The coronavirus has clearly had a profound impact on the American economy by forcing some businesses to shut down or limit transactions to prevent the spread of the virus.
However, with some proactive measures, the American stock market, although way off of its 2020 highs, has recovered some of its value from a crash that resulted from an investor sell-off because of the coronavirus spread. This is not lost on U.S. Rep. Robert Aderholt (R-Haleyville), who points to the slight recovery of stocks as a reason for optimism looking beyond the pandemic.
Monday on Huntsville radio WVNN’s “The Jeff Poor Show,” Aderholt had a similar view of optimism for Alabama as well. He noted the slowdown of automobile manufacturing in the Yellowhammer State that has come as a result of coronavirus. But said in some ways, the state was still holding its own, shown by the trucking industry in his Fourth Congressional District.
“Of course, one thing that’s been shut down in Alabama that’s really, I think, we’ve not seen in a long time is these automotive makers,” he said. “Automobile manufacturers around the state have been holding up their lines of production. That has made a big impact on Alabama. So, I think once they go back into work, then we will see that. Last week, I was talking to some of my trucking companies — had reached out to them to just see how they’re doing. And surprisingly, they’re doing very well considering the circumstances.”
“Of course, obviously people are still buying groceries, still buying a lot of products and going to stores where they can buy them,” Aderholt continued. “So obviously, those products — most of them, are brought in by trucks. Some of the trucking industry does have a certain amount they deal with bringing automobile parts into facilities. And they did say that of course had been decreased very extensively because of the shutdown. But, they were getting work from other places, so I took that as a good sign as well.”
Aderholt predicted Alabama would be back at a normal pace once it is able to shake off the impact of coronavirus.
“Considering the situation we’re in where so many Alabamians are sitting at home — I think that we’re holding our own quite well,” Aderholt said. “And I’m encouraged that once this is blown over, so to speak, then I think we’ll really hit the ground running, and I think the economy will get back to its normal pace.”
@Jeff_Poor is a graduate of Auburn University, the editor of Breitbart TV, a columnist for Mobile’s Lagniappe Weekly and host of Huntsville’s “The Jeff Poor Show” from 2-5 p.m. on WVNN.
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