Mindset Sunday Reading 1/22/23

Interesting Reads for your Sunday

Cannabis Links:

The first cannabis bill was filed in Congress already.

Marijuana Moment @MarijuanaMoment

First Marijuana Bill Of The New Congress Is A GOP-Led Gun Rights Measure: The existing firearms prohibition for cannabis consumers has been widely criticized on a bipartisan basis.

marijuanamoment.netFirst Marijuana Bill Of The New Congress Is A GOP-Led Gun Rights MeasureRepublican House lawmakers have filed the first piece of marijuana reform legislation for the 118th Congress, proposing to allow medical cannabis patients to purchase and possess firearms. Rep. Alex Mooney (R-WV) introduced the bill, which appears to be the same as a measure originally filed in 2019…

The word default showed up multiple times in the update Innovative Properties (NYSE: IIPR) posted this week. The cannabis focused REIT is starting to get hit from tenants struggling with falling cannabis prices. It doesn’t help that IIPR has locked those tenants into annually, escalating, above-market leases.

This is an interesting discussion of how US cannabis companies can’t go through bankruptcy proceedings like normal companies. The post talks about Flower One Holdings’ restructuring.

Amazing to learn how just one new MariMed cannabis dispensary in a defunct car dealership in Southern Illinois has helped tax revenue: “we have added two additional firemen and two additional police officers. We also had the added expense of purchasing vehicles for the new officers.” To me this is one reason why state legalization continues full steam despite Federal reform remaining stuck in the mud.

Another example of the growing usage of cannabis. Products made with Delta 8, which is derived from hemp and is the cousin to Delta-9/THC and was basically legalized with the 2018 Farm Bill, generated $2 billion in revenue in the last two years.

Robberies are happening all the time in New York City’s wild west of unlicensed cannabis shops.

And how many illicit shops are operating in New York City? At least 1,200!

Ashley $Southall @AshleyAtTimes

How many unlicensed cannabis shops are there in New York City? Sheriff Anthony Miranda says the authorities have identified 1,200 locations for inspection and investigation. That's the first hard number I've heard from anyone in enforcement.

I thought this was a great tweet describing the impossible situation New York finds itself in:

Rob Sechrist @m5_rob

@TheDalesReport It's going to be difficult to enforce shutting down the illegal operations when you're saying you're issuing legal equity licences to former people that were incarcerated for selling cannabis illegally.

Great article about the normalization of “wake and bake” cannabis consumers.

Aaron Edelheit @aaronvalue

The quotes and happy faces in this article are literally the faces of cannabis normalization: nypost.com/2023/01/17/leg… The title is alarmist, but read the quotes from the "wake and bakers." See the happy faces and you realize that people are happier and more productive.

nypost.comLegal weed is wreaking havoc on return to office: ‘all of NY is wake and baking’The ubiquitous reek of pot smoke is making NYC’s streets stink to high heaven.

CEQA craziness:

I’ve written and discussed about how how Glass House Farms (OTC: GLASF) greenhouse is a unicorn because of the rules and regulations in California. CEQA, the California Environmental Quality Act, is one big example. And now due to changes in rules, every new cannabis farm has to be compliant with CEQA on day one. The thread below shows how people are using CEQA to shoot down student housing claiming students create “noise pollution.”

Chris Elmendorf @CSElmendorf

🧵 Some thoughts on today's oral argument in Berkeley "students are pollution" CEQA case. tl,dr: The justices think "student noise" is a CEQA impact but they're struggling w/ civil rights implications. "Gentrification impacts" got less attention. 1/23 courts.ca.gov/11245.htm

Chris Elmendorf @CSElmendorf

A Christmas Eve surprise from Court of Appeal in UC Berkeley "students are pollution" CEQA case. tl,dr: UC Berkeley & state housing + antidiscrimination policy got a lump of coal in their stockings. CEQA is about to get much, much worse unless the Leg or the AG steps in. 1/25

Miscellaneous Investing Links:

China EV subsidies are headed to zero:

China's EV subsidies are going to zero

How exactly does a family invest in Enron, Madoff and FTX?

Jim Bianco biancoresearch.eth @biancoresearch

The Trifecta! Lost big money in Enron, Madoff, and now FTX. They are professionals; please do not try this at home.

ft.comSubscribe to read | Financial TimesNews, analysis and comment from the Financial Times, the worldʼs leading global business publication

Miscellaneous Links:

While cannabis remains Federally illegal, alcohol continues causing incredible amounts of suffering and death, such as 140,000 people dying every year from alcohol. This is a sobering article.

Wonderful article dispelling the disinformation around Covid vaccines:

COVID-19 vaccines and sudden deaths: Separating fact from fiction

Comedy:

Washington State Dept. of Natural Resources @waDNR

We're hiring influencers and by that I mean firefighters who influence the forest to no longer be on fire.