A functioning society needs money to circulate. Earning more than you need and hording it is bad for everyone.
If people "hoard" money, demand decreases, and prices fall. As prices fall, the "hoarders", one-by-one, decide that a "deal" can be had, and buy. This slows the decline of prices until equilibrium is attained.
If you are arguing that growth slows if people don't buy, I'll somewhat agree, but I'll exchange a few points of growth for more meaningful growth, e.g. McDonalds toys, DVDs, cigarettes, thousand-dollar purses, etc. VS investment in efficient manufacturing techniques, sustainability, etc.
Suggesting that the economy must operate on deficit spending like the government and many households is irresponsible. China manages to pull off growth and a trade surplus.
This was somewhat disjointed, sorry. No time to edit; back to work.
Little known fact about Middle Earth: The Hobbits had a very sophisticated computer network! It was a Tolkien Ring...