The business cycle: Puncture ahead.(US economic growth bound to stall or crash)(Brief Article)

From: The Economist (US) | Date: December 5, 1998 | Copyright information

America's economic expansion is now its longest ever in peacetime

EXPANSIONS do not die of old age; they are typically murdered by policymakers' mistakes. Even so, America's current expansion is looking decidedly long in the tooth. The economy has just entered its 93rd month of uninterrupted growth since the trough of the recession in March 1991. This beats the previous longest peacetime expansion in 1982-90; although not yet the record set in the 1960s, when growth was prolonged by defence spending during the Vietnam war. Most economists (and, it would seem, Wall Street ...

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