Geraci Sees Upturn In Economy; Says U.S. Is Now World's Top Petroleum Producer

Friday, June 13, 2014 - by Hollie Webb

Sal Geraci of Wealth Advisors, LLC told members of the Chattanooga Civitan Club on Friday afternoon that while markets generally perform the best in pre-election years, this year "the market could still give you good returns."

He told the club that currently inflation is only running at approximately two percent. He also said it was not predicted to go much higher over the next few years.

 He said that job recovery continues in an upward slope since the most recent recession.

He described this slope as similar to the comeback after the 2001 and 2002 recession.

 As for areas to watch, he said, "We should still see continued growth in the vehicle industry."

 He also described the petroleum market as a "bubble" right now due to increased oil production from fracking.

 Mr. Geraci said, "We are now, believe it or not, the largest producer of petroleum in the world. We now have estimated reserves larger than all OPEC productions put together."

 

He said, "Sooner or later I think the government will figure out that oil is important to the world economy."

 

He discussed North Dakota, saying the oil drilling there had created thousands of jobs. He said, "For every one drilling job created, there are five support jobs created."

 

Comparing the tax situation here to that of the rest of the world, he said, "Even though we all hate paying federal taxes, our tax burden is still relatively low compared to other countries."

 

Mr. Geraci said the greatest area of concern for the future is the federal debt. Currently, the federal debt percentage of the GDP continues to grow at an alarming rate.

 

 


New Hamilton County Businesses

Here are the new business licenses from the County Clerk's office: ABSTON AMP & GUITAR REP 835 RUNYAN DR CHATTANOOGA, TN 37405 ANCHORED ALLIANCES 59 FAIRHILLS DR CHATTANOOGA, TN 37405 ASHLEY ENTERPRISES INC 1020 E 13TH ST CHATTANOOGA, TN 37408 BEAMHIT INC 4824 HIXSON PK STE B HIXSON, TN 37343 CHATTANOOGA STONE CENTER 7731 LEE HIGHWAY ... (click for more)

Justice And Peace Center's Mercy Store Holds Grand Opening This Saturday

Chattanooga’s new Justice and Peace Center will open the doors to its fair trade Mercy Store with a grand opening celebration at  6 p.m. on Saturday , followed by a book signing by local author, Judith Pederson-Benn at  7 p.m. Mercy Junction is a ministry of the Presbytery of East Tennessee that operates the new Justice and Peace Center at St. Andrews on Union ... (click for more)

Woman Injured, Man Dead After Shooting Outside Collegedale Walmart

One man is dead and a woman injured after a shooting near the Collegedale Walmart on Sunday afternoon. Collegedale Police were dispatched at 2:22 p.m. to reports of a person shot at 5910 Reagan Lane. Police arrived on the scene at 2:23 p.m. and found a deceased male, and a female suffering gunshot wounds to her lower extremities. The female victim was transported to a ... (click for more)

Anonymous Facebook Posters Pose Possibility Of Signal Schools Separating From Hamilton County School System

"Should Signal Mountain Schools separate from the Hamilton County School System?"   That’s the question posted on a Facebook page titled, simply, Signal Mountain Independent School District.   The creators of the page do not identify themselves. “(W)e certainly don’t want our kids dragged into the issue or targeted for special treatment by any ... (click for more)

The Heart Of A Teacher Makes A Difference - And Response (2)

In less than four weeks, I expect to be one of 216 graduating seniors from East Hamilton School. One could say all possible variables help a student rise to the highest levels in school; but a student is more than his environment or genetic code. He is a mixture of his own propensity and dedication to academics, coupled with a systemic team of mentors who give their all as a student’s ... (click for more)

Roy Exum: The P.S. To A Sad Story

Back in the days when we were determined that the Chattanooga News-Free Press would have the best sports section in the country, I was traveling a whole lot. For example, back then I would be leaving today or tomorrow for Saturday’s Kentucky Derby, this after hardly recovering from a week spent at The Masters. And, as it happens with those who are constantly in search for tomorrow’s ... (click for more)