Looks like people refuse to learn from experience. The article states that savings in the U.S. are at their lowest since the Great Depression while UK savings are also dropping. The last time we saw this was n 2007 and we all know what happened then. The difference this time is I'm not sure either country's government can bail us out again with an economic stimulus package.
I sincerely wish people would save a little money each month just to have something set aside for an emergency. The middle class is already disappearing and another economic recession would virtually guarantee a rich and poor class.