Well, for one thing people have so much wealth stored up in the market value of their homes. This provides a tremendous reserve for maintaining consumer spending. Secondly, the federal government and the federal reserve have learned how to use tax cuts and low interest rates effectively to lift the economy out of a recession. Third, the US dollar has become well established as the world's reserve currency enabling the US to lift itself out of economic doldrums by buying Chinese goods that will be financed by offsetting purchases of US debt instruments. In other words, consumption has now become, in effect, a form of investment. Fourth, let's not forget technology -- there's no problem on earth that technology can't solve.
I hope I have answered your question and calmed your fears.
The Sandwichman