Point & counterpoint | New administration: Chris Talgo - Brace yourself, change is coming
Chris Talgo
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The Biden administration enters the Oval Office today in the midst of a pandemic and economic crisis, and with the Democrats in control of both houses of Congress, which means that big policy changes are afoot in the United States.
First, the Biden administration will use the economic crisis at hand to pursue a domestic policy platform that will be the mirror opposite of the Trump administration’s free-market, federalist program.
Second, in stark contrast to the Trump administration, which focused on a foreign policy agenda of “America first,” the Biden administration will pivot to a globalist policy program, also under the guise of COVID-19.
The S&P 500 and the Nasdaq hit all-time highs on Wednesday as Joe Biden became the 46th U.S. president, while solid results from Netflix sparked a rally in shares of stay-at-home winners.
Source: Kevin McGovern / Shutterstock.com
The recent election results bode well for many industries. But, it may be a shot-in-the-arm for the budding cannabis sector. Recreational/medicinal use of marijuana is legal in many U.S. states. But, on the federal level, it remains a controlled substance.
Yet, with the Democratic party in full control of the U.S. federal government, some big changes could be happening in the next few years. How does this relate to CWBHF stock, which admittedly is more of a play on CBD rather than full-on cannabis?
CBD is already available for legal use in the United States. But, as