59% of Americans can't cover an emergency expense of $1000. Economically disadvantaged people developing emergency funds and basic financial solvency is not going to destroy consumer spending.
Further, consided that the top 10% are responsible for half of all consumer spending, and the bottom 50% combined control just 2.5% of all assets. The bottom 60% ceasimg all spending would barely even move the needle, they're insignificant in the macro picture.
You are also making assumptions about my portfolio makeup, chiefly regarding long exposure to US equities that are primarily or substantially beneficiaries of consumer spending. This is not true for me personally, and moreover, there is plenty of money to be made in markets with or without tiny consumer spending blips.
