We construct a simple analytic model for wall-bounded turbulence, containing only four adjustable parameters. Two of these parameters are responsible for the viscous dissipation of the components of the Reynolds stress tensor. The other two parameters control the nonlinear relaxation of these objects. The model offers an analytic description of the profiles of the mean velocity and the correlation functions of velocity fluctuations in the entire boundary region, from the viscous sublayer, through the buffer layer, and further into the log-law turbulent region. In particular, the model predicts a very simple distribution of the turbulent kinetic energy in the log-law region between the velocity components: the streamwise component contains a half of the total energy whereas the wall-normal and cross-stream components contain a quarter each. In addition, the model predicts a very simple relation between the von Kármán slope κ and the turbulent velocity in the log-law region v+ (in wall units): v+=6κ. These predictions are in excellent agreement with direct numerical simulation data and with recent laboratory experiments.