Category: Economics

Daylight Savings Time Costs Money in Indiana

Bobby

In the spring of 2006 the Indiana legislature forced the whole state to observe Daylight Savings Time. Up until this point, the majority of Indiana counties did not change their clocks every year.

This change in the states behavior was studied by University of California-Santa Barbara. Their conclusion? Last year the change COST Indiana residents over $8 Million in electricity bills.

As the Wall Street Journal article states, there is definitely more to the story of Daylight Savings Time. There may be social and other benefits, but the study does fly in the face of conventional wisdom. Turns out Daylight Savings is not an environmentally friendly activity, and is quite likely causing us to waste more energy.

Economic DejaVu

Bobby

“This is like deja vu all over again.” – Yogi Berra

The New York Times has an article comparing the late 70’s inflation to our current situation in 2008.

That got me to thinking, the 00s are a lot like the 70s, at least from a national perspective.

  • Early 70s, the US was caught in a foreign war that was sucking the economy dry and causing civil unrest at home.
  • 00s, the US is caught in a foreign war that is sucking the economy dry and causing civil unrest at home.
  • 1979, unrest in the mideast caused oil prices to jump and created higher fuel prices/gas shortages.
  • 00s, unrest in the mideast and global demand for oil causes oil prices to jump to over $100 a barrel.
  • 1976, a country shocked by two tems of Republican incompetence elect a democrat to office.
  • 2008, a country shocked by two terms of Republican incompetence will likely elect a democrat to office.

I could think of some more, but it’s interesting we haven’t really learned any lessons in the last 30 years. Looks like this country is repeating more of the same. The next president, republican or democrat, is going to have a long road. They will inherit a complete mess, and likely by demonized for issues beyond their control with the 2012 election rolls around.