In this quote, Fitzgerald describes the Roaring 20's as something "gaudy." This refers to something that is flashy, over-the-top and elaborate. It has a slightly negative connotation that points to bad taste. He also describes this period as the "greatest spree." A spree is a time of extreme activity in which a person acts the way he wants to act without thinking of the consequences.
This quote show how Fitzgerald thought about this time period. It is clear that he believes it to have been extremely superficial. He also seems to emphasize the idea of extreme luxury and selfishness. His description is not an admiring one, but instead carries a tone of judgement. From the quote, we can tell that Fitzgerald did not believe this to be good. He links this excess to the trauma and limitations that people had experienced prior to 1919 due to WWI.
