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To an economy with a slower, more sustainable growth rate. >> absolutely. it's a very challenging transition, they're trying to get away from the export-led growth they relied on so much in the 2000, the investment-led growth they relied on so much in the past few years. they're trying to get more private consumption expenditure but of course volatilely doesn't help that. >> let's talk about that. this is an economy that has been huge infrastructure-building, huge projects, creating priming the economy and now they're talking more as you say about consumption, about the chinese market buying m...

Volatility. we got good economic numbers. gdp for the second quarter was revised up comfortably above 3%, every category from government spending to consumer spending to investment to housing was stronger. and then you had a lot of other reports that came in. so as a result of that, expectations actually picked back up that the fed may actually move in september and initiate rate hikes, which we think would be a positive sign about the economy and for investors as well. >> let me pick up on that as a final point because obviously a lot of people are concerned, the price of credit, the price of...

Does a better job that mike lee of utah of combining that optimistic vision with a willingness to take on the broken washington status quo, but to mix that second part, absolutely disqualifies you to be the republican nominee. and so they're going to have to as george is eluding to, taking on the status quo. >> we have to take a break here, we'll see you later. up next the stock market's wild week, what happens next and what impact will china slowdown have on the u.s. economy?

Perspective, the fed had 0% interest rate since 2008. that's an incredibly long period of time where they are still effectively treating the economic patient like it's in the trauma room. a message of confidence in the economy would be positive psychologically, but i also think it may take people off the fence that they might have been sitting on. okay, rates will start to go up. now i need to move, borrow to invest, to build. and i just wonder whether that's another way to think about this given that we're only talking about a quarter point, but we're talking about the message is sends from t...