Apple math, BlackBURIED, and doomsday pads
Talking Squawk, the official "Squawk Box" blog, provides tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME from the notepad of the show's senior executive producer.
Upside down world
The government can't get the economy moving out of its funk. The Fed's estimates are still not matching up with reality (Google: "non-taper"). So why is it so hard to figure this economy out? Maybe it's because this economy just doesn't work the way we all learned back in "Econ 101."
Case in point: I don't remember reading in college about examples of major Japanese automakers building Japanese cars in the U.S., so they can export them to Latin America. But as Jim Lentz, president of Toyota North America, told us this week, that's exactly what is happening.
Under the minivan
Buying a car can be a very different experience for women than for men. TrueCar claims it can level the playing field. True or just sexist? Check out our segment with Jane Wells. (And notice 5:54 into the video how Becky throws her husband under the minivan on national television, and then backs-up to make sure she got him. I sure do feel sorry for that guy.)
No middle ground
Washington is a big problem? There's no longer room for the middle ground, according to Peter Orszag, former Obama OMB director and now vice chairman of global banking at Citigroup. He came on the show Thursday and summed up why our beloved government is so screwed up.
Banking on bitcoin
OK, is it bad to admit that we really don't get it? Bitcoin that's is. It's a digital currency, we think, sort of, maybe. Apparently there is a bitcoin fund. You can invest in "bits"? Help! Here's Barry Silbert, CEO of SecondMarket, trying to explain this product to us. Good luck!
Bezos: "Be interesting"
On "Squawk Box" Jeff Bezos means one thing: the old Bezos laugh track tape from the 1990s that we keep bringing out periodically. But our Jon Fortt caught up with him this week, and got more than just a laugh out of him.
Amazon's upcoming high-end tablet, the Kindle Fire HDX, won't make money, Bezos told Jon. "We think we're better aligned with our customers if we make money when people use our devices, not when they buy them." (Huh?)
Tom Lee ... market maestro
In past editions of Talking Squawk, we have pointed out how right JPMorgan's Tom Lee has been about the market (and what a good sport he is—remember that USA Today photo?). This week, he gave us some reason to feel OK about the Fed's recent lack of action. He views it as a market insurance policy for the upcoming budget battle on Capitol Hill.
Ribs for breakfast
We've never seen Joe so excited (and hungry) about anything we've done on TV, as when we had Evan Andrews from Ohio live in studio. So who is Evan Andrews? He runs the Montgomery Inn, home of the original "Ribs King."
Apple said it sold 9 million iPhones in three days. Just for you math geeks out there, follow me. There are 86,400 seconds in a day. Now, we can multiply that by three and you get 259,200 seconds in three days. Now take 9 million, and divide it by 259,200 and you get 34.72 iPhones sold every second. Conservative estimates have Apple bringing in about $5 billion in revenue over those three days.