When you say "let the natural cycles take hold," do you mean in the way Western governments used to before the Great Depression, say during the 19th and early 20th centuries? Do you realize how horrific the panics of 1818-19, 1825, 1837, 1847, 1857, 1866, 1869, 1873, 1884, 1893, 1896, 1907, 1914 were, in both the US and Europe? And after all those horrific panics, the old systems led to the Great Depression, 1929-1939. Is that what you mean?

To the extent economists today recommend propping things up, it's only because they believe the alternatives are much worse. Judging by the historical record, I'd say they're right to focus on minimizing damage, akin to doctors with their Hippocratic oath.