Alec Hogg: Markets take a hit as inflation back on agenda

With the Third Wave of the pandemic ravaging my home province of Gauteng – laying many friends low – it felt strange reading WSJ editorial page writer Barton Swaim's piece. But after approaching it with an open mind, much of what emerged from his interview with author O Carter Snead resonated. In essence, he argues the preferred zero risk approach to a virus with a mortality rate of 2 (mostly elderly) in 1,000 people has ignored what it is to be human – touch, interaction even the need to work. A must-read.

• Another piece from the Wall Street Journal that grabbed my attention is how lobbyists, especially for Big Tech, are now polecats in Washington. As the graphic above shows, the US's big four tech companies "invest" over $50m a year on lobbyists. Now that's starting to look like money down the drain. For instance, President Joe Biden refuses to consider job applicants with any ties to Big Tech. Ever since hearing Warren Buffett tell a Berkshire AGM there were 30 000 lobbyists in Washington (whose sole purpose is to "influence" politicians on behalf of their clients), I've wondered when Americans would kick back. Although it was Donald Trump who ranted about Draining The Swamp, Biden is the one actually doing it. Serious implications for Big Tech, especially as antitrust pressure grows. Click here.

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