Quotation by

Jeffrey Sachs

We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different.

Jeffrey Sachs

Finance

Understanding this quote AI Analysis

Jeffrey Sachs is pointing out that a strong stock market does not guarantee economic stability, as seen in 1929 when a market boom was followed by a severe depression. He suggests that despite the optimism in 1999, there is a risk the market could collapse again, leading to another economic downturn.

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