Quote 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.

We had a booming stock market in 1929 and then went into the

Summary

This quote emphasizes the parallels between the stock market boom of 1929 and the one that occurred in 1999. It questions whether history may repeat itself with a subsequent burst of the market "bubble" leading to another severe economic downturn akin to the Great Depression. By asserting that "some things are not different," it suggests that underlying factors and patterns in the economy and market behavior may still hold true despite the passage of time, hinting at a potential cautionary note for those who place blind faith in market booms.

By Jeffrey Sachs

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