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The COVID pandemic is proving to have negative short and long-term impacts on the global economy and the dynamic has changed the landscape of the investing environment.
From Warren Buffet calling bitcoin a scam to Senator Marco Rubio saying black market cannabis is laced with fentanyl, we believe the market is being fed incorrect information from people who were previously considered to be some of the smartest minds in the world.
We recently gained insight on the Florida Republican Senator’s view on legal cannabis and were shocked by his statement. During an interview with a Pensacola television station, Senator Rubio said:
“When you decriminalize something, the message that you’re basically sending people is it must not be that bad,” Rubio said. “Now, suddenly, you’re an 18- or 17-year-old, [and you] say, ‘Well, I know marijuana, you tell me not to smoke it, but you know what? It can’t be that bad, because the federal government made it legal.’ And so all of a sudden now, you’re going to have a problem in this country, because that becomes a gateway. We know that marijuana use is often the first thing that people use before they move on to something else. We’ve also seen, by the way, marijuana being purchased off the streets that’s laced with fentanyl and other drugs, and it’s killing people.”
We classify Senator Rubio’s statement as fake news and believe he is misleading his constituents. A few years ago, the American Journal of Drug and Alcohol Abuse published the results of a study that showed that alcohol is the real gateway drug. The subjects of the study were high school seniors who were surveyed between 2000 and 2011 and we found the results to be compelling.
According to the 2012 National Survey on Drug Use and Health, 88% of drug users started with alcohol. When you analyze the amount of people who are killed by alcohol, the number is exponentially higher than any other substance. We believe Senator Rubio should be more focused on the opioid epidemic in the US and less focused on a thriving industry which has tremendous growth potential.
Marco Rubio is Fake News
Although studies published in the American Journal of Public Health and in the Journal of Adolescent Health contradict the Senator’s views, we believe he is the perfect example of everything that is wrong with the justice system.
While we find these types of comments to be incendiary and erroneous, Senator Marco Rubio is not the political figure he once was. Following a failed run at President of the United States, the Senator’s words have carried less weight and we expect his opinion to continue to be discounted until he starts making statements and claims that are based on data, not his emotions.
So far this year, the US cannabis industry has been recording strong growth in several states that recently legalized recreational cannabis. These states are generating an increasing amount of tax revenue from the sale of cannabis and we are bullish on the long-term potential that is associated with the market.
We believe that Senator Marco Rubio’s comments on black market cannabis containing cannabis actually provided unintentional support for the legalization of cannabis. If there was a legal market in the US, then fentanyl laced cannabis would be less of a concern and will monitor how the rhetoric about the industry continues to change.
If you are interested in learning more about the US cannabis industry, please send an email to support@technical420.com with the subject “US Cannabis Industry” to be added to our distribution list.
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