Hemp not the answer
To answer Tom Beach on why not hemp. First and foremost where is the actual science behind CBD claims? Knowing that cannabinoids are complex and numerous does not mean they do what the claims are as miracle maker. Now I’m willing to grant that some may be overblown but that is exactly what we should worry about.
And here are the two things most worrying that everyone should think seriously about. Hemp is a weed. That’s right. Marijuana just didn’t get it’s name for any other reason. So do we need another invasive plant in Hawaii. We already seen the mistakes with fountain grass, fire weed, albizia, and miconia. What happens when birds spread the seeds and we see our pastures and road sides being taken over? And then we have the smell. Hemp is pungent and in California a whole area where hemp is grown is now called Skunk Valley. Being down wind from a hemp farm would be terrible. And lastly, while I will agree that CBD does have the potential for medical reasons the idea that this will be an agricultural winner is very suspect. Sugar and pineapple couldn’t make it and we have hundreds of acres of eucalyptus that haven’t made it. Is this a product that could become another invasive plant and creating a stink of another kind worth the risk?
Spending our way out of a national emergency
In Paul Krugman’s recent book “ZOMBIES…,” he addressed the fallacy of hyperinflation caused by excessive government spending. Specifically, he talked of post World War II recovery through examining the ratio of national debt to GDP. He stated that in those times, our national debt was 200% of our GDP because of necessary war efforts; England’s ratio was 280%. Those wise recovery efforts grew the economy in a manner that was wildly successful.
Mr. Krugman uses this train of thought to refute what he calls the “zombie” notion that needed spending will fuel hyper inflation. If we accept this Nobel Laureate’s premise, as our GDP is $21 trillion and national debt of $27 trillion, if we adhere to Krugman’s 200% ratio we could have $15 trillion in recovery monies available for needed education and other social programs, stimulus and business recovery, support of local jurisdictions, and infrastructure.
Controlling this emergency is our first concern, bankrolling it must follow responsibly. The next step we should take is have the Federal Reserve refinance our national debt of $27 trillion. This would take advantage of low level interest rates to eliminate $1 triller per year debt service and add that to available funds. By putting that cash back in the hands of note and bond holders it would be reinvested.
Letters to the editor should be 300 words or less and will be edited for style and grammar. Longer viewpoint guest columns may not exceed 800 words. Submit online at www.westhawaiitoday.com/?p=118321, via email to firstname.lastname@example.org or address them to:
West Hawaii Today
PO Box 789
Kailua-Kona, HI 96745