Buisness Insider

CHART OF THE DAY: Goldman's Quarter-By-Quarter Breakdown Of How The Fiscal Cliff Will Crush The Economy

The analysts at Goldman Sachs have been among the most pessimistic people to talk about the fiscal cliff — the tax cuts and spending programs that will expire automatically at the end of the year and slash GDP by around 4 percentage points.

Goldman's David Kostin has warned that fiscal "brinksmanship" will cause the S&P 500 to tumble to 1,250 by the end of the year.

In various surveys and anecdotes, U.S. businesses have indicated that uncertainty surrounding the fiscal cliff is preventing them from pursuing any major investments for growth.

Bottom line: the fiscal cliff is increasingly becoming a worry for the U.S. economy as the end of the year approaches.

Here's a quarter-by-quarter breakdown of how the various components of the fiscal cliff could smash the U.S. economy from Goldman Sachs via FT Alphaville's Cardiff Garcia:

Goldman Fiscal Cliff

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STOCKS GET CRUSHED: Here's What You Need To Know (DIA, SPY, QQQ, GE, MCD)

1987 Crash

The 25th anniversary of Black Monday wasn't pretty.

First the scoreboard:

Dow: 13,343, -205.3, -1.5 percent
S&P 500: 1,433, -24.1, -1.6 percent
NASDAQ: 3,005, -67.2, -2.1 percent

And now the top stories:

  • Two heavy hitters disappointed investors with their earnings announcements this morning.  First was General Electric, which reported earnings right in line with expectations.  However, revenue came in a little light.  And management cut full year revenue guidance due to its GE Capital unit.  "The overall environment remains difficult," said CEO Jeff Immelt.  The company saw strength in infrastructure orders in China, Latin America, and Africa.  Demand for wind turbines was expectedly weak.
  • McDonald's missed on the bottom line.  Even worse, management warned that global same-store sales growth was beginning to go negative.  Also in the fast-food space, Chipotle Mexican Grill tanked after it too whiffed on earnings and revenue.
  • Existing home sales fell to 4.75 million at an annual rate in September.  This was right in line with expectations.  However, the median home price was up 11.3 percent from a year ago.
  • It's unclear if there was any one thing to cause today's massive sell-off.  Stifel Nicolaus' David Lutz told us it could be a combination of worries in Europe, options expiration, Nasdaq falling below certain key technical levels, asset rotation, and even a Canadian M&A deal falling apart. 
  • Another area of uncertainty is China's leadership transition.  According to Reuters, seven names have been identified for China's Politburo Standing Committee.  Click Here To Get To Know Them Better >
  • Don't Miss: AMERICA 2050: Here's How The Country Will Look Three Decades From Now >

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McDonald's Is Launching Angry Birds From Its Golden Arches In China

Angry Bird Mcdonalds

No, your eyes aren't deceiving you. Chinese McDonald's are giving their Golden Arches a new purpose: serving as a catapult for Angry Birds.

According to a press release, customers can vote on which of the 1,500 branded location will host the life size slingshot "to protect McDonald's food from the pigs."

TBWA Shanghai worked with game developer Rovio to create the campaign, which involves online media, outdoor ads, and location-based promotions like providing gamers with extra power-ups if they play on their iPhones in McDonald's.

This is just the most recent chapter of Rovio's aggressive Angry Bird marketing blitz in China.

Although there's currently an unauthorized Angry Bird theme park in China, Rovio announced legitimate plans to "build hundreds, maybe even thousands of activity parks" in the country.

Click to enlarge the image below.

Angry Bird Mcdonalds

 

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