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A hard landing for China? Six top economists weigh in.

China's economy grew 8.9 percent last quarter, the slowest pace in 2.5 years, and on Monday Premier Wen Jiabao cut the nation's growth target for 2012 to 7.5 percent, an eight-year low. Worries of a Chinese hard landing, defined as a sharp and sudden deceleration in growth, have gained momentum. However, China has been proactive in its efforts to prevent a hard landing. It has fine-tuned its policies to curb inflation, boost domestic consumption, and prevent a housing bubble. The Chinese government intervened heavily from 1989 to 1991 to cool its economy, causing real growth in gross domestic product to plunge to 4.1 percent in 1989, from 11.3 percent the previous year. It stepped in again in 1993. And some argue that this time around it's no different, and that the government knows exactly what it is doing. So we asked six top China analysts whether they saw a hard or soft landing scenario and what we should keep an eye on.
Stocks plunge: four factors behind investor pessimism

The stock market is tanking. At midday Aug. 4, the Dow had fallen 300 points. The bond market is also beginning to growl like a bear. Investors are buying long-dated bonds while eschewing shorter-term securities to protect their assets, a clear indication that they feel the economy is likely to weaken further. High-profile economists are also turning gloomy. Former Treasury Secretary Lawrence Summers put the chances of another recession at 1-in-3; Harvard economist Martin Feldstein put it at 1-in-2. What's behind all the pessimism? Here are four big factors that are weighing on stocks and could determine the course of the global economy in the coming months:

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Stock market futures rebound as G-8 meet

Stock market poised to open higher as leaders of largest economies prepare to discuss Europe's debt crisis. Facebook shares also provide stock market lift.
A hard landing for China? Six top economists weigh in.

China's economy grew 8.9 percent last quarter, the slowest pace in 2.5 years, and on Monday Premier Wen Jiabao cut the nation's growth target for 2012 to 7.5 percent, an eight-year low. Worries of a Chinese hard landing, defined as a sharp and sudden deceleration in growth, have gained momentum. However, China has been proactive in its efforts to prevent a hard landing. It has fine-tuned its policies to curb inflation, boost domestic consumption, and prevent a housing bubble. The Chinese government intervened heavily from 1989 to 1991 to cool its economy, causing real growth in gross domestic product to plunge to 4.1 percent in 1989, from 11.3 percent the previous year. It stepped in again in 1993. And some argue that this time around it's no different, and that the government knows exactly what it is doing. So we asked six top China analysts whether they saw a hard or soft landing scenario and what we should keep an eye on.
Gas prices: How much will they hurt the economy? (+video)

Gas prices are slated to hit new highs within months. How might that affect the modest economic recovery? Here's a clue: Every 10-cent rise per gallon in gas prices costs the US economy $11 billion.
Stocks get a boost from Europe, corporate earnings

The Dow rose 69 points to close at 12462 as hopes for strong corporate earnings boosted the markets.
Robert Reich
Gingrich's tax plan takes him from irresponsible to reckless

Newt Gingrich's proposed tax plan would slash income taxes on the very rich, increasing the federal deficit by $850 billion in a single year. How can he get away  with this?
Stocks take a hit after Fitch warnings on US bank exposure

The Dow dropped 190.57 points to close at 11905 after Fitch ratings released a report saying that US banks could be "greatly affected" if Europe's debt crisis continues to spread
Moody's: France could lose AAA rating

Moody's France rating could be put on notice because of weak growth. After warning from Moody's, France Finance Minister Baroin said 2012 growth could be lower than estimated.
Bank of America: Fireproof it with 'asbestos deal'?

Bank of America's woes are so large that it could take a page from the asbestos settlements trusts of more than a decade ago. Bank of America faces a raft of lawsuits claiming it knowingly sold them securities backed by shoddy home loans.
Could hurricane Irene help the economy? Rebuilding as stimulus.

Money spent to rebuild after hurricane Irene may slightly stimulate the economy, especially as a result of insurance payments. But most expenditures will merely be diverted from one area to another.
Stocks plunge: four factors behind investor pessimism

The stock market is tanking. At midday Aug. 4, the Dow had fallen 300 points. The bond market is also beginning to growl like a bear. Investors are buying long-dated bonds while eschewing shorter-term securities to protect their assets, a clear indication that they feel the economy is likely to weaken further. High-profile economists are also turning gloomy. Former Treasury Secretary Lawrence Summers put the chances of another recession at 1-in-3; Harvard economist Martin Feldstein put it at 1-in-2. What's behind all the pessimism? Here are four big factors that are weighing on stocks and could determine the course of the global economy in the coming months:
Minnesota government shutdown nears an end, but at what cost?

The Minnesota governor and legislative Republicans say they have a deal to end a government shutdown that began on July 1. But budget experts say the deal is fiscally 'unustainable.'
Tech stocks trigger slide on Wall Street

Tech stocks reported poor earnings Friday, causing shares to fall. Tech stocks are seen as an early indicator for corporate earnings in other sectors.
Even your money-market fund could be hit by Greek default

Nearly half of US mutual fund assets are invested in European banks, some of which face big losses in case of a Greek default. Banks could see their ratings downgraded after a Greek default.
Bernanke center stage: one of five things to watch April 27

Bernanke press conference will be one for history books – and traders. Earnings will also be released from the likes of Boeing, BP, Starbucks, and Moody's.
One millionth Prius sold in the US

One millionth Prius sold Wednesday. US sales after the one millionth Prius may slow, however, because of the production slowdowns in the wake of the Japan earthquakes and tsnami.
Natural gas, other fuel for Japan: Who'll supply them?

Natural gas and other conventional fuel imports will rise after Japan's nuclear disaster. Asian exporters of natural gas, coal, and oil should see the biggest boost.
One year after bankruptcy, General Motors predicts a profitable 2010

General Motors has reported a $2 billion profit for the third quarter, and next week, the company plans an initial public offering on the New York Stock Exchange.
Chapter 11 shocker! National Enquirer publisher to reorganize.

Chapter 11 for debt-laden publisher of National Enquirer is not expected to affect operations or staff.
The Reformed Broker
Rating agencies play chicken against US economy

By refusing to allow their ratings to be used in bond registration statements, the rating agencies are threatening a still-fragile asset-backed securities market.
As Senate takes up financial reform bill, a look inside the sausage

The Dodd-Frank financial reform bill leaves too much discretion to regulators, creating the risk of regulation uncertainty for an industry that needs less risk, not more.
BP oil spill: New York Fed checking on Wall Street firms' exposure to oil company

BP oil spill: The New York Federal Reserve is investigating Wall Street firms' exposure to the oil company, in the event BP goes bankrupt over the Gulf oil spill.
Five big decisions as House, Senate confer on financial reform

Members of Congress began work Tuesday to resolve differences in the House and Senate versions of financial reform legislation.
New credit card rules: a punishment for responsible borrowers

The Credit CARD Act will mean higher fees, higher interest rates, and lower bonus points.
Pennsylvania's state capital considers filing for bankruptcy

Harrisburg, Pa., is debating whether to declare Chapter 9 bankruptcy. As cities struggle to balance their budgets, more may consider the option.
The New Economy
Top 5 scariest Halloween costumes from Wall Street

It's been a bear year for business. But this year's scariest Halloween costumes from the business world include a moose. And a vampire squid.