Consumption expenditures accelerated to give us a 3.2% growth rate in real GDP for 2010I. Here's the ugly truth - certain parts of the economy don't really need the bottom 10%. Outrageous compensation increases for the upper upper income group and humongous tax cuts during Bush's reign has set up the upper middle class and higher to carry the consumer spending baton.
What does need the bottom 10% is Social Security and government spending in general. Collecting unemployment instead of paying taxes, especially payroll taxes is killing local governments along with Washington D.C. and bringing down Social Security and Medicare.
Meanwhile the higher income groups will pick up real estate on the cheap and sell it at much higher prices at the next go around to those entering the housing market. This will take a while, because it looks like homeowner wanabees will actually have to document a sufficient income this time to afford the house. Assuming of course that we haven't forgotten 2007/2008 by then.