Love it or hate it, cash is playing an increasingly less important role in society.
In some ways this is great news for consumers. The rise of mobile and electronic payments means faster, convenient, and more efficient purchases in most instances. New technologies are being built and improved to facilitate these transactions, and improving security is also a priority for many payment providers.
Yesterday we showed something strange: while oil prices have rebounded from multi-year recent lows, gasoline prices have not only rebounded but have done so with a vengeance, sending retail gasoline at the pump is now back to levels last seen just over a year ago, even as WTI (and Brent) is materially lower. As we concluded, "gas prices are unchanged while oil prices are 25% lower."
Submitted by Jeffrey Snider via Alhambra Investment Partners,
After seeming so “dovish” last month in the bland, edited April policy statement, the FOMC meeting minutes reveal supposedly a different vibe. Yesterday’s release has to this point given “markets” more to assume that a second hike will be coming in June. The statement itself leaves little doubt about what is actually dictating their (irrelevant) policy gestures.
The Affordable Care Act, affectionately called Obamacare, has been stacking up wins lately.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Earnings: Everyone Gets A Trophy
The ongoing process of the “wussifcation of America” has now spread from Main Street to Wall Street.
When I was growing up, we played sports. Coaches yelled at us, when we got hurt we were told to “rub some dirt on it” and “walk it off.” When we won a game we were cheered by our parents and coaches, when we lost we were disappointed.
Guess what? We got over it.