“Over one’s mind and over one’s body, the individual is sovereign.”
—John Stuart Mill
There’s at least one reason to be grateful this week: The War on Drugs took a hit in the cajones.
Let’s take a look at what happened…
California, Maine, Massachusetts and Nevada approved recreational use for anyone over 21…
Arkansas is now dipping its toe into medical marijuana. Florida, Montana and North Dakota, too, passed medical marijuana propositions.
Meanwhile, in my home state of Ohio, voters quietly did it the right way: decriminalization.
“While voters in four states were busy Tuesday legalizing the leaf for recreational purposes,” High Times magazine reports, “several communities throughout the state of Ohio quietly passed initiatives that will eliminate all of the penalties associated with the possession of marijuana.
“It is officially no longer a crime — not even a civil infraction — to be caught holding weed in the cities of Newark, Bellaire, Logan and Roseville.”
The end of prohibition is snowballing. Over 60 million Americans live in states where recreational weed is legal. Think about that.
“50 years ago,” Mark Thornton points out on Mises.org, “only 10% of Americans supported legalized marijuana use. Today more than 60% of Americans support marijuana law reform. And an overwhelmingly large majority support medical marijuana legalization. The science and economics of this movement is highly compelling. Experience will reinforce this as it spreads from state to state. We should anticipate the likelihood of the reform of marijuana laws at the national and international levels. There are already rumblings about reclassifying marijuana out of the category with heroin and cocaine.
“Even more importantly,” Thornton goes on, “the success of substituting more liberty for government prohibition on this issue could influence other issues as well. Politicians who push back and fight this movement do so at their own risk and of ruining their political legacies. Ideologically and demographically the support for marijuana law reform will only increase in the future.”
Not only is this good news for curbing the endlessly idiotic War on Drugs, it’ll also help some patients kick harmful and addictive prescription drugs — which, when it comes to America’s heroin epidemic, are the REAL gateway drugs.
In states which embraced medical marijuana years ago, the number of patients using prescription drugs for pain relief took a huge downswing.
“This is like the end of prohibition,” Shark Tank’s Kevin O’Leary told Entrepreneur magazine last month. “It’s going to be a remarkable opportunity. The cashflow in Colorado is three times what they thought it was going to be. They did the right thing by legalizing it and it’s now a huge cash crop.
“California will switch soon. Once that happens, I think the floodgates will open and I will be one of the first investors when it gets a federal mandate.”
Well, it’s happened. California switched. The floodgates are beginning to open. Come Jan. 1, when these new laws go into effect, the REAL “Green Rush” will make Denver’s weed revenue look like a runt seal in a sea of orcas.
Time to capitalize. The trick now is knowing how to pick them.
You shouldn’t look for just any pot stocks. You should look into a certain “class” of pot stocks which many investors have mistakenly overlooked.
But not to worry. Help has arrived.
Managing editor, Laissez Faire Today
Have something to say? Say it! Chris@lfb.org.
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