To understand Schumann resonances, it helps to picture Earth as a giant electrical circuit. A series of extremely low-frequency electromagnetic pulses bounce between the ionosphere and the surface, tied to peaks in lightning activity around the globe. These resonances are often called "the heartbeat of the Earth", and from a certain point of view, that poetic label encouraged some "creative" types on the web to invent biological influences, or even shifts in the planet's rotation speed.
Experts estimate that at any moment there are some 2,000 thunderstorms around the globe, producing about 50 lightning strikes per second. Each one sends out electromagnetic waves that circle the Earth inside the resonant cavity formed by the surface and the lower ionosphere, about 80–100 kilometers up. Some of these waves share the same wavelength, which lets them combine and grow stronger. The result is an atmospheric "beat" commonly known as Schumann resonances, named after the German physicist Winfried Otto Schumann, who predicted them in 1952 and was later “transferred” to the United States under Operation Paperclip.
The peaks of lightning activity are three: one in Africa, another in South America, and the last in Southeast Asia, appearing around 09, 14, and 20 hours UTC each day, with changes in timing and amplitude throughout the year. NASA explains that the resonances are a very useful tool for measuring different aspects of Earth's climate, including its electrical environment, and for identifying atoms and molecules present in the atmosphere. However, the idea of a heartbeat of the Earth proved irresistible to some people who keep spreading pseudoscience.
One of the most common examples is alpha waves. First, they claim that the frequency of alpha waves and Schumann resonances is identical, around 7.8 Hz, when in reality that's not the case (both are variable). Second, they say they're linked to neuronal synchronization, giving Schumann resonances a fundamental biological role for life on Earth. Another big hoax came from author Gregg Braden, who in 2008 said the resonances had gone from 7.8 Hz to 12 Hz over the previous thirty years, and by applying the inverse rule of three, concluded that those 12 Hz were "equivalent" to a day of 15.6 hours, meaning Earth was spinning faster. Personally, I'll just say I need a day with more hours, not fewer...
Source: NASA
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