We are well into a depression. Some of us got there by design, others by recklessness. Some are still resisting, but the debts are too large for there not to be extensive disruption in many markets, currently looking bomb-proof.
Allowing the over-committed to fail will eventually allow those who have the fittest business model to do very well until the new technology comes along. Having massive exposure to creditors may still pay off but will require massively fancy footwork worthy of a merchant banker!
Paying off debts has to be a very savvy business model as does waiting while comptetitors buy up others' assets and destroy themselves by overcapitalizing.
Niche markets make sense as long as your niche is doing well!