𝗕𝗶𝗱𝗲𝗻 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗯𝗮𝗻𝗸𝘀: What’s he up to now and what does it mean for your money? - Mar 31, 2023

Is your money "safe"?

Mar 31, 2023 • View this email in your browser Biden says he's out to protect the little guy. But can he? After success stories from Iceland and news about the large-scale field trial in Great Britain, a pilot project on the 4-day week is now starting in the USA. 38 companies are testing the 4-day week while the results are being scientifically analysed. Last year, some companies already tested the effects of shorter working hours – and have ended up switching permanently to a 4-day week. They are on the rise in countries all around the world: the 4-day week and the 32-hour week. Some companies are testing shorter working hours to make themselves more attractive employers, others are already introducing them permanently. In countries like Iceland or Great Britain, there have been and still are large-scale field trials with thousands of participants. The aim is to investigate how working time reductions can be implemented and what the consequences are for employees, productivity and the working atmosphere. The field trial in Iceland, which started in 2015, was so successful that 86% of Icelandic employees have now been given a reduction in working hours – or the opportunity to do so. The UK is now following and copying the Iceland trial on a larger scale, starting June 2022. In Belgium, on the other hand, the government has decided on the possibility of a 4-day week – albeit on the basis of condensed working hours. Here, the focus is laid on flexibility instead of an actual reduction of working hours. US-Companies are also testing the 4-day week Large companies have sporadically experimented with working hours in 2021, including Kickstarter, Bolt (a payment service provider), Unilever and others. According to CNBC, 38 companies in the USA and Canada are now testing their own 4-day work week pilot programme. Work shorter hours, more time for family, friends and recreation. Studies on the 4-day week show the advantages. The non-profit organization "4 Day Week Global" launched a six-month pilot programme for the 4-day week in the US in April 2022, with several companies now participating. The pilot programme will end in September and then be evaluated. How does the pilot programme for the 4-day week work in the USA & Canada? Companies participating in the trials in the USA and Canada will be matched with a sponsor company that has already successfully switched to the 4-day week. This should facilitate the internal reorganisation of the company. At the same time, scientists from Boston College are analysing the effects of the reduction in working hours. The pilot programme wants to show that people can work 80% of the standard weekly working hours and still achieve their work goals. And therefore should also earn 100% of their salary. Newsweek magazine has published a list of companies implementing the 4-day week. Studies from several countries: 4-day week increases health, well-being, and productivity Juliet Schor, an economist and sociologist at Boston College, has been conducting studies on the 4-day week for years. She said: "What we find with all the individual company cases that we've seen is that giving people a 4-day work week dramatically reduces their stress levels, their burnout, it improves their work-life balance. It improves their overall health and wellbeing … There are fewer sick days taken. There's less absenteeism and personal days." Dear Reader, The recent bank collapses are all anyone is talking about. President Biden said, "no losses will be borne by the taxpayers." But how is that possible? Won't the Fed just print more money to pay for the losses? And then the dollar will be worth less? Over the past 20 years, renowned economist Dr. Nomi Prins has leveraged her experience at some of America's biggest financial firms, including JPMorgan Chase, Bear Stearns, and Goldman Sachs… And built a global network of experts. Now, she's predicting a strange new economic event that could mean the difference between a relaxing retirement… or years of frustration and regret. Click here to find out how you can come out on the right side of this historic event. Regards, Maria Bonaventura Senior Managing Editor, Rogue Economics P.S. It involves the greatest transfer of wealth in American history. 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