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WWII was the biggest government spending program in the history of the world.
Right, and it can be argued that WWII was, to a degree, caused by the Great Depression. But without WWII, the Depression would have lingered on and on... In economic terms, WWII was a salvation for the economics of the world.
I agree (somewhat). Bailouts are never a long-term solution, but they can be effective in the short term. It would be a disaster if the entire banking industry went under, and no one did anything to stop it. After the economy recovers a little, if there are still individual banks that are too weak to make it on their own, I absolutely agree they should be allowed to go under
I don't think that we should just let industries completely collapse, and I should have stated that better. I agree, help where needed initially, in order to maintain the structure, then allow the markets/industries time to heal themselves. Weaker sections or companies can go under, etc, as long as the foundation of the market is secure.