How about some good news? The developed countries and especially the United States is sitting on an untapped gold mine of historic proportions if they can control one very large issue.
Specifically I am talking about the healthcare industry and the desire of many people from around the world to receive medical treatment in the United States. The simple idea that the USA could become the largest "Medical Tourism" destination in the world is supported by my world travel over the last 25 years and the perception by many of my contacts worldwide, whether correct or incorrect, that Medical care in all its forms are superior in the USA
Were it not for bizarre and frustrating immigration procedures a system of medical tourism visas could be established to encourage what would be a flood of income producing visits to the USA. Shortages of nurses and facilities could easily be addressed with special work visas for qualified personnel as has been the case for nurses over the years.
This would have a multiplier effect on exporting all types of medical devices made or distributed in the USA and provide a job stimulus and even perhaps help older Americans with opportunities in all types of support occupations. The expansion of domestic facilities would also rationalize and increase the efficiency of the domestic case load.
So what is standing in the way of turning the elderly revolution into a thriving industry reducing our debt? Simple, the comparative cost of US services and drugs as compared to other developed nations and more specifically the vast gap in costs as compared to developing countries. If we are truly in a "Global Economy" we must compete in this vital area as we do in cars and other services. The sooner we confront the lawyers, medical associations, insurance companies, hospitals, drug companies etc that unfairly target the USA as a special case or who add unnecessary inflated costs to end results the sooner we could unlock a boom lasting through this century.
If you think I exaggerate here is a quote and link to comparative healthcare costs worldwide. www.pbs.org/newshour/rundown/2012/10/hea....html
"$8,233 per year That's how much the U.S. spends per person. Worth it?That figure is more than two-and-a-half times more than most developed nations in the world, including relatively rich European countries like France, Sweden and the United Kingdom. On a more global scale, it means U.S. health care costs now eat up 17.6 percent of GDP."
Call your representative and demand he face down the special interests!!!
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: I have no active stock positions currently but day trade frequently without regard to industry on a technical basis.