I have seen a few of these with similar story lines and realized we are living it right now. They have the best healthcare, the best food, the best everything and most of us are a few dollars from disaster. That scares some of us to death literally from all the stress it causes.
Folks aren’t even able to get out of debt. Considering debt generally has a higher interest rate than savings, folks are even held back from saving. OP even mentioned that straight out. If you’re a disaster away from destitution, you aren’t investing money. Money years from now isn’t worth more than money today when your bills are due today.
Increasing consumer debt was a policy decision in the 1930 and ever since, to control powerful Labour organisations. An indebted worker is less likely to strike.
Same today for students. Bright optimistic minds out of college are less likely to say ‘hey, there s a better way’ if they are weighed down with debt. .
Totally, debt stifles saving. All rich people are alike; each poor person is poor in their own way, or something.