I think we'll have another recession in a number of years, but it will depend on when (and how quickly) energy prices go up again in the U.S. It's hard to see any such trouble for at least 2 or 3 years, perhaps longer, barring some event. And I am not convinced it will be some catastrophic collapse, either. The catastrophic collapse will come when when the demand for affordable energy exceeds the supply, assuming technology and conservation do not contribute much. Even then, I see things moving in cycles of inflation (when fuel prices are low) and deflation (when fuel prices are high) for awhile longer. That's because higher energy prices make some development projects realistic and it takes time to bring their production online; when it comes online, then there is a period again where affordable energy is available for a bit longer.
This thing could play out for 5 or 10 years, even longer. If there is a collapse, it probably will come in phases, where the trend sometimes appears to be going in the opposite direction (seesawing), but those are just growing pains as the economy adjusts to new economic realities. At the end of the day, commodities, real goods, and tangible assets will have value. The derivatives and instruments (and any other fluffy BS tools Wall Street uses to make money) will have a lot less value because they add little to the economy.