@Heart and what I really need more than anything is a story that's, you know, not violent and will just make me smile. And, man, did I find it.
When I first met you 11 years ago --
BERMAN: -- you told me --
MARTIN: It's like the Super Bowl. The world's best Bar Mitzvah, and being ordained as a pope.
I still feel that way. It gave me a purpose to get up in the morning and come to rehearsal and participate in something that just was great.
BERMAN (voice-over): And everyone needs to participate. As I learned, even a reporter can't stand around and watch.
(on camera): We were getting ready to go and you said to me, no. Wait a minute.
So I sang Barry Manilow's "Copacabana."
BERMAN: The chorus is always 25, 26 members. And it changes.
BERMAN: The membership changes.
CILMAN: Yes, it does. We lose a lot of people. We've lost a lot of people. There's maybe four or five people left from the chorus you saw in 2008.
BERMAN: So, 11 years ago, Young@Heart had performed in a prison basically once or twice. They went in and they sang before the prisoners and it was a very moving experience, but it was performance.
Now, 11 years later, it's part of their program. They're inside the prisons singing with the prisoners.
When you hear Young@Heart is coming, when you see in the calendar --
AARON FOGG, INMATE, HAMPSHIRE COUNTY JAIL: I get excited. I get excited. It'll be like the night before and I already want to go to bed early. It keeps me going. Definitely.
CILMAN: They know it's an hour or an hour and a half where they're going to be able to just really express themselves in a way they feel comfortable doing.
ANTHONY RODRIGUEZ, INMATE, HAMPSHIRE COUNTY JAIL: It's out of my comfort zone. I'm just doing this because, I don't know.
I want -- I want to change. You know what I mean? I want to be a new person. It's a new side of me.
BERMAN: Do they inspire you?
RODRIGUEZ: Of course.
MARTIN: It's a blessing to both of us. The prisoners and to us. We mix between the grandfather or the grandmother that they can't see or may not even have. We're saying to them, look, you're OK. You're going to be all right. Don't quit.
BERMAN: What's changed for you since we first met?
CILMAN: My age. I've become one of them. I'm now 65. You know, I get Medicare. The average age of this group is 84. I can't imagine what I'm going
to be doing when I'm 84. So, I look at what they're doing and have deep appreciation for it all.
BERMAN (voice-over): And I do, too, because if they can do it, who am I to say no to a little James Brown?
MARTIN: This chorus, someday, people will look back and they'll say they did a good thing for people of all ages.
CILMAN: Quit your day job.
BERMAN: I'm not going to have a day job after this.
CAMEROTA: Well done, John Berman. You've missed your calling, I feel.
BERMAN: Look, they make you do it. You can't not sing when you're with them. And so I figure, if I'm going to do it, I might as well.
CAMEROTA: No, I thought you did it really well. I mean, do you have rock star aspirations? Because I think you could do it.
BERMAN: More musical theater. I mean, sorry. Am I not supposed to admit that? Are we on TV right now? No one's seeing this, right?
CAMEROTA: No, no, this is live.
CAMEROTA: That was excellent.
BERMAN: Thank you very much.
CAMERTA: What a great story.
All right. As we begin the New Year, the impeachment drama enters a new phase and our special New Year's Day edition of NEW DAY continues right after this quick break.