You cannot support an economy when the 99 percent have no money to spend beyond bare necessities.

All economies are demand driven.

Economic demand depends on a large number of people having money to spend and are willing to spend it.

If a large part of the population has to pay a large part of their income to pay down credit card debt and education loans, such that they have little discretionary disposable income to spend on goods and services, the economy will contract and companies will lay off workers.

Unemployed people have less money to spend further reducing demand for goods and services, leading to more lost jobs, ad nauseum.

The process starts with exporting jobs followed by large scale layoffs which then leads to a trade deficit in which money spent on goods and services leaves the country, which leads to a large trade deficit paid for by borrowing money, etc., etc.

The stock market has become little more than a giant Ponzi scheme designed to separate the 99 percent from their money.

The "global economy" is headed, not for a recession, but a "global depression" guaranteed to occur if governments are hamstrung by the passage of the TPP and its European cousin.

PS: If the "global economy" collapses, the 1 percent winds up with all of the global assets and control of the worlds economic activity. It is the conclusion to the game called Monopoly.