Jun 10, 2019
Translated from DAS ROTE TUCH (Workers Red Banner), a revolutionary workers’ journal in Germany.
More and more nursing homes in Germany are being bought by hedge funds – nearly 100 last year. Hedge funds take out loans to buy nursing homes. Then they pitilessly cut corners on everything – staff, equipment, food, etc. – to pay back the debt and to make the nursing homes “lean” enough to sell at a profit.
In this society, nothing is spared from the profit motive. Capitalists speculate on everything: food, housing, and even the health and dignity of the elderly.