"Inaugurates" most often means to introduce or to start something, for example a policy or period. It can also specifically refer to admitting someone into public office (i.e. "We will inaugurate the new president next week"), or signifying the first use of a public organization or project (i.e. "Will you be attending the park's inauguration on May 1st?").
Why do humans waste time? We all do it. We put off tasks we see as boring or procrastinate to avoid having to complete a task. We waste time by over thinking about situations when they require a split second decision. But is this really wasting time? Some situations require a little over thinking so could it be deemed un-nescassary to ponder over other options. You could save money, time and effort by just wondering about a simple 'what if?'. This brings up the question - is wasting time really a waste?