It's not that we've never seen 1.75% before, but once we hit 1.75% this time, we will stay there (or go lower) for quite some time.
Europe has a bigger problem: addicted to negative rates. See link here to The WSJ.
For five years, European nations have been trying to jump-start their ailing economies with what was supposed to be a radical, short-term remedy—negative interest rates.
Instead, central banks haven’t been able to wean their economies off them. Increasingly, they appear to be a permanent feature of the landscape. No major bank that introduced negative rates during Europe’s debt crisis has turned main policy rates positive again.
“Overall, we are on a painkiller,” said Tamaz Georgadze, chief executive of Raisin GmbH in Berlin, which provides a platform for consumers and businesses to deposit through 77 banks in 25 countries, “and it’s very hard to get off it.”
Negative rates reverse normal lending costs. Commercial banks must pay to keep their money in central banks, rather than collecting interest on it. That means they should have an incentive to lend their money at low cost to other banks, businesses and consumers while charging some customers to deposit cash. In theory, that encourages people to borrow more, spend more and save less—stimulating the economy until negative rates aren’t needed.
The Foodie Page
First beer can chicken of the summer.
I am absolutely convinced it's impossible to "screw up" beer can chicken. Wow, first beer can chicken of the summer turned out absolutely perfect. Sixty minutes on the grill. Perhaps, 55 minutes, maybe 50 minutes would have been slightly -- imperceptibly -- better.
The rub I used tonight: Weber Original Dry Rub: $8.99 on line; $4.99 at the local grocery store. I used to make my own rubs, but not worth the time, effort, and expense. So many from which to choose.
- pat dry the chicken
- liberal brushing with vegetable oil
- liberal rub
- truss: wrap twine around the legs, then around the body of the chicken, and end with the wings
- place chicken cavity over 3/4 - 1/2 full beer can -- 12-oz or 16-oz (I used 16-oz tonight simply because it was the least expensive option at store)
- set up grill as above
- 60 minutes (Weber grill covered of course)