I don't have the big diesel truck, I don't have the fancy smartphone with the big data plan, I don't have the 50" TV with subs to all the streams.
I do have the emergency fund.
People made their own choices what they were going to use their money for.
The ones who are "out of touch" are the ones that thought they could keep spending at or beyond their means and think that nothing bad would happen.
You forgot the biggie -
debt.
Also, job dependency and premature consumerism.
People have been so brainwashed into getting a job, a car loan, a mortgage and a credit card that it's no wonder they have no savings.
Smart people save before spending.