This post The People Want Pot —The States Want Profits appeared first on Daily Reckoning.
You can’t have a conversation about the marijuana industry without mentioning the constant rain on the pot parade by the U.S. government.
This week it was Homeland Security Secretary John Kelly turning up his nose at the mention of Canada legalizing marijuana nationwide by next year.
Earlier this month, White House press secretary Sean Spicer made a one-off comment stating the Trump administration would pursue greater enforcement of recreational marijuana use.
Spicer even compared marijuana use to the opioid crisis in the U.S.
But what do comments like Spicer’s and Kelly’s mean if your money is on marijuana?
In short, nothing.
In a controversial and young market like the marijuana industry, off-the-cuff comments from government officials are bound to temporarily move pot stocks.
If you’re a pot investor, it’s a great lesson in growing a thick skin.
Nothing about the long-term profit opportunity in marijuana will likely change based on a few glib comments from The White House.
“Public opinion has clearly shifted in favor of decriminalizing recreational marijuana in the last few years, and it’s entirely possible that as this plays out, President Trump doesn’t see it as an issue worth risking favorability ratings over,” said our in-house marijuana expert, Ray Blanco.
Pot stocks will remain on an upward trajectory despite talking heads and political minds weighing in on the emerging trend.
Most regular investors won’t see it coming until it’s too late…
Below, trend expert Gerald Celente explains how if individual states want to see a new and profitable stream of revenue in the years ahead, it’s in their best interest to “go green”…
Regards,
Amanda Stiltner
for The Daily Reckoning
States Who Legalize Marijuana Will See a Huge Revenue Stream
By Gerald Celente
Forget the government hacks in Washington and their opinion on the marijuana industry for just a moment.
Polls in the last five years show public approval of legal marijuana is rapidly rising.
An October 2016 Gallup Poll found that 60% of respondents approved. Gallup reported:
When Gallup first asked this question in 1969, 12% of Americans supported the legalization of marijuana use. In the late 1970s, support rose to 28% but began to retreat in the 1980s during the era of the “Just Say No” to drugs campaign. Support stayed in the 25% range through 1995, but increased to 31% in 2000 and has continued climbing since then.
In 2013, support for legalization reached a peak for the first time after Washington and Colorado became the first states to legalize the recreational use of marijuana. Since then, a majority of Americans have continued to say they think the use of marijuana should be made legal.
The trend is clear: Much of the American public is over its reefer-madness thinking.
Yes, there are political setbacks to overcome. Still, I consider these curves in the road, not roadblocks.
Just consider Rhode Island and its southern New England neighbor Massachusetts.
Massachusetts residents gave the green light to recreational marijuana legalization in November. But local government has been dragging its feet when it …read more
Source:: Daily Reckoning feed
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