Yesterday, the euphoria on Wall Street broke for a while as investors paused for thought to digest crappy July retail figures. Even with the feds funneling borrowed cash into the economy and high-profile government boondoggles such as the “cash for clunkers” program working, Americans are still doing the sensible thing and cutting back on spending. July retail sales dipped 0.1%, and the Dow, the S&P 500 and the Nasdaq all took lumps.