Friday, 11 March 2016
Stephen Darori : Irritating us again with Daylight Saving Time
Stephen Darori : Irritating us again with Daylight Saving Time: Daylight Saving Time: A Government Annoyance On March 13 Americans will, in their tolerant nature, acquiesce once again to a governme...
Irritating us again with Daylight Saving Time
Daylight Saving Time: A Government Annoyance

On March 13 Americans will, in their tolerant nature, acquiesce once again to a government initiated (and hardly popular) loss of one hour, and the setting of clocks out of sync with our planet’s celestial rhythm.
After an earlier (unpopular) 1918 trial of Daylight Saving Time and its later repeal in 1919, it was re-enacted nationwide under Nixon under the “Emergency Daylight Saving Time Energy Conservation Act of 1973.” It’s now a relic of inappropriate interventions of the early seventies that included wage-price controls and the 55 mph speed limit. It represents what we don’t need. Consider some of the reasons for repeal:
Nature: It unbalances what is naturally harmonious. Highnoon should be when the sun reaches its apex, or as near as this can be, given the use of time zones.
Sleep Cycles: The (circadian) sleep cycle need not be disrupted twice a year, even if accomplished by a show of hands. In truth, the legislative process should be called out for its shortsighted habit of running roughshod over established peaceable social order. Here it smacks of social engineering with a disregard for workers, not to speak of an insensitivity to children losing sleep in the adjustment.
As reported at telegram.com “The Fatal Accident Reporting System found a 17 percent increase in traffic fatalities on theMonday after the shift.” This article cited findings in a University of Colorado at Boulder study of an increase in fatal motor vehicle accidents the first six days after the clocks spring ahead. This study suggests that the time change may even increase the risk of stroke.
Freedom: If those in a workplace agree to change their hours of work they are free to do so. Such “emergency” legislation imposed by the Federal government, on the other hand — however minor they seem — mandate conformity at the expense of basic freedoms.
Efficiency: Moreover, with the advent of LED-lights, the old cost-of-lighting argument has faded, especially because the start of the day has already been advanced about one hour as mentioned above. In fact, with more air-conditioning, the bias is for increased use of electric power under the time-shift, as people come home earlier in the hot season and turn up their air-conditioning.
Inconvenience: One has the annoyance of twice a year resetting clocks. This may take only 10 minutes, but over a 60-year span it’s 20 hours.
We all know what it feels like to arrive at work on time to find that everyone else had dutifully changed their clocks, so that we turn out to be one hour late.
There are real-world effects on major industries as well. Train and transport schedules cannot be easily adjusted. Amtrak, for instance, idles trains (and passengers) for one hour to keep on schedule in the fall and then tries to make up an hour in the spring by hurrying. More hourly work schedules need adjustment now that more businesses are open 24-7.
Affrontery: Perhaps worst of all is the fact is that there is no gain whatsoever in the number of minutes of sunlight in a day. It is hence presumptuous to maintain that the culture and habits of the people, as expressed by their arrangements and choices, were in error before the change. The benefit of the doubt should logically rest withconventional time.
Principle: Resetting clocks and watches not once but twice a year, is less a compromise of effort than of principle. It contributes to the habituation of interference by the state. We already prostrate ourselves filling out 1040 forms that tax the sale of our labor, including a required signature in disregard of the Fifth Amendment protection against self-incrimination. If we ever want to undo such an affront to freedom, annoying impositions such as time-shifting are a good place to start.
Sunset Old Laws: Thomas Jefferson suggested an automatic sunset provision for legislation: “… every law, naturally expires at the end of nineteen years.” In an April 2016 Reason article by Veronique de Rugy: “What Government Can Learn from Moore’s Law,” is suggested a sunset provision (that could be retroactive) in all Federal statutes and regulations to require an updated renewal within two years. Even better, might be a required super majority for renewal. In Jefferson’s day, by the way, clocks were known as “regulators,” but such regulation stemmed not from legislation, but from social convention that produced efficient governing without the state.
As with a plethora of interventions some may be minor inconveniences, but like time-shifting, they share in a disrespect for the principle of simply leaving people alone. Mandated time shifting affects everyone while standard time imposes on no one.
After an earlier (unpopular) 1918 trial of Daylight Saving Time and its later repeal in 1919, it was re-enacted nationwide under Nixon under the “Emergency Daylight Saving Time Energy Conservation Act of 1973.” It’s now a relic of inappropriate interventions of the early seventies that included wage-price controls and the 55 mph speed limit. It represents what we don’t need. Consider some of the reasons for repeal:
Nature: It unbalances what is naturally harmonious. Highnoon should be when the sun reaches its apex, or as near as this can be, given the use of time zones.
Sleep Cycles: The (circadian) sleep cycle need not be disrupted twice a year, even if accomplished by a show of hands. In truth, the legislative process should be called out for its shortsighted habit of running roughshod over established peaceable social order. Here it smacks of social engineering with a disregard for workers, not to speak of an insensitivity to children losing sleep in the adjustment.
As reported at telegram.com “The Fatal Accident Reporting System found a 17 percent increase in traffic fatalities on theMonday after the shift.” This article cited findings in a University of Colorado at Boulder study of an increase in fatal motor vehicle accidents the first six days after the clocks spring ahead. This study suggests that the time change may even increase the risk of stroke.
Freedom: If those in a workplace agree to change their hours of work they are free to do so. Such “emergency” legislation imposed by the Federal government, on the other hand — however minor they seem — mandate conformity at the expense of basic freedoms.
Efficiency: Moreover, with the advent of LED-lights, the old cost-of-lighting argument has faded, especially because the start of the day has already been advanced about one hour as mentioned above. In fact, with more air-conditioning, the bias is for increased use of electric power under the time-shift, as people come home earlier in the hot season and turn up their air-conditioning.
Inconvenience: One has the annoyance of twice a year resetting clocks. This may take only 10 minutes, but over a 60-year span it’s 20 hours.
We all know what it feels like to arrive at work on time to find that everyone else had dutifully changed their clocks, so that we turn out to be one hour late.
There are real-world effects on major industries as well. Train and transport schedules cannot be easily adjusted. Amtrak, for instance, idles trains (and passengers) for one hour to keep on schedule in the fall and then tries to make up an hour in the spring by hurrying. More hourly work schedules need adjustment now that more businesses are open 24-7.
Affrontery: Perhaps worst of all is the fact is that there is no gain whatsoever in the number of minutes of sunlight in a day. It is hence presumptuous to maintain that the culture and habits of the people, as expressed by their arrangements and choices, were in error before the change. The benefit of the doubt should logically rest withconventional time.
Principle: Resetting clocks and watches not once but twice a year, is less a compromise of effort than of principle. It contributes to the habituation of interference by the state. We already prostrate ourselves filling out 1040 forms that tax the sale of our labor, including a required signature in disregard of the Fifth Amendment protection against self-incrimination. If we ever want to undo such an affront to freedom, annoying impositions such as time-shifting are a good place to start.
Sunset Old Laws: Thomas Jefferson suggested an automatic sunset provision for legislation: “… every law, naturally expires at the end of nineteen years.” In an April 2016 Reason article by Veronique de Rugy: “What Government Can Learn from Moore’s Law,” is suggested a sunset provision (that could be retroactive) in all Federal statutes and regulations to require an updated renewal within two years. Even better, might be a required super majority for renewal. In Jefferson’s day, by the way, clocks were known as “regulators,” but such regulation stemmed not from legislation, but from social convention that produced efficient governing without the state.
As with a plethora of interventions some may be minor inconveniences, but like time-shifting, they share in a disrespect for the principle of simply leaving people alone. Mandated time shifting affects everyone while standard time imposes on no one.
Tuesday, 16 February 2016
Stephen Darori : Why Negative Interest Rates Will Fail
Stephen Darori : Why Negative Interest Rates Will Fail: It is now just a matter of time before the US central bank follows the central banks of Japan, the EU, Denmark, Sweden and...
Why Negative Interest Rates Will Fail
Patrick Barron • 4 hours ago
"an environment full of malinvestments and growing government constraints."
Just so. The Russian people had lots of cash during the Soviet Era. What they didn't have was anything worthwhile to buy. (I know, because I was there in the early 1970's as a young US Air Force officer during the age of détente.) This article zeros in on the main problem--that expansion of money and credit causes disequilibrium in the structure of production. In other words, we are pouring scarce REAL capital goods, such as drilling equipment, into projects like oil from shale that will lose money. There really is no reason to produce oil from shale when Middle Eastern production costs are so low in comparison. And, please, don't bring up the old "we'll be energy independent" nonsense that is nothing more than a variation of a call for national economic autarky.
Roland Patrick Barron • 3 hours ago
Yes, energy independence is a stupid idea, yet one that is embraced universally by politicians and cheered wildly by their admirers. We don't need to be energy independent any more than we need to be banana independent, titanium independent, or anything-else independent.
Edward V2.0 Roland • 2 hours ago
We need to develop a Public Lighting Authority to become Light independant. Some day, the sun may decide to raise the price of light, and we want to be prepared.Further (borrowing from Bastiat), if we ban the sun for unfair competition, we can experience economic growth of the lighting industry. Think of the jobs we'll create!
Give me Liberty Roland • 3 hours ago
My favorite presidential candidate - Vermin Supreme - has a solid energy independence platform: harness the power of zombies through the construction of giant turbines and then dangle brains in front of them .
noah Give me Liberty • 3 hours ago
His foreign policy is quite sound, as well, if I may fabricate a quote:"We will glitter-bomb ISIS into oblivion. I don’t know if sand can glitter in the dark, but we’re going to find out."
Give me Liberty noah • 3 hours ago
Oh yes, and don't forget he will invest in time travel research to go back and kill baby Hitler.
In all seriousness now. I think it is very important to have people like Vermin (his own views are not perfect) to mock the degeneration that we call the political process and modern politics.
If I vote (not likely), I'll either write in Vermin Love Supreme or Ron Paul.
noah Give me Liberty • an hour ago
Please do vote... if it's important to have people like Vermin to
mock modern politics, then he deserves the reward of your vote. (Same for Ron Paul.)I personally make it a habit to vote against the mainstream, simply because abstaining could be viewed as accepting the mainstream by way of non-participation. (I live a half-mile from my polling place, so it's not much effort to make my token protest vote.)Some say by participating in the process you grant it legitimacy, but I disagree. When asked by the system if you would rather eat dog shit or cat shit, saying "fuck you" seems like a better, louder rejection than saying nothing at all.
Phil Miller noah • 24 minutes ago
No way no how will I vote or even register to vote. Then I'll be on voter rolls and get robocalls. Even worse: I will be put on the jury duty list.
crs44 Phil Miller • 16 minutes ago
I considered registering to vote this year to vote for Trump (only because he pisses off both sides and I would love the political chaos), but I decided against it mainly because I didn't want to be on the jury-duty list.
Give me Liberty Patrick Barron • 3 hours ago
Patrick, I'd say there is plenty of reason to make oil from shale....if it is profitable. Apparently, these oil people were counting on higher prices with no end in sight. Fine by me if they go bankrupt.
noah • 3 hours ago
"few banks have credit-worthy customers and many banks are having difficulties collecting on existing loans"What, is that a problem?If you can't keep collecting on existing loans, you NEED new loans to generate income. The key is keeping bad loans on the books as assets rather than liabilities.In a fantasy world where all "savings" and wealth are represented by (largely unpayable) debt or freshly-printed money, anything seems possible, and only one rule applies: NEVER stop kicking the can, because the moment the can is no longer in motion, the fantasy ends.
Joch C. noah • 3 hours ago
"The key is keeping bad loans on the books as assets rather than liabilities." And then convincing the FedR to come along and purchase this junk before anybody notices it is indeed junk. The FedR then redistributes the loss.
It really is a silly system. Kick the can as you say. A giant game of global kick the can. Who are the adults in the room, I don't see any.
Edward V2.0 Joch C. • 2 hours ago
Kick the can until its to big to fail...then you'll be guaranteed a bailout funded by the very people you've been fleecing. BRILLIANT!
DZ • 3 hours ago
An article from the end of last year on Fed rate-setting policy tools if anyone is interested.
Joch C. DZ • 2 hours ago
So I briefly skimmed that link. I here a lot about setting rates. It seems to be the topic of conversation of late. Isn't that all just smoke and mirrors? Meaning, the Fed just tells its member bank appendages what the rate will be and all the operations are for confidence only?
Joch C. • 7 hours ago
see moreNegative interest rates are a misnomer and simply not possible. What is happening should be called something other than negative interest. Call it, getting boned, but don't call it negative interest rate. To accept their terminology only further serves their cause.
Edward V2.0 Joch C. • 2 hours ago
Call it what it is....its a unauthorized tax on Americans, under the false flag of 'monetary stability', or was it 'full employment'...I forgot what the FED's stated mission was this go round......but make no mistake, it is just another form of taxation.The same could be accomplished by simply taxing reserves and/or deposits. But raising taxes requires a vote in congress, and people generally don't like tax increases, or politicians.The hidden way, they don't need your approval to get your wealth, and the politician doesn't get the flashback of tax increases during the next election cycle.
Joch C. Edward V2.0 • 2 hours ago
That full employment mandate has got to go.
Full employment mandate = Create as much fiat credit as required to make as many jobs as possible no matter what side effects this may have, no matter if this creates job or kills jobs,no matter if these are real jobs, duplicate jobs, no matter who gets the money and how the salary is used ( drugs, guns, murder, sloth, gluttony) no matter what. Just crank out money, lots and lots of it.
Edward V2.0 Joch C. • 2 hours ago
The world's largest Adult Jobs Program should be converted into a magician show...'WATCH as we quietly siphon away the WEALTH of Nations!!!'
Edward V2.0 • 2 hours ago
So...here's a question. How does negative interest fit into QE1-4? Doesn't the FED pay commercial banks interest to hold the QE money in reserve?Where does these trillions slosh around to next if the FED starts charging them negative interest on reserves held with the FED?My understanding of QE was that the money was sent to commercial banks to prop up thier balance sheets, followed by the FED's 'stress tests'.Is QE trillions still sitting in commercial bank reserves? and are these the reserves that will be charged a negative interest? and if so, then where does this money flow to to get away from negative returns? or are they accepting some negative returns because they anticipate the QE money flowing back into circulation will cause steep inflation?Of course...at the end of the day, these questions are irrelevant, as is the complexity of their illusionary 'system of monetary stability'. It is all mis-allocation of wealth.//So, the more you interfere with interest rates, the more you create a misalignment between demand and supply across time, and the greater will be the adjustment to realign output with demand to return the economy to sustainable economic growth with rising standards of living. Negative rates will only ensure an ever greater misalignment between output and demand.//Kick the can till it's to big to fail, then you're guaranteed a bailout coercively funded by the very people you've been quietly fleecing the entire time.
The One • 6 hours ago
Has anyone read The Federal Reserve Monster 1922 by Sam H Clark and Wallace Campbell? I'm currently reading it and loving the authors' style of English. Not very business-like but emotive, no 'beating around the bush' attacking style and gripping to read. Perhaps we need more of this style of English on here.
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