News hysteria created feedback loops that drove a lot of shortages. At first, people are stocking up more than they would before because things are weird. Similar to a hurricane or blizzard. The news started reporting shelves were EMPTY and you probably are never going to get toilet paper again. People start panic buying because they’re scared. Or because they think they can take advantage of the situation and make money. This drives more news stories about shortages which drives even more fear and panic buying.
Probably Covid related supply chain issues factor in as well. I’m somewhat skeptical it was the main driver since the problem seemed to go away as soon as the grocery store started limiting how much an individual could buy.
News hysteria created feedback loops that drove a lot of shortages. At first, people are stocking up more than they would before because things are weird. Similar to a hurricane or blizzard. The news started reporting shelves were EMPTY and you probably are never going to get toilet paper again. People start panic buying because they’re scared. Or because they think they can take advantage of the situation and make money. This drives more news stories about shortages which drives even more fear and panic buying.
Probably Covid related supply chain issues factor in as well. I’m somewhat skeptical it was the main driver since the problem seemed to go away as soon as the grocery store started limiting how much an individual could buy.