Citi's Broadlines Hourglass Theory

This one appears to be a very valid (and not only for the US) guide by Citigroup:

We believe that the Broadlines Hourglass theory could be re-emerging with the bifurcation of the consumer. The Broadlines Hourglass theory suggests that the best-positioned retailers are at either the top or bottom of the hourglass, while the retailers in the middle could get squeezed.

Click on picture for better view, courtesy of Citigroup.

Imagine a picture, where wealthy are benefiting from asset reflation and spend fruits of God's manna from heaven at Neiman Marcus, Saks, Nordstrom, Bloomingdale's and alike. Middle class pays off debts and re-capitalizes banks (including Citigroup), while shops at Wal-mart ... and unemployed are striving for Food Stamps?

Sick imagination...

P.S. I am not sure about Drugstores being squeezed, except from excess ...