Your points are valid in reference to the current way the global economy operates, but you can also have an economy that is not consumer driven, which was the case many time during history. The transition from a consumption led economy to one which instead empathizes exchange of value and limited consumption will cause a massive reordering of the world and depending on how quickly it occurs it will be the greatest recesseever seen. But also as Global Population peaks and then declines in the late stage of this century, we will also observe a collapse of the consumer led growth model. When the majority of the population is retired on a fixed income, consumption will crater out of necessity.