This is CBS Eye on the World.

Here's John Batchelor.

The American economy, the global economy, Liz Peake, writing a column for the Hill and a column for Fox News, observing the economy.

And we begin with the new year and the expectation

of the Trump administration moving us towards capitalism, which turns out to be the basis

of our success as a nation. Envied by our trading partners in Europe, guaranteed. All you have to do is read headlines

in the F.T. And you know, what about the Americans? What are they doing, Ryan? Envied by China.

Yes, that's right. The People's Republic of China, the miracle of the 20th century now admires the

American economy. And the trick, of course, is competition. Liz, a very good evening

to you. The economy, and we've learned not to get too excited because it's like somebody pitching a

shutout. You don't want to talk to them in the dugout. But everything is coming up positive these

days. I'm not looking for negatives. I did note from the reporting yesterday, other Bloomberg or the

F.T, that once there were 70% of the economists predicting recession next year, we're in it.

Now that number is reduced to 20%. Do they know something or are they just joining a parade?

Good evening to you, Liz. Good evening, John.

I think it's called momentum. I think everybody is looking at the incoming administration as

championing less regulation, lower taxes, things that definitely propel business investment.

And you alluded to it earlier, we are the shining city on the hill

right now in terms of international investors. They really have no other place to turn. Europe is

in stagnation mode. There's been a lot of chatter about how the EU needs to lower interest rates

and do various other things to propel business investment. I mean, it just isn't working.

Germany, as an example, is in recession. It looks like England is going to be heading into

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