Isaac Newton said he lost money on the South Sea Bubble financial collapse because, although he could track the movement of stars, he could not calculate the madness of men.
In Canada, the legalization of cannabis in October 2018, unleashed a mania that has seen nearly 1,000 companies receive federal production licences and retailers open nearly 3,500 stores selling cannabis products across the country. It is a short street indeed that doesn’t have a pot shop on it.
The Cannabis Act was a cornerstone piece of legislation for the Trudeau government — a welcome end to 94 years of failed prohibition and an attempt to make Canada safer by closing down the black market in unregulated pot.
It hasn’t quite worked out that way and now there are dire warnings that the onerous federal regulatory and tax regime is in danger of killing the nascent licensed production market.
Hellbound and Down 