Monday, January 23, 2017


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Ten minutes of world news starts right now.

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It’s great to see you this January 24th.

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I’m Carl Azuz, your host for CNN 10.

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First story: U.S. President Donald Trump has
signed an executive action to pull back from

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the negotiating process of the Trans Pacific
Partnership.

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Here’s what all that means: first, the Trans
Pacific Partnership, or TPP, it’s a controversial

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international trade deal involving 12 countries

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located around the Pacific Rim.

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It’s supposed to encourage more trade, more
business between them, partly by getting rid

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of tariffs, taxes on

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certain goods that countries import.

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Former President Barack Obama who helped negotiate
the TPP said it’d be good for American workers.

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But critics and some U.S. lawmakers disagreed.

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They said the partnership can lead to more
U.S. manufacturing jobs moving overseas.

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And while he was on the campaign trail, Mr.
Trump had promised

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to withdraw from the TPP.

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The Trans Pacific Partnership is another disaster,
done and pushed by special interests.

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The deal was not final and needed to be ratified
by Congress and Congress had not done that

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under President Obama.

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Many Democrats were

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against the TPP and though many Republicans
initially supported it, some backed away from

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it over time.

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The election of President Trump signaled to

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the other nations involved that the TPP probably
wouldn’t go through.

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Another international trade deal that candidate
Trump campaigned against was NAFTA.

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That deal was finalized years ago.

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But as president, Mr. Trump

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is now moving to renegotiate it.

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He’s blamed NAFTA for hurting American manufacturing
jobs but some leading Republican lawmakers

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say pulling out of

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NAFTA could hurt businesses across the U.S.

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You might have heard of NAFTA, also known
as the North American Free Trade Agreement.

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It was the first agreement of its kind and
still

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makes the world’s biggest free trade area.

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So, just what is it?

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Well, let’s begin with the basics.

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First, it includes Canada, the U.S. and Mexico.

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It was proposed in 1992 by these guys and
it was extremely

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controversial.

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Critics feared massive job losses, with businesses
packing up and moving production to Mexico.

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Supporters though, they claimed that

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it will lead to cheaper goods and that will
lead to economic growth.

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In fact, it was so controversial that in the
1992 presidential election, a billionaire,

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outsider, presidential candidate shot to the
top of the polls

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railing against it.

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Businessman Ross Perot.

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Sounds pretty familiar.

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But NAFTA won out in the end with Congress
and then President Clinton ratifying it in

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1993.

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We are ready to compete and we can win.

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NAFTA is a large, incredibly complicated document.

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But at its core, it’s pretty simple.

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Before NAFTA, when items were imported, they

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were taxed.

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After NAFTA, they weren’t.

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This protects goods made domestically at the
expense of consumers since the tax on foreign

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products

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is passed down, higher tariffs, more expensive
goods, less trade.

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Free trade agreements like NAFTA removed those
tariffs incentivizing trade and lowering cost

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for consumers.

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Tariffs were greatly reduced at the start

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of the agreement in 1994 and totally eliminated
by 2008.

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So, what did NAFTA accomplished?

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It’s not easy pinpointing the exact effects
that NAFTA’s had because there are many

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factors in how economies function.

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But since the agreement, U.S.

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trade amongst Mexico and Canada has tripled.

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The U.S. trade deficit with Canada and Mexico
has increased significantly.

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But according to this congressional report,
NAFTA actually hasn’t had that large an

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effect on the U.S. economy.

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NAFTA only increased the U.S. GDP by

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a few hundreds of a percent because relative
to the size of the total economy, trade with

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Mexico and Canada isn’t that big.

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So, the biggest question of all, how has it
affected American jobs?

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Economists agree there’s no simple answer.

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It’s impossible to completely separate the
effects NAFTA’s had on the economy from

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other external forces,

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like recessions, currency evaluations, technological
automation and overall increases in globalization.

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Many U.S. manufacturing jobs have moved

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overseas to countries that America doesn’t
even have free trade agreements with, like

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China.

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Overall, domestic manufacturing has taken
a spill.

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Oh.

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Trade has increased and goods are cheaper.

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There’s been a tense leadership change in
the West African nation of Gambia.

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This is the smallest country on the Africa
continent, population just over 2 million.

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Its former leader, Yahya Jammeh, took over
in a military coup

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in 1994.

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In the years that followed, the country became
a presidential republic with President Jammeh

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winning every election since then, until

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last month.

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That’s when Mr. Jammeh was surprisingly
defeated by a property developer named Adama

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Barrow.

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Though Jammeh conceded the presidency at first,
he then rejected the results and stayed put,

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while the new president was sworn in in neighboring

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Senegal last Thursday.

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Military troops from other countries the region,
supported by the United Nations Security Council

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were deployed to remove Jammeh from power.

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But

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after negotiations, Jammeh ultimately stepped
down and left the country.

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International troops are planning to stay
in Gambia’s capital to provide

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security as the new president takes over.

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Ten-second trivia.

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What do Hong Kong, Sydney, and Vancouver have
in common?

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Are they all north of the equator, south of
the equator, Pacific locations or Atlantic

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locations?

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Hong Kong, Sydney, Australia, and Vancouver
British Columbia are located around different

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parts of the Pacific Ocean.

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They’re also the three most expensive places
to live, according to a new survey.

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The Demographia International Housing Affordability
Survey

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comes out every year.

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What it does is compare median house prices
with median household incomes in a given area.

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The more than house prices

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exceed incomes, the more unaffordable a place
is considered.

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For the ninth year straight, Hong Kong came
in as the most unaffordable place to live

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on a list of 406 major city markets.

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Home prices there are

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18 times what the median household earns in
a year.

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In Sydney, they’re just over 12 times what
people earn.

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In Vancouver, they’re just under 12

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times the median annual income.

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Now, contrast that with one of the least expensive
places to live -- Racine, Wisconsin, where

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home prices are only 1.8 times what people
make in a year.

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Looking at countries, the U.S. had the most
affordable housing market overall, followed

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by Japan and the United Kingdom.

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On websites, customers can find things easily,
sometimes to save money, order with single

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click.

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But they may not spend as much time shopping
and

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they may be hesitant to buy something new
they can’t see in person.

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In stores, people can try on clothes, ask
for an opinion, return something immediately.

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Some retailers are finding the best business
is having the best of both worlds.

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Online shopping is expected to reach almost
half a trillion dollars in the next

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three years, but brick and mortar stores still
bring in 10 times that.

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So, how do you appeal to the shopper of today
and tomorrow?

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Be in both places at the same time.

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We’re finding that customers are really
responding and voting with their wallets when

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we open a store.

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And then it also creates awareness and drives
business to online sales, as well.

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Neil Blumenthal and Dave Gilboa started Warby
Parker out their New York apartment six years

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ago.

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Today, the company’s been valued at more

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than $1 billion.

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And in just three years they’ve opened 31
stores in the U.S. and increased online sales.

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For the traditional optical shop, you walk
in, the glasses are under a lock and key.

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They’re

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behind the counter, out of reach.

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You can’t interact with them.

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In our stores, we’ve used technology that
we built ourselves.

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So, when you go to check out, there’s not
a cash register.

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All of our sales associates have iPad minis
and they’re using software that we’ve

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written to help you check out seamlessly.

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So, you’re essentially making it very difficult
for people not to buy your product.

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We’re trying to use technology to enhance
customer experiences and really rethink the

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way that glasses are sold.

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That includes a user profile, just like you
would have on social media.

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That sales associate can take a picture wearing
the glasses and you in nicely formatted email

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with the click and you can shop out on your
way home.

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According to Warby, 85 percent of people who
go to their stores have been to their website

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first and their online sales are still more
profitable.

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You know, it’s funny, in a few years, I
don’t think we’re going to think about

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these businesses in terms of distinct channels
of

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online and offline, because it’s so integrated.

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So, we just need to build the company that’s
adaptable regardless of the medium.

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For "10 Out of 10", someone has totally lost
his marbles.

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And you thought we were just talking crazy.

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A trailer ripped open recently on an interstate
in Indianapolis, Indiana.

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No one was hurt but 38,000 pounds of marbles,
38,000 pounds, spilled onto

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an embankment on the side of the road.

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Yes, part of it had to be shut down, while
officials collected the marbles.

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According to Chron.com, police were planning
to use vacuums, though the site said someone

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on Twitter suggested they’d use hungry,
hungry hippos.

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Maybe that’s not a mar-oble idea.

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Even if you toyed with it, you’d find someone
who was game and if it worked -- hey, you’d

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be on a roll y’all.

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I’m Carl Azuz and you know I’ve lost my
marbles shooting puns like this.

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Have a great Tuesday.


CNN 10 - January 24, 2017 - English Sub

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