The FT is interpreting Mastercard's blowout earnings as US consumers turning to plastic as a last ditch funding source for their basic needs.



"MasterCard on Tuesday said first-quarter profits more than doubled to $447m, or $3.38 per share, as US consumers put more expenses such as food and petrol on their cards. 'We recognise that our customers are experiencing extraordinary challenging conditions,' said Robert Selander, MasterCard’s chief executive. Taken together, the results demonstrate the heavy pressure weighing on US consumers as the value of their home falls and the price of petrol, goods and other items soars."



Hey, there's an environment for a great  stock market rally, right?