Toilet paper? Really? It’s being hoarded again because of the longshoremen’s strike. TP does not come from overseas, people. It’s manufactured here in the U.S.A. We still cut down American forests to make it. Imported cheese and champagne - well, you’ll have to tough that out. Unless you want to try (gasp!) cheese from Vermont and Wisconsin and bubbly from California.
@johnldeboer The US is a major net importer of toilet paper.
https://oec.world/en/profile/hs/toilet-paper
@Coctaanatis Hmm. More than 90% of TP consumption in this country is from product made in this country, so there seems to be a contradiction in that stat.
@johnldeboer "About 85% of U.S. tissue paper demand, including toilet paper, paper towels, napkins and facial tissue, is supplied by U.S. tissue producers, according to a statement from the American Forest & Paper Association..."
https://www.cbsnews.com/news/toilet-paper-port-strike-2024-panic-buying-shortage/
That leaves a 15% shortfall for a product with a low elasticity of demand.
I don't think the strike would have resulted in a serious cutoff of imported toilet paper (Canada is our biggest foreign supplier) but we don't produce all we consume.
@Coctaanatis It’s panic buying/hoarding, creating a problem where there wouldn’t be one. We don’t get our TP from France, for Pete’s sake. It’s an example of H.L. Mencken’s words: “No one ever went broke underestimating the intelligence of the American public.” Sheesh.
@johnldeboer It's panic buying, but panic buying based on experience. (Also, there's profiteering.) There's no effective mechanism to prevent shortages and those who don't buy early often end up without. Reminder the toilet paper shortages during the pandemic?
At an individual level, panic buying and hoarding are a rational response. That's why basic items such as milk, bread, toilet paper and diapers often disappear from store shelves before a major storm.
@Coctaanatis @johnldeboer there IS a mechanism to prevent hoarding.
It's price gouging.
@SECRET_ASIAN_MAN When you panic and think there won’t be any for you if you don’t stock up now, you’ll pay the inflated price. Egg prices are rising because of chicken flu, they say, and butter is on the rise (What, is there a cow flu?). If a rumor started that the supplies of eggs and butter will be running out, folks will pay 10 bucks each for dozens of eggs they don’t need and multiple pounds of butter @ 10 bucks a pound. At least the butter can be frozen.