This is CBS Eye on the World.

Here's John Batchelor.

This is CBSI on the world.

I'm John Batchel.

The American economy, the global economy.

I welcome my good colleague Elizabeth Peake of the Hill economists of Fox News

economists, much on Fox Business, to comment on the concerns here at years end with an American

economy that is surprisingly strong if you follow the reports from the Federal Reserve. At the same time,

there are doubts, and some of them are exotic.

So I thought Liz and I would start with an exotic doubt this morning and then move towards substantive.

The headline in the Wall Street Journal, Bitcoin route picks up steam as investors fret over a new crypto winter subhead. Bitcoin had its worst day since March,

and it's down more than 30% from its peak. Liz, a very good evening to you. I do not speak

against people who own Bitcoin. I do not speak in favor or in any disregard for crypto.

It is clearly a new, new thing, and everybody loves a toy that moves around as much as crypto.

I have met people who have profited from their early investment in crypto and are thankful for it. At the same time, I have not found, and perhaps you have, any way to correlate

crypto prices with reality. Good evening to you, Liz. Good evening, John. What's wonderful,

of course, is that all these articles came out today. Journal had a big article, too, about

Bitcoin collapsing, crypto winter. And, of course,

Bitcoin's up sharply today, was up sharply today, sort of defying all the naysayers.

Once again, it was up 4% in the morning and closed higher. But the marvelous thing to me is that all the articles have been written about

Bitcoin being down, people losing money in it, et cetera, et cetera. Not one of them has a good

solid explanation about why the price has gone down over the last several weeks and months.

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