U.S. Psychedelic Drug Legalization: Urgency Or Inertia?

The triple-crisis that psychedelics legalization could address

Social crisis

The social crisis for which legalized psychedelic drugs are urgently needed can be summed up in three words: Mental Health Crisis. See: An Investing Roadmap For The Mental Health Crisis

Over 1 billion people globally (roughly 1 out of 6 people) currently suffer from four mental health disorders: substance abuse, depression, anxiety, and PTSD.

Thanks to the COVID-19 pandemic, rates for (in particular) substance abuse, depression and anxiety are spiraling out of control. For every person on the planet who has been infected with COVID, there are ten other people currently afflicted by substance abuse, depression, anxiety, or PTSD.

COVID has a low mortality rate and (for most people) quickly passes.

Mental health disorders also kill – via drug overdoses and suicides. But they tend to be life sentences, due to the woefully inadequate treatment options currently available.

Psychedelic drugs can literally revolutionize the treatment of these conditions, according to all evidence to date from clinical trials. They are essentially the penicillin of mental health care.

Presumably, even a collection of petty, self-absorbed Dinosaurs can see the urgency of legalizing the equivalent of the next antibiotics.

Economic crisis

When the current COVID political circus finally winds down, most governments around the world will be forced to confront shattered economies and (effectively) bankrupt treasuries.

When that day arrives, politicians (even Congressional dinosaurs) will be forced to address two words currently forgotten: fiscal management.

Naturally, the Mental Health Crisis that currently afflicts over 1 billion people also has enormous economic costs.

Most mental health care today generally implies little more than providing the equivalent of emotional bandages for the afflicted. Only a small minority are ever cured of their disorders.

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Disclosure: The writer holds shares in MindMed Inc, Numinus Wellness, Cybin Inc, and Mind Cure Health. Mind Cure Health is a client of Psychedelic Stock Watch.

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