My grandmother sent me an email this week…
The fact that she emailed me wasn’t strange — we email each other all the time. She’s a sophisticated lady, who is always turning me onto hip food trends, Netflix documentaries, and even makes an occasional appearance on Facebook. But it was the topic of the email that really resonated with me, as it was one that we had never discussed before.
You see, she had read one of my articles on the benefits of medical marijuana, and the huge investment possibilities of such a new, exciting industry. Now, like any doting grandma, she told me how proud she was and how much she enjoyed my writing. But what she said next was very interesting… and it’s the reason I’m even writing about it in the first place.
“Your grandfather would be so glad you are writing about this topic. He always said marijuana should be legal.”
I was a bit taken aback. Grandpa was a marijuana smoker? Well, not quite…
My late grandfather was always a wise, responsible, and traditional man: he served his country in World War Two, raised three sons, and dutifully worked for decades in the Social Security Administration (coincidentally enough, he occasionally worked in the old Baltimore Social Security building our Outsider Club offices reside in now).
But despite being an advocate for marijuana legalization, it turns out he never touched the stuff…
He just thought that it was silly to legally allow something like alcohol — which kills over 3 million people a year, destroys millions more lives through abuse and neglect, and has absolutely no medicinal value at all — while criminalizing something as harmless, and beneficial, as marijuana.
I couldn’t agree more.
Yet many investors are currently sitting out the legal marijuana boom due to moral reasons. Though I completely respect people’s personal views, here’s why they are completely wrong…
I’ve actually had members of my Crow’s Nest advisory cancel their subscriptions because of their opposition to marijuana. Again, while I would never judge anyone’s personal beliefs, I do think that this fear of “reefer madness” is scientifically and ethically problematic.
For one, marijuana is perhaps the least dangerous drug on the planet…
While alcohol is one of the biggest factors for untimely deaths in the world, a marijuana smoker would have to consume 20,000 to 40,000 times the amount of THC (marijuana’s psychoactive ingredient) in a joint to have any chance of overdosing. In fact, there has never been a confirmed case of “death by marijuana”.
You can see the stark differences in this chart:
Yet, marijuana is still labeled as a “schedule 1” drug, alongside the likes of heroin, LSD, and ecstasy.
So while I understand that many people have an innate hatred for drugs of all kinds, I feel that marijuana shouldn’t be lumped into that bunch. And I’m not alone…
Thankfully, the Drug Enforcement Administration (DEA) just announced plans to possibly remove it from that dubious classification in the next few months. I think its decision rests on one thing: public opinion.
In a recent Gallup poll, 58% of Americans believe that marijuana should be legalized. This is an opinion that has only grown stronger over time. In fact, only 12% of Americans thought marijuana should be legal in 1969. I am not one to argue with clear historical trends…
While many older folks may write off these trends by saying, “Well of course, all of the kids these days love that devil weed!” that simply isn’t the case…
35% of senior citizens today are in favor of legalization. That is a massive increase from the 4% of senior citizens in 1969. Among all age groups, the increase in support among seniors has been proportionately greater over the last decade than it was in any other period in time.
In fact, the amount of seniors actually using marijuana has more than doubled since 2002.
This phenomenon was explored hilariously in a New York Times piece, titled “Shuffleboard? Oh, Maybe Let’s Get High Instead.”
Here are some excerpts…
- For Cher Neufer, a 65-year-old retired teacher, socializing with friends (all in their 60s) means using marijuana. Once a week they get together to play Texas Hold ’Em poker and pass around a doobie. “It’s nice,” Ms. Neufer said. “It’s just a social thing. It’s like when people get together, and they crack open their beers.”
- Moms for Marijuana International, a pro-marijuana group that brings people together to socialize and learn about the positive aspects of the plant, has received so many queries from older people over the past year that it is creating chapters called Grannies for Grass in Illinois, Ohio and Missouri.
- Most (seniors) are empty nesters, no longer concerned with setting a good example for their children or having drugs within reach of minors. Many grandparents “are at a stage in their life where it doesn’t make a difference,” said Diane-Marie Williams, executive director of administration of Moms for Marijuana International and a grandmother herself. “They’ve raised their families, they’ve done their careers, and at this point I think they are saying, ‘O.K., I’m not jeopardizing my family.’
Now, I’m not saying that every grandma and grandpa should start sparking up joints and hitting the Rotary Club. To each their own…
But, marijuana use isn’t just about having fun.
It packs a serious therapeutic punch for anyone suffering through any number of diseases — especially those that strike when we get up there in years.
Marijuana-based treatments have shown promise in far-reaching medical conditions like:
- Cancer
- Neuropathy
- Multiple sclerosis
- Fibromyalgia
- Back pain
- Type 2 diabetes
- Schizophrenia
- Post-traumatic stress disorder (PTSD)
The Times article told the story of Vickie Hoffman, 46 years old and a grandmother of three. She is suffering from Crohn’s disease. She told them that before using marijuana, she didn’t even have the energy to socialize with friends.
“Me getting around is a little bit rough,” she said, but after using marijuana, she feels healthier. “I can do more things. We play croquet. We do things out in the yard, and if I don’t have it I can barely walk across the floor. It’s a big pick-me-up.”
Ms. Shuller, who has arthritis in almost every part of her body, said she loves how pot relieves her pain without leaving her with the negative side effects of painkillers or alcohol.
“I had never tried it before,” she said of her first time consuming the drug two years ago, “and it didn’t bother me at all. It felt good, and it’s certainly better than alcohol, which is draggy and sometimes leaves you sick.”
Personally, I’m betting that these trends will continue and people — young and old — will be turning to marijuana in droves for their own personal reasons.
The legal marijuana industry in the U.S. pulled in $5.4 billion last year. That’s billion with a ‘B’. Just think about that…
Of the 50 states, only four currently have legalized marijuana for recreational purposes and 23 have legalized it for medicinal purposes. As we speak, my grandmother’s home state of Pennsylvania is about to become the 24th.
Once the others fall into place, we could be looking at a $200+ billion industry. Whatever your opinions on marijuana may be, there is one thing that cannot be argued: there aren’t many chances to get in on the ground floor of an industry that size.
