Abraxas 'AJ' Di...'s  Instablog

" The Wall Street Journal is full of good news today. The Dow closed above the milestone of 13,000 and the fears of another recession seem to have been abated. But there is still no universal feeling of optimism that leads us to believe we are

entering a period of sustained growth. Cash is for the most part still sitting on the sidelines waiting for more good signs, or fearful of a pullback because those signs are not really evident.

The unemployment rate is still stated to be 8.3 % but most of know that the figure may be much higher. On the good news side it appears that banks are lending more, at least according to a report released by the FDIC which also showed that

the banking industry posted a $119 billion profit in 2011. Who are the banks lending to ? We still do not see any aggressive policy to help small businesses or start up companies. It is time that banks step up to the line the way we have at The

Broadsmoore Group by providing investment dollars to help build companies that will be part of the nation's future economy, said AJ Discala, CEO The Broadsmoore Group.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

"One of the items we can expect in an election is year is tax cut proposals. The race will now be on to see which party can cut the most to grow voter interest. The Obama administration is out today with a proposed corporate tax cut

from 35 % to 28 % and manufacturers would pay no more than %25 . Oil and gas companies would lose a lot of their current deductions. It is very unclear how this will fly, but we can be sure the opposition will say that this is not enough and

that it will be unfair to the energy sector. Of course there would be tax increases as well under this proposal and that is certain to cause an outcry form many who do not believe any taxes should be raised even on the most wealthy.

The simple fact is that we must get the economy moving aggressively and we hope that through a healthy debate, both sides will get to a tax proposal that will work. We just saw the miracle of both sides agreeing to the payroll tax cut

and perhaps there is some hope for future agreements on a tax overhaul.

Big retailers have seen healthy gains last month and hopefully that means consumer confidence is gaining. At The Broadsmoore Group we have seen a resurgence in the Gulf states with hiring at EmployUs and the many doors opening for

solid wage paying jobs that will speed that regions recovery. We hope that those successes can be duplicated in other locations, and The Broadsmoore Group will look for those opportunities to invest in the nation's future, " said AJ Discala, CEO The Broadsmoore Group.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

"Greece has managed to convince the European Central Bank that somehow they should forgive $142 billion in debt and save the country from defaulting on its bonds. Will Greece honor the measures that they must adopt in order regain financial stability? That remains to be seen. At least for now Europe has dodged a financial bullet and the Euro has been saved. A major part of the agreement calls on Greece to reduce its massive debt and to reduce the size of government and get its citizines to strat paying their taxes and not burying their money in the fields.

That is probably not a bad prescription for all of us. There is no question that we must reduce our own spending, and until we get the US economy on track we will not see revenue flow into our treasury in amounts that are necessary to maintain our own standard of living and keep the American dream a possibility for all of us. It is imperative that our political candidates focus on job creation and support of businesses both big and small. We are beginning to see some small

lessening of the credit by the banks. Many are starting to follow the efforts of merchants banks such as The Broadsmoore Group saw the need years ago to put private capital in the hands of small businesses that create jobs and provide growth opportunities for US workers.
At The Broadsmoore Group we look for companies that will help our citizens achieve the American dream of a good job, a safe home and a sound education for their children, said AJ Discala CEO The Broadsmoore Group.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.