Stockbroker columnists are protecting their own interests: iLIVE

David Shapiro is someone who seems often to be opining on the global markets – yet he is a stockbroker who makes his living by persuading people into the market.

Thus his opinion that the world's global economy is not as bad as the economists are suggesting should rather be interpreted as mere puffery – playing to his own interests, after all how many turkeys would vote for Christmas?

And herein lies the major problem, both in South Africa and globally.

Too many of the commentators are speaking from a position of vested interest, driving the herds – the lemmings – over the cliff; all quite contentedly going with the masses.

But rest assured, these self-same Shapiros will not be around to pick up the pieces for us all when the reality of the situation becomes clear.

For a stockbroker to opine (after two days of quiet trading into the New Year) that things are looking up is the height of irresponsibility. The more so that none of the fundamental issues facing the world – yes, the whole world and not just Europe – have been properly even addressed, never mind overcome.