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The Crowded Race Back to The Moon; Gen Z Taking on the Cost-of- Living Crisis by "Loud Budgeting." Aired 4-4:10a ET
Aired February 26, 2024 - 04:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
COY WIRE, CNN 10 ANCHOR: What`s up, lovely people. Rise up, pump to be back with you after a Georgia winter break. And welcome to CNN 10, the best 10
minutes in news because of you.
It`s motivation Monday, so here`s a thought, life presents choices. Then we make decisions. Those decisions influence our destiny. Let`s start this
week strong, shall we, with some historic news from space. The Odysseus lunar lander nickname "Odie" or the IM-1, became the first U.S. made
spacecraft to land on the moon in 50 years. It was a bit of a nail biter though. According to the craft developer intuitive machines, which says
engineers had to overcome navigation issues in order to make the landing possible.
The spacecraft position became a concern when flight controller said they were getting weak signals from the vehicle after a tense weight, intuitive
machines eventually confirmed that the lander was upright and able to send data back to mission control.
The purpose of this mission is to assess the environment of the moon`s south pole as NASA is planning to send astronauts there towards the end of
2026. This landing comes after a different us company, boarded its landing attempt last month.
Now, at the same time, the U.S. is accomplishing this feat. Other countries are looking to make their giant leaps to the moon as well. Our Space and
Defense Correspondent, Kristin Fisher has more.
(BEGIN VIDEO CLIP)
KRISTIN FISHER, CNN SPACE AND DEFENSE CORRESPONDENT: Humans landed on the moon for the first time over 50 years ago. Back then it was really only the
U.S. and Russia that were in the space race. Now, the European Space Agency says there are over 100 lunar missions planned for the moon before 2030,
and they`re made up of countries and companies all over the world.
So why is everyone racing to the moon again? Well, the main reasons are resources, exploration, and politics.
The moon is home to many resources like rare earth minerals and elements like the isotope helium three that could prove useful to mine. Helium three
is hard to find on earth, but it can be found all over the moon and is theoretically vital towards nuclear fusion of possibly game changing, clean
energy source.
Studies have theorized that water in ice form may be available in large quantities on the moon and mining could provide water and oxygen. The
critical elements needed to make rocket fuel and allow further exploration.
The U.S., Russia, and China all have plans to establish permanent bases on the moon, offering a jumping off point to explore Mars and go even deeper
into outer space.
But how legal is all of this potential activity on the moon? The 1960, `70 United Nations Outer Space treaty is signed by most countries when it comes
to lunar laws. But experts say that it needs some updating. It outlines that the moon should be the province of all mankind and should be used
exclusively for peaceful purposes. So military bases, nuclear weapons and weapons testing are forbidden.
The treaty also stresses cooperation, but critics say that it lacks any means of enforcement, which could prove diplomatically dangerous if it`s
exploited.
Now, in recent years, the United States has engaged in the new round of space diplomacy called the Artemis Accords. So far, there are more than 30
signatory nations, but notably China and Russia have not participated.
Many scientists are concerned that mining and development could affect experiments and scientific projects that are already in place. So although
there is this renewed rush to get to the moon, the future of diplomacy on the moon is a critical question.
(END VIDEO CLIP)
WIRE: Pop quiz, hot shot.
What was the name of the first modern credit card?
The Diner`s Club, Mastercard, Visa, or American Express.
If you said The Diner`s Club, put your hands up. The card was put into use in 1950, initially used only in local restaurants before expanding to
include retailers. One year later, The Diner`s Club had 42,000 members spanning major cities across the U.S.
Now, here`s a wild statistic for you. The total amount of Americans credit card debt surge passed a trillion dollars in 2023, but some economists say
it`s not necessarily a bad thing citing that the U.S. job market remains solid and wage growth is beating inflation.
Some economists are also saying that Americans are currently better positioned to pay down their debts. And in some cases they`re making enough
money to also stash some money away in their savings accounts.
Now, having conversations about your money can be tough. Like if a group of friends is headed out, maybe to get a bite to eat and we just don`t have
the dough to go. It can be tough to say I`m on a budget, bruh.
Well, a new TikTok trend created by comedian Lukas Battle aims at taking the shame out of being frugal, saving money. He uses a term called "Loud
Budgeting." And our Vanessa Yurkevich met with him to learn more.
(BEGIN VIDEOTAPE)
VANESSA YURKEVICH, CNN BUSINESS AND POLITICS CORRESPONDENT (voice- over): In an online world where opulence is king.
UNIDENTIFIED FEMALE: I was sad, so I went shopping.
YURKEVICH (voice-over): This was a joke.
LUKAS BATTLE, COMEDIAN AND WRITER: "Loud Budgeting" is a new concept I`m introducing for 2024. It`s the opposite of quiet luxury. If your friend
texts you, I want to hang out. You say, I don`t want to spend gas money on coming to you to hear you talk about your ex for three hours.
YURKEVICH (voice-over): Comedian and Gen Zer Lukas Battle, inadvertently started a new financial trend.
YURKEVICH: What is "Loud Budgeting?"
BATTLE: "Loud Budgeting" is kind of new terminology for people to use when they don`t want to spend money. And I think it`s a term people can use that
doesn`t make talking about money awkward.
YURKEVICH (voice-over): The joke took off with his more than 600,000 TikTok followers, financial influencers, and even himself.
YURKEVICH: Were you surprised by how many people have related to it?
BATTLE: Yes, only because, and I would love to say I`m a genius, brilliant economist, but this is like a concept that`s been around. And I really do
think the loud part in front of it is what people are kind of drawn to.
YURKEVICH (voice-over): Gen Z and millennials especially feel the burden of inflation, expensive housing, and student loan payments. Budgeting has been
around since the beginning of time, but in just the four weeks since Battle came up with "Loud Budgeting," more and more people are feeling they now
have permission to talk about it.
YURKEVICH: What do you think about that, being transparent about the fact that you`re on a budget?
JAMES SAMPSON JR. SOCIAL WORKER: I think more so it should be normalized about budgeting and saving.
YURKEVICH: Why do you think so many people are resonating with it?
VIVIAN TU, FOUNDER, YOU RICH BFF: Because for so long we have been shamed into silence. "Loud Budgeting" is amazing because instead of having to hide
and like be ashamed about the fact that you have debt or need a budget or want to save for certain things in your life, you can proudly say them and
share them with your friends.
YURKEVICH (voice-over): Gen Z and millennials, social media`s most active users, were either entering the job market or working when the pandemic
hit.
Despite having the lowest financial literacy of any generation, recent economic uncertainty has made them the hungriest for information.
TU: With the social edification of society, keeping up with the Joneses is no longer the Joneses. We`re keeping up with the Kardashians. So we`re
starting to get visualizations of wealth that most regular people will never, ever see in their lives.
And so if I`m a young person and I`m in an environment where I feel like it`s going to be challenging for me to succeed, I want to arm myself with
as much information as I possibly can to give myself that leg up.
(END VIDEOTAPE)
WIRE: For today`s story getting a 10 out of 10, we have two stories about two trailblazers as we celebrate the final week of black history month. The
first person who`s made a lasting impact is
Jane Bolin born in 1908. She was super focused and dedicated as a kid graduating high school at just 15 years old, persevering the challenges of
growing up as a black girl in that era, she`d go on to become the first black woman to graduate from Yale Law School. First to join the New York
City bar Association and the first black woman in the U.S. to become a judge.
She served on the bench for 40 years where she ended segregated childcare facilities and race-based assignments of probation officers. She said she
wasn`t concerned about being first, second, or even last because her primary concern was her work.
Next up, Max Robinson, who in 1978 became the first black person to anchor a nightly network news show on ABC`s World News Tonight.
(BEGIN VIDEO CLIP)
MAX ROBINSON, ABC "WORLD NEWS TONIGHT" HOST: Across the country, Frank, the city of Cleveland, which has received --
(END VIDEO CLIP)
WIRE: Robinson started his career nearly two decades earlier at a local news station in Virginia but his face was hidden behind a graphic. He later
moved to Washington and became the first black anchor in a major us city. Robinson became an outspoken critic of racism and of the way African
Americans were portrayed in the media. He`d go on to become one of the founders of the National Association of Black Journalists. Difference
makers leading the way.
All right, it`s time to show some love now. We`re heading all the way up north to the Aleutians Islands in Akutan, Alaska. The Akutan School. We see
you, Falcons.
And let`s keep flying high with more feathery friends. This shout out goes to The Eagles at Kennedy Middle School in Aiken, South Carolina. Thank you.
And thanks to all of you, who`ve subscribed and commented on our CNN 10 YouTube channel for your shoutout request way to start this week strong.
Let`s keep grinding and shining because that`s just what we do.
See you tomorrow lovely people. I`m Coy Wire. And we are CNN 10.
END
