Friday, March 7, 2008
The Truth about Daylight Savings "Time"
In celebration of the Daylight Savings Holiday and because there are a lot of misnomers out there about its origins, I thought I'd offer a brief true history about the birth of Daylight Savings.
Daylight Savings was born in the heart of a financial manager during the subprime mortgage crisis of 2007. Americans were losing money in Apple stock (AAPL) and this, combined with failed social security reform efforts, created an atmosphere of economic desperation. Many were advised by their parents to "open up a savings account" but even at 4.95% APY Americans just couldn't put the money away. They loved money and hated not being able to spend it. So ING created a "Daylight Savings" account, designed for people who wanted to save money but who didn't have money, specifically, and thus could not save any. Daylight being free, people found it much easier to set aside in small quantities for an unknown point in the future than money, which costs money.
So once a year in the Spring people would save an hour of Daylight, which they would be allowed to withdraw on a designated day in the Fall. It was hard at first, but they got used to it. And they felt good about saving something, which made everybody happy and peaceful. The only people who didn't participate were Arizona and Hawaii because they hate freedom.
The end! It's nice to learn something, isn't it?