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Well it's despicable because of the consequences. In a localized market, people adjusted their risk by stocking up toilet paper, canned goods, etc. Those who c

Well it's despicable because of the consequences. In a localized market, people adjusted their risk by stocking up toilet paper, canned goods, etc. Those who couldn't afford it, or came too late, were left with nothing. In a globalized market those who have access to free money can hoard as much of it as they want. As a consequence it spreads like a disease. You may say, in the case of the USA: "well, I guess that's the perks of being in control of the standard currency for global transactions, the rest just has to deal with it" -> this won't end up well for anyone.

JumpCrisscross 4y ago
> in a globalized market is despicable simply because those who have access to free money can hoard as much of it as they want Billionaires hoarding toilet paper isn't a problem. It's everyday folk. Same for practically any other thing where hoarding is blamed. When we're calling the dispersed response of hundreds of millions of people despicable, it's the system--not people--that is broken.
- libertine 4y ago
  Not toilet paper, but micro processors, production lines, raw materials, for example. How do you tackle this? Like I said in my original comment - will we have to resort to quotas?
  - JumpCrisscross 4y ago
    > Not toilet paper, but micro processors, production lines, raw materials, for example Who is hoarding processors? The predominant driver of the current shortage is the auto industry pulling orders in the early pandemic and then raging back into gear. The only people stockpiling are groups like Huawei, and they aren't "hoarding" nearly enough to influence global prices. Broadly speaking, when a politician blames hoarding, it's a dead giveaway for deflecting from a systemic issue. The culprit is usually price gouging laws, which discourage holding emergency reserves. In this case, it was just a global supply chain system stressed by demand dynamism and stimulus spending.

JumpCrisscross 4y ago

> in a globalized market is despicable simply because those who have access to free money can hoard as much of it as they want Billionaires hoarding toilet paper isn't a problem. It's everyday folk. Same for practically any other thing where hoarding is blamed. When we're calling the dispersed response of hundreds of millions of people despicable, it's the system--not people--that is broken.

libertine 4y ago
Not toilet paper, but micro processors, production lines, raw materials, for example. How do you tackle this? Like I said in my original comment - will we have to resort to quotas?
- JumpCrisscross 4y ago
  > Not toilet paper, but micro processors, production lines, raw materials, for example Who is hoarding processors? The predominant driver of the current shortage is the auto industry pulling orders in the early pandemic and then raging back into gear. The only people stockpiling are groups like Huawei, and they aren't "hoarding" nearly enough to influence global prices. Broadly speaking, when a politician blames hoarding, it's a dead giveaway for deflecting from a systemic issue. The culprit is usually price gouging laws, which discourage holding emergency reserves. In this case, it was just a global supply chain system stressed by demand dynamism and stimulus spending.