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It's a self-fulfilling prophecy. People were too stupid to realize that there is/was no shortage of anything necessary to survive. So instead they panicked about the virus, hoarded items (which other people saw), created a shortage, and now we have a halfway panic going.
On the plus side, there is only so much that people can hoard. Unless this is going to kickstart the real estate market and people will be forced to buy bigger homes to make room for their mountains of toilet paper.
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