Shankar Vedantam of NPR reports, citing the research, that 19% of Americans believe the U.S. government was behind the 9/11 terrorist attacks, 25% believe the 2007 financial crisis was caused by the small cabal of Wall Street bankers, and 11% of people believe the government “is mandating a switch to compact florescent light bulbs because the light bulbs make people obedient and easy to control.”
Americans are showing more tolerance for a range of behaviors, with sex between unmarried adults, medical research on stem cells from human embryos, and doctor-assisted suicide all showing record highs and increases in “moral acceptability” from last year.
It took the Fed long enough but finally even it succumbed to the reality of surging food prices when, as we reported previously, it hiked cafeteria prices at ground zero: the cafeteria of the Chicago Fed, stating that “prices continue to rise between 3% and 33%.” So with input costs rising across the board not just for the Fed, but certainly for food manufacturers everywhere, it was only a matter of time before the latter also oo threw in the towel and followed in the Fed’s footsteps. Which is what happened earlier today when J.M. Smucker Co. said it raised the prices on most of its coffee products by an average of 9% to reflect higher green-coffee costs.