Now, wages in the automobile industry are made up of two components, what we call base rates and the cost of living factor which is fed in by the operation of the escalator.

Well, first of all the Dominion Bureau of Statistics made a survey in the spring of 1970, which showed that on balance the difference in the cost of living between Canadian cities and American cities was 5 % to the advantage, of course, to the Canadian cities.

Dustin has what I call the X-factor. If he doesn't go out there with great stuff – and I don't think he went out there as sharp as he had been – but he's going to compete and give you everything he's got. What a great job he did to keep us in the ballgame.

That could cause the Fed to raise rates faster.

The conundrum is the Fed, and why the it keeps raising rates.

It's been clear that the Fed concluded rates were too low,