The weed industry.
Posted on 08/27/2023 6:04:50 PM PDT by dennisw
Across the US, the legal weed industry is under pressure from a 'ganja glut' Prices have plunged even as dispensaries complain of high taxes and red tape Industry group warns pot business is 'on the verge of collapse' without reforms
Across the US, the legalized marijuana industry is buckling under the strain of plunging prices, patchwork state regulation, and burdensome taxes, analysts and industry groups say.
'All of these issues are chipping away at the health of the industry to the point where I would describe the industry as in crisis in the United States,' Beau Whitney, senior economist for the National Cannabis Industry Association, told DailyMail.com this week. 'This is unsustainable from an economic perspective.'
Currently, the recreational use of cannabis is legal in 23 states, and last year state-regulated medical and recreational pot sales topped $26 billion nationwide, according to Vangst.
But even while sales soar, dispensaries say eking out a profit is growing harder, as a glut of weed production pushes prices lower -- a boon for blissed-out pot consumers, but a bane for growers and retailers.
In California, dispensary chain MedMen, once dubbed the 'Apple store of weed,' teeters on the brink of financial ruin, while in New Jersey a trade group warns the industry is stagnating in a 'doom loop' due to licensing delays.
'Sadly, the legal cannabis markets demanded by countless Americans are on the verge of collapse if common sense, practical reforms are not enacted urgently,' the National Cannabis Industry Association (NCIA) warned in a report this month.
(Excerpt) Read more at dailymail.co.uk ...
Far out, man.
They all need to study Stallone’s mafia-like business model for dispensaries.
https://www.youtube.com/watch?v=oqd7TfZSlwg
Tulsa King is far better than I anticipated but it is written by Taylor Sheridan of Yellowstone.
The Chicken Ranch in Nevada was seized by the IRS for non payment of taxes. They lost money selling nookie.
I think it is more about making the population more easy to control than anything else.
In all my years, I have not met a single super motivated go-getter, hard worker; that was also a pot smoker. Yeah, I know there are exceptions.
I have a nephew who is a life-long pot smoker.
I admit he is not a hard worker nor a go-getter.
That said he has become a very well-to-do young man both by being a genius in the IT industry and investing in residential real estate in the Boston area.
When you are smart as he is you don’t need to work hard to be successful.
With booze people will pay the corporations their profit and the gov. their taxes because it is too hard to make. With pot the black market or the grow your own types can easily undercut the “industry”.
There is a pot shop on every corner around here. They have run out of corners and so are building more. I hope they bludgeon each other to death.
The weed industry.
An exception to the rule for sure.
“A drugged nation isn’t a nation that should prosper. It’s a failed nation.”
Indeed. I live in San Francisco (part-time), and of course there’s all this talk about the “doom loop” and S.F. becoming a “failed city.” But few if any mention the role that weed, particularly the “legalized weed” of the last decade, has played in the town’s decline. No city in a America or perhaps the world (that I know of) has more people toking it up on the street or in their residences. If I walked for 2 hours randomly around town, I’d probably smell the stench of burning cannabis 50 different places.
Here in MO, "the industry" came in and wrote the regulations and made sure it was done via constitutional amendment.
The seniors I know who smoke weed are growing their own.
“A drugged nation isn’t a nation that should prosper.”
Exactly ! The smell of dope is the stench of failure.”
Heroine has been smuggled to U.S. Navy ships.
Marijuana tainted with fentanyl isn’t rare, but satisfies many tokers’ needs.
Indeed stoner states have a high murder and high crime rates per the FBI all mass murders were stoners what could go wrong.
don’t know if it’s true, but a young guy I was talking to said even weed and consumables were tainted by fentanyl sometimes.
It appears that has been completely debunked by experts who have disproven this by ignoring the evidence. It only looks like it, but it is really not.
And why do cops put on gloves and suits when around it?
Remember the drug cartels were supposed to go out of business ess once pot was legal. They are richer than ever.
Government doesn’t seem to get that there’s a limit to how much you can tax, and that limit is the point where customers decide to evade your taxes.
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