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According to Chossudocsky the emergence of luxury consumption after the 1980s temporarily buggered a worldwide recession?

According to Chossudocsky the emergence of luxury consumption after the 1980s temporarily buggered a worldwide recession?
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Chossudocsky is an Economist who is popular as a conspiracy theorist. According to him, there could be world wide depression in 1980's but it was buggered by emergence of luxury consumption. after 1980's there was a world wide change in people's life style. They started consuming too many luxury goods. They started running after affluent standards of living. It led to increase in AD and Economy got saved from getting into depression.

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