The Fiscal Times - Business, Economics, Politics and Finance

Detroit Bankruptcy? Pension Execs Splurge in Hawaii

Reuters

News, Analysis and Opinion

IRS Finally Makes a Smart Move by Closing for a Day

BRIANNA EHLEY, The Fiscal Times | May 24, 2013

The embattled IRS furloughed nearly 90,000 employees on Friday after a week of tough congressional hearings into...

Wall Street Writes Bills, Washington Passes Them

BRIANNA EHLEY, The Fiscal Times | May 24, 2013

In a stunning sign of the political resurgence of bankers, Wall Street lobbyists not only have the ear of...

Can Shinzo Abe Balance Ideology and Economy in Japan?

THE STAFF, Reuters | May 24, 2013

When ill health and political gridlock forced Shinzo Abe to quit after one dismal year as Japan's prime minister,...

Why Some New Tech IPOs Are Partying Like It’s 1999

SUZANNE MCGEE, The Fiscal Times | May 24, 2013

A startup company in a much-watched corner of the technology market goes public and the excitement surrounding...

IRS’s Lerner Placed on Paid Administrative Leave

ED O'KEEFE, JULIET EILPERIN, The Washington Post | May 24, 2013

The Internal Revenue Service official responsible for the office that targeted certain organizations seeking...

Netflix Declares War on Nickelodeon

JON FRIEDMAN, The Fiscal Times | May 23, 2013

One by one, Netflix (NASDAQ: NFLX) is declaring war on its traditional TV competitors. It has taken on Time...

The New Site That Could Change Hospital Billing Forever

STAFF, Business Insider | May 23, 2013

When the Obama administration went public with the first-ever comprehensive data on disparities in hospital...

Gas Prices in Midwest to Fall for Holiday Weekend

THE STAFF, Reuters | May 23, 2013

Gasoline prices in the Midwest should fall in the coming days after hitting record highs in several cities last...

States Use Apps to Enforce Hunting Rules, and More

MELISSA MAYNARD, Stateline | May 23, 2013

After a long day of slogging through the woods, Arkansas hunters used to have to check in their game at the...

How Immigration Can Aid America’s Aging Population

MICHAEL HODIN, The Fiscal Times | May 23, 2013

Unlike the scandals currently rocking the Obama administration – IRS, AP, and Benghazi, which has led to a...

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We've hit the debt ceiling again, and the U.S. is on life support. Are we headed for another blowout?

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5 Questions For...

D.J. Patil
Chief Data Scientist, Greylock Partners

"How is big data changing the way business captures customers? "

"Data science now has a front seat. Consider the success of ‘Moneyball’ and of election predictions. We’ve gone from targeting customers to building data products to benefit customers – like Google’s self-driving car. "
"Tell us something we don't know about a data scientist’s job."

"The most powerful skill of a great data scientist is the ability to create a narrative. Data by itself is cold. It’s the human that makes it come alive and be useful. "
"What excites you most about the field? "

"The ability to improve people’s lives, as in forecasting Hurricane Sandy. People are also using data to better track their health. There are advances in genomic analysis, too. "
"What concerns you most about this field? "

"We’re in an arms race against those who would breach security systems. There are very sophisticated data products out there. We need to better discuss privacy and the appropriate use of data by the government. "
"Best way to prepare the data scientists of the future? "

"Students need a great foundation in math, statistics, computer science. Domain expertise is also required. They also need to have another multidisciplinary area – biology or physics, for example. "

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Cartoons

“He said that he is socially liberal and fiscally conservative, but what he meant is that he sleeps around and is cheap.”
“You’re in luck, in a way. Now is the time to be sick – while Medicare still has some money.”
“Will this be cash or consumer debt?”
“Is there a history of recession in your family?”
“Something sleek and recessionproof, Edward”
“Well, so long, Eddie. The recession’s over.”
“I need some short-term economic stimulus.”

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Quote of the Day

[The AP violation] is a matter of policy. To say that there was “no knowledge of this” in the White House is false. This goes to the President and the people around him.