The February 2010 Retail Sales report is out. Retail Sales increased 1.6% from last month's 0.3% increase from January 2010. While savings are down in other words, the never ending debt laden, wage repressed, consumer is alive and well. This has to be courtesy of MasterCard and Visa.

Autos are up 7.5% from last month, (wow, is everyone trading in their Toyota?) and of course garden supplies, 3.1%, and new clothes, 2.3%. Looks like the mad dash for cheap flat panels and gyrating washers which entertain your dog abated, electronics & appliances are down -1.3% for the month (don't worry, the almighty iPad will save the day (sic)).

The below graph is retail sales excluding autos:

Considering how much consumer spending is of GDP (greater than 70%, but that number includes health care), this bodes well, but does it also imply a return to the very patterns which caused the financial meltdown in the first place? A debt ridden consumer economy with no real income and jobs to pay for it all.