A bear market in stocks could be good news for legal marijuana

A bear market in stocks could be good news for legal marijuana

The wave of global marijuana legalization in 2018 could have something to do with last year's highly volatile stock market, says Chuck Thompson, a socionomics analyst.

When people derive a negative mood from market sell-offs, they begin to view recreational drugs as less dangerous, even innocuous, and vice versa, Thompson said.

Many moments in history show a correlation between the fate of the US's cannabis industry and the performance of Wall Street.

If the stock market sees a huge downturn in the next year or two, a proponent view on marijuana will reign supreme, he said.

The world's biggest stock bear has warned that the US stock market could plummet more than 50% from current levels, wiping out trillions of dollars of value. And while a bear market of that magnitude would be devastating for many, it could be favorable for marijuana supporters, according to a socionomics analyst.
Bear markets usually create a widespread negative social mood in the country, which makes people more tolerant of marijuana, according to Chuck Thompson, a researcher with the Socionomics Institute, which studies how social mood influences social attitudes and actions.
"During bear markets, people have a lot of problems going on," Thompson told Business Insider. "Their attitude is 'Hey, I'm not gonna worry about going after these marijuana users. I got enough problems of my own.'"
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