"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.