Proposition 19 rejected, this was obvious.

Discussion in 'Wall St. News' started by S2007S, Nov 3, 2010.

  1. S2007S


    I was reading up on articles related to this for weeks and noticed that these groups of people who wanted it passed were all in a age of 18-35. I have never seen so many young people trying to get votes for a bill to be passed. Seems there are alot of young people in California smoking weed for "medical" reasons.

    California Voters Reject Legalization of Marijuana
    The Associated Press | November 03, 2010 | 01:07 AM EDT
    California voters said no thanks to a ballot initiative that would have made it the first state to legalize marijuana for recreational use and sales.

    Proposition 19, rejected Tuesday, would have made it legal for adults 21 and over to possess up to an ounce of marijuana, smoke the drug in nonpublic places and grow it in private plots.

    The proposed law also would have authorized local governments to permit commercial pot cultivation and sales.

    Proponents pitched the measure as a source of tax revenue and a sensible experiment for reducing marijuana-related arrests and crime.
  2. Who knows, this might have been a ploy to get the 18-35 crowd out to vote. How else you going to get kids away from the video games? Put up a ref on pot, create some excitment. A page out of the apple playbook.
  3. itsame


    I've read that even though 18-35 year olds were motivated to vote yes and get marijuana legal, they still were too lazy to get out and vote. Go figure.

    Another thing I think a lot of journalists are not saying is how much pot growers don't want this prop 19 to pass as it will put them out of business. I don't have a link, but I've read that they are estimating that the price of a pound of marijuana would go from $3,000 to $300 almost overnight by making it legal and introducing competition
  4. S2007S


    Yea I heard that as well, a lot of people who grow it out in Cali would probably lose a huge amount of change if this were to pass and of course prices would drop dramatically overnight as anyone could grow their own.
  5. I doubt that much of a price drop maybe 50%. It's decriminalized in Denver and prices are the same as in the 80's-90's. Its legal to brew your own beer or make your own wine. How many do that? Its decriminalized in Southern CA, that I know of, already. Its easy to get one of the prescriptions. Maybe that's why it didn't pass. Its a waste to pay a minimum, conservative estimate, 24k a year to incarcerate someone in jail for selling weed. If nothing else could have saved the bankrupt state a few bucks. Guess its up to Governor Moonbeam to figure it out now.
  6. "told ya" said a spokesman of the 'BC Bud' growers and exporters here in beautiful
    British Columbia, Canada - 'the best place on earth' according to our licence plates -
    "the multi-billion market remains in place"