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Abraxas 'AJ' Discala
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Abraxas J. Discala is the CEO of OmniView Capital Advisors. AJ brings over 20 years of experience in the merchant banking and financial advisory fields to his position. He began his career in the family real estate firm, Discala Fairfield, which was sold to Grubb & Ellis in 1989. AJ Discala... More
My company:
OmniView Capital Advisors
My blog:
AJ Discala Blog
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  • AJ Discala On The Cyprus Bank Bailout

    In a recent article on Forbes by Eamonn Fingleton, the author calls the Cyprus bank bailout "the single most inexplicably irresponsible decision in banking supervision." He continues to explain that this terrible botching of the Cypriot bailout will undoubtedly perpetuate the economic malaise that is afflicting Europe at the moment.

    He explains that, "It is already clear that though Japan for long has enjoyed exceptionally cordial relations with Germany (neither side advertises this but it is a fact), financial officials in Tokyo are now pressuring their German colleagues to relax the austerity policy. The most obvious outward evidence of this is Japan's sustained effort in the last four months to depreciate the yen."

    Weighing in on the issue, AJ Discala of OmniView Capital Advisors said, "Cyprus sets a troubling precedent of government power. It's a direct disgourgement of assets from many who are not responsible for the country's economic malaise. We have a less obvious, perhaps more powerful expropriation of assets in the US with Fed's manipulation of monetary system that devalues our currency robbing us of purchasing power without any oversight. Levy our deposits overtly or steal from us in the guise of stimulating the economy - which is worse? For Cyprus, probably a good move as they are collecting cash from many large Russian depositors to subsidize their small country. Immediate impact a non-event as country is inconsequential. That said, if you were an Italian or Spaniard, how would you be feeling about your bank deposits? Gold is looking good."

    Mr. Fingleton said he believes that President Barack Obama can be an important part of the solution. Fingleton says that Obama should talk to German Chancellor Angela Merkel - and do so "for the permanent historical record."

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

    Mar 20 12:45 PM | Link | Comment!
  • Good News

    " 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

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

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

    Feb 29 12:33 PM | Link | Comment!
  • Election Year Ahead- Tax Cut

    "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.

    Feb 22 12:34 PM | Link | Comment!
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