Well, you said hoarding money was part of what caused the recession. I'd like you to specify if you know anything about that. If you were rich, how would you "hoard" money?
I'd get liquid & stay that way until things change, until demand provides me with a reason to risk in any investment vehicle beyond cash & govt bonds. I'd do the same wrt corporate entities I can influence or control.
Of course, when wealth is extremely concentrated, like today, not a whole lot of Americans need to do that to prevent demand from picking up, at all. They're essentially demanding "you first" from people who are deleveraging as a matter of necessity, paying off underwater mortgages, paying down debt, or going broke for lack of employment. The only way that demand will increase is either very slowly over time, as deleveraging occurs, or as wealth holders are caused to dis-save either through taxation, inflation, or negative real interest rates in a depressed economy. Increasing the money supply, as the Fed has done, is of limited effectiveness because it just gets soaked up as savings.
Cutting govt spending & raising interest rates simply causes them to save more because of ever decreasing demand, and the act of doing so further starves the economy of liquidity. It's the essence of Depression.