WITH US IN DECLINE, CANADA MUST STEP UP POT ECONOMY

Hunter S Thompson called it The American Century: unsurpassed
industrialization in the first half of the 20th century combined with
rapid societal adoption of the new industrial regime bred a bolder,
richer American people that led their country to prosperity through the
close of the millennium.

No matter the long-term outcome of the American empire, there is
little doubt that its golden years have passed. Their oil's almost
gone, they're getting attacked on their own land by an enemy they
can't even identify and they're despised by most of the world.

It took an eternity for the US to reopen its borders to our beef, and
this softwood-lumber issue is making some people question American
motives: in their country's time of decline, is the Bush
administration simply trying to keep us in line? If so, should we act
on it? Can we?

We ignore one of Canada's most potentially profitable resources. Do
you know how much marijuana there is in this country? (Maybe $8.5
billion worth annually, by one estimate.) Do you have any idea the
windfalls that the government would reap if it regulated the industry
and charged even a one-per-cent tax? There are a lot of hospital beds
at stake here.

Stephen Harper's announcement this week that pot won't be legalized
after all is a huge financial error. Forget the push to legalize pot
based on its relative harmlessness. Think of it in terms of a taxable
resource. That shouldn't be so far off-we've already got cigarettes,
liquor and fast food.

Canada is stunting its growth by prohibiting pot. Inject
marijuana-related income into our GDP and we'll not only be richer,
we'll gain respect.

Regulating marijuana is a point of national pride. The industry
already exists and will continue to exist whether the government dips
in or not. In addition to the prosperity a pot market would bring,
squabbles over incidentals like softwood lumber and beef would fade in
view of Canada's new mega-industry.

China is the current frontrunner for the 21st century's most
influential nation. With oilsands revenues complemented by our
established democracy and rule of law, Canada won't be far behind.

We're not even playing our best cards yet.