THE TOP 1% (AKA "THE PRODUCERS") RECOVERED FROM THE GREAT RECESSION..

in 2011 but that has done little for the rest of is:

Americans Have a Hard Time Covering Emergency Expenses
By Rani Molla
WSJ

A recent Federal Reserve Board report aimed to paint a picture of American household finances following the recession—and it’s bleak, especially in situations that require cash.

That’s likely because Americans have little savings: 57% of those who had savings prior to 2008 said they used up some or all of it following the recession, according to the report. (A recent report by bankrate.com showed that 1 in 4 had no savings at all.) Declining savings makes emergency expenses more difficult to cover.

According to the survey, only 48% of respondents would be able to cover an emergency expense of $400 without having to sell something or borrow. About 43% said they wouldn’t be able to afford a major medical expense out of pocket.