This is a

is CBS Eye on the World.

Here's John Bachelor.

I welcome Elizabeth Peakek writing at the Hill, a columnist writing at Fox News a columnist,

on the American economy and the global economy, hours before the 2024 presidential election.

There is a very good evening to you.

Europe is watching closely our election and we have reason to watch Europe.

Because there is a report in the Financial Times these last days

that the European car industry, and I'm talking at Germany, Italy and France, those three major components, has regulated itself to not only

no growth, but negative growth. Hence, the Lower Saxony announcement that Volkswagen will now close plants and lay off thousands.

That's the report.

We'll see what happens because Volkswagen has been integral to German success since before the Second War.

However, that is an aspect I'm told by the FT of the over-regulation by the European Union. Mario Draghi, who's revered as a former

central banker and then for his time as Prime Minister in Italy after the

pandemic, has produced a report it's long but it comes to this

we've over-regulated ourselves we're non-competitive and the Chinese are coming

for the car industry and high and the energy industry. The US is growing

faster than we have hoped to be. That's the FT. The question for you, Liz, is there a reason to believe that our market is headed in the same direction?

Is the market now performing in a way where they're anticipating lower growth and regulations

that they haven't even imagined yet.

Good evening to you.

Good evening, John.

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