We're going to have to forgive a great deal of the Soviet era debt. There's no question about that. Let's face up to that. We're going to have to put in money if Russia is really going to consolidate a democracy.

If we did go into a recession, something that's always possible for the U.S. or Europe, we could lower interest rates and expand the money supply without worrying about the price of gold.

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 Quotes