The demographic weight of countries such as China and India exercise a massive pressure on our wages and salaries. They have accomplished massive technological advances and the revolution in information technology has reduced the costs of transport.
When I was in Philadelphia during the Depression in 1930 or '31 I got a very sad job as a night watchman in a garage. The cars in the garage had been abandoned by their owners since they had lost their jobs and couldn't keep up the payments.
