we can go back to gary, indiana giving us joseph stiglitz and grossman.diana. what is your policy prescription to help the poorest of poor people in america on this jobs day? or if we move beyond that, where there is no help, it is a welfare state. randall: there are lots of things that can be done. one, making sure we have a strong labor market and strong economic growth. that is important. also, inflation tends to hit people at the lower end of the bactrim harder. people at the lower end tend to hold more of their total wealth in cash or deposits. most people have been earning almost nothing on that as inflation has been going up a lot. trying to bring inflation down will also be something. tom: randall kroszner. jonathan ferro is on vacation over in italy. he says, get back to the stock of the federal reserve. can the jobs report actually shift from the federal reserve nerve as the go to the september meeting? i don't buy it. randall: unlikely, but if it is an extreme support -- an extreme report, it could. if we see the wage number going up very drama

joseph stiglitz, nobel prize-winning economist spoke about concerns he has over china's growth and whetherl to drag down the global economy. here is what he told our francine lacqua. joseph: china has sometimes been analogized to riding a bicycle. very hard to ride a bicycle at a very slow speed. for 40 years, the mentality has been a high speed system. when you have a high-speed system, you build property well in advance of what you need, you make mistakes, six months later, a year later, those mistakes are corrected because there is so much demand. now they have to do a better job of fine-tuning and i think their system is not well adapted to doing that, particularly under president xi, who has dismissed a large fraction of his economic experts. francine: is this first of all a political decision? he wanted to consolidate power and could only do that if the economy was stronger. does that change now that he has more control or do you think he is weakened? patrick: i think he is -- joseph: i think he is surely weakened. when you feel things are not going your way, you may respond in a mor

joseph stiglitz warned china may not have the leadership required to lead through slowing growth. eve stoke to stiglitz at the forum. >> it is not a surprise with the bad policy mistakes that they made that their economy is in bad shape. i don't know if they have the economic leadership to manage their way through this. this is a complicated problem and china hasn't gone through this experience. no country has actually gone through -- every country is different -- and the analogy may be useful. it used to be said that china was very special. it was like riding a bike and if you kept going at 7%, you could stay stable. if it slows down, there were so many forces with winds blowing one way or the other and the questions were would they be able to keep it going? an example being the way the property sector works. >>> coming up on the show, as giorgia meloni approaches one year as prime minister, we will look at how she is doing. steve will speak to pierroberto folgiero. that is next on cnbc. >>> welcome back to "street signs." i'm julianna tatelbaum in the london studio. steve sedgwic

you caught up with joseph stiglitz at one point. what is it for the big picture view there?ay i have been speaking to conservatives here as well. we know joe stiglitz is the nobel economist. he won the prize. he has been years a democrat. he is really worried. one is policy misstep from the federal reserve. he thinks there is a misreading of the demand picture on inflation. if we missed that demand picture, that means the fmoc has gone too far. in this case, the stickiness of inflation is less than it thinks of t thinks. he is worried about the chaos with the election and the leading republican candidate of mr. trump and if his court case will be settled before or after what it means for the american people or society. he had questions and comments on i.r.a. he is saying it is interesting. the government and biden administration thought it would generate $270 billion of activity. it is generating $1 trillion of activity. that is fascinating. that is great news in many ways. is that inflationary? >> steve sedgwick from the shores of lake como. thank you. have a nice weekend.

joseph stiglitz tells us why he is worried about china and europe that thinks the u.s. the united states and canada. still plenty of other action in most parts of the world and on the s&p 500, just a few indicators we can work without that of the united states. u.s. stock valuations, jp morgan is preferring international equities, describing them as much more attractive. looking here at the german two-year, we are off by 0.03. look at for the announcement from the german government at a time when there is already a debate around a potential plot. the greenback weaker on that china stimulus move and then brent crude holding firm at a show of $89 per barrel. i want to get to the wider markets. sam has been looking at some other important indexes. sam: good morning. interesting today that we are seeing quite a good picture of the european stocks here. i think you had a little follow over the u.s. on friday. pretty much came in exactly where was expected, exactly where markets wanted to, a kind of controlled cooling of the economy. mostly sentiment, i think, but you are als