Where to Live Post 2010?

Should I remain in Australia, go back to the U.S.A, return to Italy, or move to a different country? This is a question that has repetitively popped into my head over the past few years and to which I am getting close to give a definite answer. Since this is a topic of discussion often considered by emigrants, I'd like to share the conclusions I have reached so far.

Step_1: Italy is a great country to live in (especially if it is your motherland). Food is unique with its flavours and variety, arts and history can be admired everywhere and not just in a few museums, the language is beautiful and can be highly intricate and sophisticated but also warm and simple through its many dialects, the Mediterranean Sea is warm and hospitable over summer, and the Alps are capped with snow in winter. These are some of the things I miss the most! However, the high cost of living, horrible burocracy, economic downturn, and devastating politics have all contributed over the years to make life in the country unbearable for the middle class. In my view, a life in Italy today is worthwhile only for rich retirees.

Step_2: Australia, a welcoming nation that gave me a lot, is a great place where one can afford to live reasonably well with little effort. Here it is easy to grow a family, while maintaining hobbies, and not being consumed by work. On the other hand, the country does not offer greatness in any form: food is average, history is close to nil, natural beauty is not unique and hostile, inventions are scarce, the economy does not facilitate the creation of substantial wealth, etc.

Step_3: The U.S.A. is no longer the land of opportunities that used to be! With its unique mixture of positive and negative aspects it sits in between the situation already outlined for Italy and Australia. In reality, similar conditions apply to all 'first world' countries, whose capitalistic democracies were aligned with the United States during the cold war (Canada, New Zealand, most of the EU, and Japan). Some nations sooner than others, but they all have reached a high cost of living, inflated real estate markets, strict government controls/regulations, etc. which significantly limit individual freedom within invisible but established societal boundaries.

Step_4: Most countries from the second world (former communist nations) and third world (neutral states) enjoy today a favourable position as they benefit from a growing economy, an increasingly stable political environment, low costs of living, proximity to developed nations, etc.

Step_5: It remains quite difficult for citizens of first world countries to benefit from the booming of second and third world economies. Usual barriers are: (1) English not being commonly spoken; (2) foreigners having significantly restricted rights in regard to property ownership and other types of investment; (3) unrecognized dual citizenship; etc.

Step_6: However a small group of second and third world countries offer great opportunities also for first world citizens because they either are about to enter the EU, consent double citizenship, allow foreign investors to acquire real estate, have low taxes, etc.