Just to clarify, I am talking about Great Depression of 20th century and trying to draw parallels between that and crisis of 2008-now.

Point I am trying to make is that austerity isn't necessary best policy in crisis situation, and that by 2007 bailouts were all but inevitable with alternative of having Great Depression II and 50%+ unemployment and complete lights-off @ banking system.

I also disagree with you labeling any stimulus as Keynesian, I think you are stretching that term past its breaking point.

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