The Strengthening the Tenth Amendment Entrusting States (STATES) Act is being introduced this morning on Capitol Hill. Should President Trump support it, the STATES Act would allow every state legalize cannabis and regulate it as each state sees fit.
Oversupply is a natural part of the economic process. It’s good for consumers as prices decrease, and it serves as a critical, albeit punishing, piece of information to producers who now have to re-adjust their strategies to the market. Did Oregon not suspect this potential consequence? It’s Economics 101.
It’s no secret that bureaucrats stifle innovation. After all, regulators probably wouldn’t be regulators if they had the capacity to actually “create” something. But that process would require something other than bean-counting. BitLicense has been criticized as a primary example of how regulators can create a “crypto backwater.” Should anyone be surprised?
Trump has been focusing on the job market, which has shown considerable growth. But the “greatest ever” US economy? Only if you’re myopic. Considering the other important measures of the US economy, we are still way below the Golden Years of the 1950’s and 60’s. The data will clearly show this. But again, perhaps comparing historical eras is like comparing apples and oranges. It doesn’t quite work when viewed “qualitatively” rather than “quantitatively.”
Last week, Mastercard announced that it will be rolling out its proprietary B2B blockchain payment system. Another sign of the technology’s trending toward mainstream adoption, Mastercard’s system will not, however, include cryptocurrency transactions. Instead, they will be using it to increase the speed and efficiency of fiat currency transactions, both domestic and international. And with Mastercard’s global network of 22,000 banks and financial institutions, Mastercard may have just taken a crucial and competitive step ahead of its peers.
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