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.

 

 


Drunk Driving Charge Reinstated By State Supreme Court After Finding That Police Acted Reasonably

The Tennessee Supreme Court has reinstated charges of driving under the influence and violating the open container law against Williamson County resident Mechelle Montgomery in an opinion that restores evidence gained during a search. In February of 2012, two officers with the Williamson County Sheriff’s Office were dispatched to the residence of a woman named Corey Brown, who ... (click for more)

State Supreme Court Rules That Employee Does Not Qualify As Whistleblower

The Tennessee Supreme Court has affirmed the dismissal of a whistleblower claim by Charles Haynes, a former employee of Formac Stables, Inc., in Obion County. Mr. Haynes worked as a groom at Formac Stables. In April of 2010, hesuffered an injury to the head when kicked by a Tennessee Walking Horse named “Bruce Pearl.” Mr. Haynes claimed that Formac’s owner refused to allow him ... (click for more)

Hard Freeze Predicted In The Area For Saturday Night

Temperatures are expected to drop Saturday night to 28 degrees or less. Here is the latest report from the National Weather Service:  HARD FREEZE WARNING REMAINS IN EFFECT FROM MIDNIGHT EDT /11 PM CDT/ TONIGHT TO 11 AM EDT /10 AM CDT/ SUNDAY... * EVENT... A HARD FREEZE EXPECTED WITH LOWS FROM THE TEENS NORTH TO THE UPPER 20S SOUTH LATE TONIGHT AND SUNDAY MORNING. ... (click for more)

Man Charged In Shooting On Sixth Avenue Had Been Shot Himself Last Week; Police Say Incident "Part Of Gang War"

A man charged with attempted first-degree murder on Sixth Avenue Court on Thursday afternoon was shot himself earlier this month. O'Shae Kadaris Smith, 20, of 2114 E. 12th St., is also charged with reckless endangerment, aggravated assault and possessing a firearm during the commission of a crime. He was one of two people shot on Rawlings Street on March 16. Kendre Allen, ... (click for more)

Finley Stadium Needs To Grow Up - And Response

RE:  Finley Stadium Financial Picture Rosy; Beer And Alcohol Sales Approved; AstroTurf Almost Ready and City, County Pitching In $250,000 Each For New Finley Stadium AstroTurf I read a story here five days ago about a rosy future for Finley stadium. It lead me to believe that the stadium was making money and even improvements with donations.  Then we get a short ... (click for more)

Roy Exum: The Sunday Funnies

They say March roars in like a lion and leaves like a lamb. So as you reach for your lambs-wool sweater on this last Sunday of the month, allow me to lighten up a bit with a new edition of my Sunday Funnies. I have a delightful crowd that keeps me supplied in jokes and these are some of the best that have come my way: A WOMAN'S PERFECT BREAKFAST -- She's sitting at the table ... (click for more)