Posted April 20, 2022
By Matt Insley
Today’s Unofficial Holiday (4/20)
A reader takes exception to us calling the current level of inflation “Reagan-era inflation.”
He contends: “It was during the Reagan years that we were able to recover from the inflation that resulted from the 1970s, remembering particularly Ford's WIN (Whip Inflation Now) buttons and the disastrous years of the Carter administration.
Image courtesy: Gerald Ford Museum
“I lived through those years so I am well aware of who caused it while some of your younger readers may mistakenly think you are putting the blame on Reagan. Just want to clarify the history for those who are too young to have lived through it.”
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Your Rundown for Wednesday, April 20, 2022...
Since today is the unofficial holiday among marijuana enthusiasts, we thought it appropriate to provide an update on the burgeoning legal-cannabis industry in the U.S.
From a revenue perspective, our elected officials at the state-and-local level and in D.C. might see only taxable dollars and cents associated with medical and recreational cannabis.
“But the beneficial impact exceeds just tax dollars,” says Marijuana Business Daily.
“The total U.S. economic impact from marijuana sales in 2022 is expected to reach $99 billion – up more than 20% from last year – and upwards of $155 billion in 2026.”
Certainly, these numbers are best estimates, especially considering how multi-tiered the marijuana industry is, encompassing everything from agriculture, transportation, manufacturing, retail and more.
But according to research from MJBiz Factbook: “The economic impact of the marijuana industry, [means] for every $10 consumers and patients spend at marijuana retail locations, an additional $18 will be injected into the economy, much of it at the local level.”
If accurate, particularly in this high-inflation environment, that’s a substantial win for the U.S. economy. (We'll take any good news we can get.)
We’ll continue to update you from time to time on the latest in the cannabis industry, reaching out especially to our pot-stock authority Ray Blanco for the best marijuana investments for your money. Stay tuned…
Market Rundown for Wednesday, Apr. 20, 2022
S&P 500 futures are up 0.40% to 4,475.
Oil is up 1.2% to $103.80 for a barrel of WTI.
Gold’s down $9.40 per ounce, pennies away below $1,950.
Bitcoin is up 1.35% to $42,015.
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We’ll be back Friday with more; until next time, take care!
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