Two components of marijuana have different effects on symptoms of psychosis. Delta-9 tetrahydocannabinol (THC) causes hallucinations and, in high enough doses, can cause temporary psychotic experiences, even in healthy people. Another chemical, cannabidiol (CBD), has anti-psychotic effects. Scientists hope to replicate the antipsychotic effects of CBD without triggering the risks of THC. – Ilene
Since the days of Reefer Madness, scientists have sought to understand the complex connection between marijuana and psychosis. Cannabis can cause short-term psychotic experiences, such as hallucinations and paranoia, even in healthy people, but researchers have also long noted a link between marijuana use and the chronic psychotic disorder, schizophrenia.
Repeatedly, studies have found that people with schizophrenia are about twice as likely to smoke pot as those who are unaffected. Conversely, data suggest that those who smoke cannabis are twice as likely to develop schizophrenia as nonsmokers. One widely publicized 2007 review of the research even concluded that trying marijuana just once was associated with a 40% increase in risk of schizophrenia and other psychotic disorders.
But here’s the conundrum: while marijuana went from being a secret shared by a small community of hepcats and beatniks in the 1940s and ’50s to a rite of passage for some 70% of youth by the turn of the century, rates of schizophrenia in the U.S. have remained flat, or possibly declined. For as long as it has been tracked, schizophrenia has been found to affect about 1% of the population.
One explanation may be that the two factors are coincidental, not causal: perhaps people who have a genetic susceptibility to schizophrenia also happen to especially enjoy marijuana. Still, some studies suggest that smoking pot can actually trigger the disease earlier in individuals who are predisposed, and yet researchers still aren’t seeing increases in the overall schizophrenia rate or decreases in the average age of onset.
In recent months, new research has explored some of these issues. One study led by Dr. Serge Sevy, an associate professor of psychiatry at the Albert Einstein College of Medicine in New York City, looked at 100 patients between the ages of 16 and 40 with schizophrenia, half of whom smoked marijuana. Sevy and colleagues found that among the marijuana users, 75% had…
Will the Bear Market End the "War on Drugs"?
Marijuana legalization has come a long way (in a short time), baby
By Robert Folsom, courtesy of Elliott Wave International
In 1996 California voters approved Proposition 215, which extended legal protection to doctors who recommend and patients who use marijuana for medical reasons. This inspired the "medical marijuana" movement, though it made only sporadic progress in the decade that followed. Beyond a few mostly Western states, the movement found meager legislative support.
Until around 2007, that is.
In 2007 and 2008, legislatures in 27 states considered bills related to marijuana — each one sought to relax or eliminate the current penalties for use and/or possession in those states. The trend continued into 2009 and 2010. This past March saw the most far-reaching legislative proposal yet, again in California: the state legislature will vote on a bill to allow adults over 21 to personally possess and cultivate marijuana. It would also implement a regulatory regime that taxes pot sales by licensed vendors.
The trend itself may not be news to you, even if you don’t know all the particulars. This past January, an ABC News/Washington Post survey found that 81% of Americans support the legalization of medical marijuana (up from 69% in 1997). The same survey found 46% support "legalizing small amounts of marijuana for personal use" (up from 22% in 1997).
Still, you may not have gotten the memo about this past Tuesday (April 20) and the event known as 4/20, aka "Pot Day." Participants made a public show indeed of how much this day means to them: behold the crowd gathered for the occasion on the campus of the University of Colorado.
Yes, that cloud is exactly what you think it is.
This apparent willingness toward tolerance and use also extends to controlled substances which create clouds only a user might see. Earlier this month The New York Times reported the experience of a retired clinical psychologist who was deeply depressed while going through treatments for kidney cancer:
"Nothing had any lasting effect until, at the age of 65, he had his first psychedelic experience. He left his home in Vancouver, Wash., to take part in an experiment at Johns Hopkins medical school
…Yet even politicians inclined to support a treatment-oriented approach to diminishing the American appetite for illegal drugs have opted to emphasize enforcement in order to position themselves as "tough" on crime.
For just this reason, President Clinton replaced his first, reform-minded drug czar, Lee Brown, with retired Gen. Barry McCaffrey, who squandered billions on a scandal-ridden media campaign (planting secret anti-drug messages in prime-time TV dramas) and combating the medical marijuana movement, which is supported by a majority of Americans. Worse yet, overseas enforcement campaigns lead to horrific blowback. Grim points out that aggressive attacks on growers and suppliers cause centralization of the drug trade (only big organizations can afford the losses) and this in turn leads to corruption, as cartel leaders parlay their fortunes into political influence. Not only are we pissing away our own resources on ineffectual enforcement efforts, we have "brought the Mexican government to the brink of collapse, making the prospect of a failed state on America’s southern border a very real possibility."
For Grim, most of these mistakes have roots in an elementary error, the inability to accept that "altering one’s consciousness is a fundamental human desire." The craving to be more relaxed or more alert, more outgoing or more reflective, happier or deeper or even just sillier and less bored — in one form other another, this drive has always been and always will be with us, though many of us refuse to admit it. As a result, our political response to drug problems tends to be blinkered. "In reality, there’s no such thing as drug policy," Grim writes. "As currently understood and implemented, drug policy attempts to isolate a phenomenon that can’t be taken in isolation. Economic policy is drug policy. Healthcare policy is drug policy. Foreign policy, too, is drug policy. When approached in isolation, drug policy almost always backfires, because it doesn’t take into account the powerful economic, social and cultural forces that also determine how and why Americans get high."
Bankrupt states have finally found a a way out of their budget deficits: Taxes on legalized pot.
In certain western states, at least, the public supports the move.
WSJ: [A] national marijuana-legalization movement…has lately been emboldened by several factors, including laws allowing marijuana for medical purposes.
The recession may be another reason. With many states suffering big budget deficits, for instance, legalization advocates say the states could benefit from new taxes on the sale of marijuana. In addition, the Obama administration appears to have taken a more-mellow attitude on medical marijuana as societal views about the drug evolve. In a poll last week of 500 adults in Washington state by SurveyUSA, 56% of respondents said legalizing marijuana is a good idea.
"We’re beyond a tipping point culturally," said Roger Goodman, a Democrat representing Kirkland, Wash., and other Seattle suburbs in the Washington legislature who co-authored the legalization bill, known as HB 2401. "Now we’re at a point where we’re figuring out the safest way to end prohibition."
Here in the United States, four decades of drug war have had three consequences:
1. We have vastly increased the proportion of our population in prisons. The United States now incarcerates people at a rate nearly five times the world average. In part, that’s because the number of people in prison for drug offenses rose roughly from 41,000 in 1980 to 500,000 today. Until the war on drugs, our incarceration rate was roughly the same as that of other countries.
2. We have empowered criminals at home and terrorists abroad. One reason many prominent economists have favored easing drug laws is that interdiction raises prices, which increases profit margins for everyone, from the Latin drug cartels to the Taliban. Former presidents of Mexico, Brazil and Colombia this year jointly implored the United States to adopt a new approach to narcotics, based on the public health campaign against tobacco.
3. We have squandered resources. Jeffrey Miron, a Harvard economist, found that federal, state and local governments spend $44.1 billion annually enforcing drug prohibitions. We spend seven times as much on drug interdiction, policing and imprisonment as on treatment.
It’s now broadly acknowledged that the drug war approach has failed.
MP: Note the "War on Drugs" is actually a war against generally peaceful American citizens who decide to buy, sell or ingest drugs that are somewhat arbitrarily considered to be illegal by government officials, e.g. cannabis sativa, an annual, dioecious flowering herb that grows naturally all over the world.
In this weekly update, I give my view of the current market environment, offer a technical analysis of the S&P 500 chart, review our weekly fundamentals-based SectorCast rankings of the ten U.S. business sectors, and then offer up some actionable trading ideas, including a sector rotation strategy using ETFs and an enhanced version using top-ranked stocks from the top-ranked sectors.
Corporate earnings reports have been mixed at best, interspersed with the occasional spectacular report -- primarily from mega-caps like Google (GOOGL), Facebook (FB), or Amazon (AMZN). Some of the bul...
“I am sure the euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created.”
– Romano Prodi, EU Commission president, December 2001
Prodi and the other leaders who forged the euro knew what they were doing. They knew a crisis would develop, as Milton Friedman and many others had predicted. It is not conceivable that these very astute men didn’t realize that creating a monetary union without a fiscal union would bring about an existential crisis. They accepted that eventuality as the price of European unity. But now the payment is coming due, and it is far large...
1) Below is a spot-on cover story in this weekend’s Barron’s about how attractive Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) is today:
“In effect, the world is Berkshire’s oyster,” Buffett wrote, noting that it “is perfectly positioned to allocate capital rationally and at minimal cost.” Jain’s catastrophe-reinsurance operation, for instance, is doing less business now because alternative sources of coverage, n...
Sellers in the S&P made it five days of downside in a row. On this last day it closed near the day's lows, but also on its 200-day MA. If there was reason for a bounce, then tomorrow could be the day. Technicals are all net negative.
The Dow took the selling harder. It undercut the July swing low having earlier lost its 200-day MA. Next up is the February swing low.
Small Caps finished at its 200-day MA, after it lost trendline support on Friday...
A reader recently asked the question of why we so often don't trade our plans after we've gone to the trouble of planning our trades. The usual answer to this question is that emotion gets in the way, which naturally leads to strategies for yet more planning, "discipline", and the dampening of emotion. As an interesting article on motor sport makes clear, however, it may well be that we lose our plans when we lose our concentration. Instead of working to control emotions, it makes sense to cultivate ex...
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Baxter Int. (BAX) is splitting off its BioSciences division into a new company called Baxalta. Shares of Baxalta will be given as a tax-free dividend, in the ratio of one to one, to BAX holders on record on June 17, 2015. That means, if you want to receive the Baxalta dividend, you need to buy the stock this week (on or before June 12).
Back in December, I wrote a post on my blog where I compared the performances of various ETFs related to the oil industry. I was looking for the best possible proxy to match the moves of oil prices if you didn't want to play with futures. At the time, I concluded that for medium term trades, USO and the leveraged ETFs UCO and SCO were the most promising. Longer term, broader ETFs like OIH and XLE might make better investment if oil prices do recover to more profitable prices since ETF linked to futures like USO, UCO and SCO do suffer from decay. It also seemed that DIG and DUG could be promising if OIH could recover as it should with the price of oil, but that they don't make a good proxy for the price of oil itself.
Kim Parlee interviews Phil on Money Talk. Be sure to watch the replays if you missed the show live on Wednesday night (it was recorded on Monday). As usual, Phil provides an excellent program packed with macro analysis, important lessons and trading ideas. ~ Ilene
The replay is now available on BNN's website. For the three part series, click on the links below.
Part 1 is here (discussing the macro outlook for the markets)
Part 2 is here. (discussing our main trading strategies)
Part 3 is here. (reviewing our pick of th...
This is a non-trading topic, but I wanted to post it during trading hours so as many eyes can see it as possible. Feel free to contact me directly at firstname.lastname@example.org with any questions.
Last fall there was some discussion on the PSW board regarding setting up a YouCaring donation page for a PSW member, Shadowfax. Since then, we have been looking into ways to help get him additional medical services and to pay down his medical debts. After following those leads, we are ready to move ahead with the YouCaring site. (Link is posted below.) Any help you can give will be greatly appreciated; not only to help aid in his medical bill debt, but to also show what a great community this group is.
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