In practical terms, you should recognize that this feeling is fear and it is in fact a feeling, and you can choose to own it rather than let it own you. Stay away from the particular enterprises that everyone says are about to collapse, and double-down on whatever assets nobody is paying attention to. Life goes on, and people have to do something, so own the things that people will be interested in over the next few years. It's all a bubble, just do your best to ride it.
There were a few asset classes that were clearly looming bubbles in 2008: housing, CDOs, most hedge funds, Web 2.0 startups. If you were invested in them at the beginning of the year you probably lost your shirt. Meanwhile, if you invested in Bitcoin or mobile or sharing economy startups in 2009, you're likely a millionaire several times over. Housing itself started to become an attractive investment once the crash was over in 2010, with many landlords making 10%+ returns annually since then.