The Goldilocks Economy: 67-Month Expansion

According to the National Bureau of Economic Research, the average length of an economic expansion since WWII is 57 months. The current economic expansion that started in December 2001 is now in its 67th month, and still going strong (see graph above).

According to today's WSJ: "The job market's solid performance in June, along with recent signs of vigor in manufacturing and a buoyant stock market, suggest the U.S. economy is entering the second half with considerable steam despite nervousness on Wall Street about cracks in the credit markets and woes in housing.

In short, the U.S. economy seems to be enjoying a Goldilocks moment -- not too hot, not too cold."