Except automation started replacing more jobs then it created at the end of the 90s.
I wrote a piece of automation software that put 10,000+ people out of work in a year. Most the people where office workers approving loans. Most where 35+.
What, exactly did they go off and create? What new jobs were created? Office around the country were closed, so what happened ti the urtiary markets? Oh, it fell apart and never recovered.
You're examples are from a industrial age where there where a lot of open and variable resources, no global logistics, and mostly lead to MORE people being unemployed then employed based on volume of work.
Average income is dropping, but GDP is rising.
your example requires that an increase in consumerism to hold out, but that can not happen with income droppin, and debt climbing.