My concerns currently are the escalating medical costs - the Health system is being eaten alive.
In the US it is illegal for one hospital to tell another hospital how much they are paying for ANY item they purchase from a medical supply or drug company.
In the early 2000s a Wall Street broker lured away a major (really major) hospital's CFO to become a senior analyst and he promptly revealed all.
A similarly huge hospital in the same city as his hospital was paying double or more for the exact same hip prostheses as where he was CFO, the cost of drugs similar.
After doing much digging into the US system, I ruled out investing in any health related or pharma company as they were such a large target for required budget balancing. An even more cynical soul than I declared that I'd finally reached the end of my cynicism - and was completely wrong. As he put it then "
donations work, ideals fail, lobbyists prevail."
In Aust some drugs cost the Fed Govt up to 17x what the NZ Govt pays for them - curiously enough political donations to many politicians (and parties) can coincidentally see bad outcomes for the community.
A different example but a wonderful (disheartening) example of the strength of 'lobbyists'.
IN the very late 90s early 2000s McDonalds had been looking into trying to get as close to 100% recycling of their packaging materials. They had come up with a way to recycle a close relative of polystryrene containers for reuse. So they were talking (providing advance warning)with their current packaging suppliers about phasing out the cardboard and paper materials.
Within days three multi-national NGOs (from memory I think they were WWF, FOTE and Greenpeace) began extensive campaigns using scenes from the Exxon Valdez oil spill to campaign against the evil McD threatening the environment with 'oil' based packaging - putting profits before people and the environment.
Within a month after McDs in Europe, the UK and US were being regularly picketed etc - McD announced they would stick with paper and cardboard.
Nine months later a colleague came over to me with two paper companies annual reports - one based in Canada and the other Scandinavia. He had marked a page in each report - right towards the back.
They were the list of top ten donations made that financial year. The donations were between USD750,000 and USD250,000. Each of these particular paper companies were amongst the half dozen suppliers to McD.
Each had made donations of at least USD 250,000 to each of the three NGOs who had launched the campaign against McD's planned switch. Being the pedant - I asked to see the previous two years annual reports. Yes, you guessed it - they had not been in the top 10 for donations previously and in the previous years (for one of those two company's) the 10th largest donation was just under USD50,000.
The worst thing was that from a total environmental life cycle calculation - the 'new' approach cut the environmental impact by nearly 70% vs paper and cardboard even though the bulk of the paper and cardboard came from plantation timber.
"donations work, ideals fail, lobbyists prevail."
You'd think I wouldn't have been so naive when I later came to delving into the medical sector after that?