Friday, August 04, 2017

Trump Doesn't Smoke Pot Or Drink Booze-- So What's He On?


Look, maybe Trumpanzee wasn't lying when he claimed he got calls from the head of the Boy Scouts-- telling him his embarrassing speech was the "greatest speech" ever and from Mexican President Enrique Peña Nieto telling him fewer people are crossing the border because of Trump policies. Sure both the Boy Scouts and Mexico denied those claims-- but that doesn't mean that Trump was necessarily lying or bullshitting. Many observers think he was-- is-- just plain delusional and senile. Even the Regime's chief misleader, Huckabee's contemptable daughter, now admits those calls never took place. There was a call with Peña Nieto, though-- but it was in January and the the Washington Post just got it's hards on the transcript of that and exposed other Trump lies. For expample, he told Mexico's president he won New Hampshire-- he didn't; Hillary did-- because it is a “drug-infested den." Republican Governor Chris Sununu was moved to immediately release an official statement contradicting Trump: "The President is wrong. It’s disappointing his mischaracterization of this epidemic ignores the great things this state has to offer... We are already seeing positive signs of our efforts as overdoses and deaths are declining in key parts of the state. In spite of this crisis, New Hampshire remains the best place to live, work and raise a family."

One way to view this is through the lens of Quinnipiac's new poll. Only 33% of Americans approve of the jon Trump is doing. Only 34% say he's not a liar, the same percentage who say he has good leadership skills. Most important though is that only 26% of Americans say they are proud of him--rather than embarrassed by him.

But there's an entirely different poll that was just released that has nothing-- at least nothing directly or nothing yet-- to do with Trump's incredibly shrinking approval numbers. A Harvard-Harris poll indicates that only 14% of Americans-- the Jefferson Beauregard Sessions III core-- believe marijuana should be illegal. 86% of Americans now think marijuana should be legalized either for medicinal purposes or for personal use and medicinal purposes. Does Trump's unsympathetic comments about New Hampshire being a "drug infested den" show he doesn't have the kind of empathy it takes to understand, let alone deal with, the opioid crisis that is devastating the counties that were most supportive of Trump's election?

And just when Trump's crackpot rogue Attorney General, who he's apparently afraid to fire, is preparing to crack down on states that have liberalized their marijuana laws in the way that their citizens have demanded. Sessions keeps trying to deceitfully link marijuana use to violent crime and wants to see tougher sentences for growers, sellers and users, even in the increasing number of states where it is legal.

Hoping to shake his well-earned reputation as a corporate whore, Cory Booker introduced a pot legalization bill last week (on Facebook). Adam Levin, CEO of High Times said that "Though I think it's a bit early to get hopes up, this new bill is the first of what I imagine will be many proposed legislations to help curb the unjust war on drugs, and the resulting disproportionate arrest rates for people of color. We all know this war has presented very real, troublesome consequences for American citizens for decades, and it's time for this abolition to end. Nonviolent drug offenders are losing their lives daily, and with medicinal and recreational legalization sweeping the country, these victims can't be overlooked."

I can imagine Sessions at the head of an army of DEA agents invading Nipton, California, which is being bought-- the whole town-- for $5 million by American Green Inc., a maker of cannabis products. 120 acres with a general store, a hotel, a school building and mineral baths being re-imagined as "a pot-friendly tourist destination." Tiny Nippon, a former mining town, is next to the Mojave National Preserve, just across the border from Nevada, in San Bernardino County.
American Green plans to include a new facility to manufacture water infused with CBD, the cannabis component that is typically associated with reducing pain and inflammation. The new Nipton will also have a production site for edible marijuana products, retail stores, and artist-in-residence programs.

The project reflects a shift toward making marijuana more appealing to a broader audience. This includes reaching beyond the stereotypical stoner aesthetic and making products with milder doses per serving size. American Green has also sought to expand sales by building a vending machine that uses biometric scanners to ensure customers are of age.

The industry needs this wider acceptance to fuel its growth. Cowen & Co., a provider of investment and banking services, is optimistic companies will succeed and forecasts the legal weed business growing to $50 billion by 2026 from $6 billion in 2016.

Even as companies seek to expand the market, they face a more existential threat-- looming government intervention. While President Barack Obama implemented policy stating it would not go after operators in states where the plant had been legalized, the Trump administration is not a fan. Attorney General Jeff Sessions has made clear that he sees no use for the plant, saying at one point “it’s not a healthy substance.”

American Green, which trades over the counter for a fraction of a penny, had lost about half its value this year through Wednesday. That followed a rally in 2016 as more states moved to legalize the drug. The shares’ value jumped by more than 40 percent on Thursday, but are still worth well below 1 cent.

Companies like American Green are opting to hope for the best. As long as policy remains unchanged, Shearin expects the company’s investment will be returned and the town will be profitable.

“The Gold Rush built this city,” Shearin said. “The Green Rush can keep it moving the way people envisioned it years ago.”

Labels: , , , , , , , ,


At 11:01 PM, Anonymous Anonymous said...

Here's a somewhat more cynical - or realistic - viewpoint of this from comments in Naked Capitalism:

August 3, 2017 at 2:43 pm

Booker’s proposed marijuana law, while a good thing, is probably being pushed to lay the groundwork for future big pharma acquisitions in this space.

This is what monopolies/cartels do, they don’t do risky investments in their ‘ideas’ when they’ve got so much money that they can just buy anything that might offer some kind of future pay out. Especially true with their ability to issue equity capital so cheaply (because of high stock market valuations).
Reply ↓

Jim Haygood
August 3, 2017 at 3:10 pm

Handwriting’s on the wall:

GW Pharmaceuticals’ latest product, Epidiolex, contains pharmaceutical cannabidiol designed to treat various types of pediatric epilepsy. The FDA recently completed Phase 3 clinical trials that showed promising results. Should Epidiolex get the thumbs-up from the FDA, it would force the DEA to downgrade marijuana from a Schedule 1 drug to a Schedule 3 or 4 so that it could be prescribed to patients in the U.S.

“It’s right at the edge of being approved, and if it does get approved, you’re going to see an absolute gold rush of pharma companies trying to enter the cannabinoid-based drug market,” Rob Hunt of Teewinot Life Sciences predicts. Biotech companies already are the recipients of more than half of the $400 million that investors poured into the pot industry in 2015, according to Viridian Capital Advisor, a cannabis advisory firm.

Then there’s this, from fentanyl peddler Insys — six of whose former executives are under indictment for racketeering, and which funded opposition to Arizona’s recreational cannabis initiative last year:

Insys Therapeutics, a Chandler, Ariz.-based pharmaceutical firm, said Thursday its FDA-approved liquid dronabinol drug Syndros could launch later this year after the synthetic THC oral solution received an initial go-ahead for Schedule II classification under the Controlled Substances Act, which would allow doctors to prescribe it.

Cute, huh? Cory Booger is gonna jump in front of this parade, claiming it was his idea.

Kim Kaufman


Post a Comment

<< Home