The cannabis industry is about much more than profits…
On this Independence Day, I want to talk about cannabis, money, and freedom.
I recently shared in various publications that I think the cannabis bear market is over, and that stock prices will start to reflect what the stocks should be trading for.
And that’s all great.
But I want to write today about the good cannabis is doing for the United States, and about how a lot of the aspects of the cannabis business reflect America’s best traits.
To me, the promise of America is freedom, opportunity, fairness, and helping our fellow citizens. The cannabis industry is built on those ideals.
The very legalization of cannabis is an increase in the freedom of every American who benefits from it. The long-suppressed knowledge that cannabis is not addictive in the way that nicotine is and alcohol can be is finally being accepted at a greater level.
The legalization movement is inducing state after state to restore to Americans their freedom to run their own lives as they see fit.
And the federal government is starting to get behind the movement, too.
Even as we enjoy this renewed freedom, it’s worth asking ourselves why the government took so long to support the will of the people. As of October 2018, two in three Americans supported legalizing marijuana.
If you haven’t already, I would encourage you to check out my chat with Steve DeAngelo, the CEO of Harborside Inc. (CSE: HBOR, OTC: HSDEF). He’s one of the earliest advocates of cannabis legalization, and his passion is on full display in this interview.
Opportunity is another American trait that shines through the cannabis industry. Here at the Institute, we focus on the investment opportunities, since that’s why we exist.
But there are other opportunities, too. Opportunities for farmers to have an alternative to the commoditized monocrops they’ve been growing for huge companies for so many years. Hemp offers them an opportunity to grow more specialized crops at higher prices.
There are opportunities for people with a lack of work experience to get a job in the clean, safe environment of a cannabis processing facility. In fact, people with all skillsets are getting chances to work in the cannabis industry – biologists, engineers, lawyers, marketers, construction workers, drivers, and security officers, just to name a few.
An economist recently estimated that the cannabis industry has already created 211,000 full-time jobs in the United States, and more are being added as we speak. Collectively, cannabis jobs are being created faster than in any other industry in the U.S.
In Salinas, California, greenhouse owners are finding opportunities to replace growing flowers with growing cannabis.
Part of opportunity also means increasing fairness. Instead of being allowed to be productive members of society, thousands of people are in jail because, at one point, they sold or even just possessed a small amount of cannabis.
It’s impossible to ignore that a disproportionate amount of that injustice was inflicted on some of America’s most marginalized communities.
Now that the benefits of cannabis are becoming so apparent, pressure is building to reverse those injustices, returning America’s promise to those in jail because of marijuana convictions.
Fortunately, states and municipalities across the country are expunging records, shortening sentences, and returning people who made what is now seen as a small technical mistake on par with a speeding ticket to their rightful place in the American economy.
These individuals are now generating tax dollars rather than consuming the tax dollars needed to keep them locked away. Illinois is even helping the victims of the war on marijuana get into the cannabis business for themselves!
I look forward to the day when I can recommend a company run by a CEO who was one of those victims.
Helping Each Other
Helping our fellow citizens is not specifically enshrined in our founding documents, but it was important to the enlightenment-era religious founders of our country.
And to be clear, cannabis is helping people.
It is relieving pain and nausea among cancer patients, it is helping our veterans and others treat PTSD, and it is helping ordinary people cope with the stress of modern life.
Speaking of helping veterans, I was honored to talk with Robert Kowalski, the founder of Veterans Ending The Stigma. He was deployed to Iraq in 2007, and he was diagnosed with PTSD when he was discharged from service. He also suffers from a deteriorating meniscus, a twisted kneecap, and herniated and bulged discs.
Finding relief from medical cannabis, Robert wants to spread the word of the powers of cannabis-based medicine, and he is determined to end social stigmas associated with veterans using marijuana.
You can access our interview below. Thank you, Robert, for your service.
Recreational cannabis is a luxury good like fine wine, and it should remain so.
But cannabis is both a lifestyle choice and an important medicine. Laws prohibiting medical patients from growing cannabis at home should be repealed, and it should be easier for companies not to be taxed on cannabis offered for free or at a discount to those who don’t have the financial ability to pay full price for medical cannabis products.
Celebrate America’s Potential
I hope you can be with your with friends and family and eat some great food, and hopefully you have a good spot to watch fireworks, which John Adams famously prescribed for celebrating July 4 in full.
It ought to be solemnized with Pomp and Parade, with Shews, Games, Sports, Guns, Bells, Bonfires and Illuminations from one End of this Continent to the other from this Time forward forever more. – John Adams, July 3, 1776
As you enjoy today and look forward to a profitable summer, take a little time to reflect on how your investments are not just helping America.
Your investments are also reflecting the very best of the American experiment.
Executive Director, National Institute for Cannabis Investors
2 responses to “Cannabis Represents the Best of the American Experiment”
July 04 2019