This one also makes perfect sense. We all know how much smoking costs the healthcare system. Once we hit rock-bottom and stop trying to create jobs by wasting money, by propping up the economy with spending for spending's sake, we'll look for ways to create value. There will be no more tobacco lobby by that time to defend itself. There will be no stockholders of tobacco companies to piss off, because the stocks will be worthless by then anyway. And the federal government will eventually stop being so concerned about wiping out common shareholders. Shoot, maybe by then investing will be socially frowned upon.
Nicotine is a stimulant. Use of stimulants fuel bull markets. Depressants take over in bear markets. Long booze! The rise of Starbucks through the last bull market and subsequent crash in the bear is all you need to understand this concept.
By the time we get to the other end of this depression, I'll bet you smoking will be illegal. So, smoke 'em if you got 'em!
Joe
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