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.

 

 



Senator Bell Receives Tennessee District Attorneys' Guardian Of Public Safety Award

The state’s 31 district attorneys have recognized state Sen. Mike Bell with the Guardian of Public Safety Award.   The Guardian of Public Safety Award is given to a legislator who recognizes the necessity of protecting our citizens and takes action to advance public safety.   “Senator Bell is keenly aware of the public safety issues faced by Tennesseans on a daily ... (click for more)

Rep. Carter Receives Tennessee District Attorneys' Public Safety Advocate Award

The state’s 31 district attorneys have recognized state Rep. Mike Carter with the Public Safety Advocate Award. The Public Safety Advocate Award is given to a legislator who "recognizes the necessity of protecting our citizens and takes action to advance public safety." “Representative Carter is keenly aware of the public safety issues faced by Tennesseans on a daily basis. ... (click for more)

Strong Winds Wreak Havoc In Chattanooga; Thousands Lose Power

A storm with wind gusts up to 70 mph did considerable damage in downtown Chattanooga around 2 p.m. on Saturday. Fencing along Miller Park was twisted onto a nearby lane of traffic on Market Street. A sizable tree was split, causing it to fall across Cherry Street between Third and Fourth streets. A number of traffic lights were knocked out of service. Several thousand ... (click for more)

2 Shot In Separate Incidents Early Saturday Morning; 1 Victim Is A Juvenile Girl

Two people were shot early Saturday morning in separate incidents. The first incident was at  3:30 a.m. when the Chattanooga Police Department responded to a person shot on the 1000 block of North Willow Street.  Upon arrival, officers made contact with the victim who was suffering from a gunshot wound.    HCEMS transported the victim to a local hospital ... (click for more)

Protecting Family Homes On Signal Mountain

The Signal Mountain Town Council will vote at their upcoming July 9 meeting on whether to approve a controversial rezoning application regarding property located at the northwestern corner of Albert Road and Taft Highway.  Prior to the rezoning request, Albert Road was the redline on Taft Highway past which commercial development within the town did not extend. This rezoning ... (click for more)

Roy Exum: Claude And "Mr. John"

There are some who believe this last week has been a devastating one for our community, losing two of our most beloved “builders” within three days of one another. Claude Ramsey, who spent over 40 years in public service and because of the type man he was never lost a political race, died on Monday after a hard fight with illness at the end. On Thursday we lost “Mr. John” Franklin, ... (click for more)