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Here’s how we solve the self-fulfilling panics that cause bank runs: 1. The FDIC insures your money, so even if everyone else is running to the bank, you don’t have to try to beat them. 2. Lender of last resort: The Fed lends to banks facing these runs, so they can keep operating
All of this says that what we need right now is a government-backed Strategic Toilet Paper Reserve. That Reserve makes a promise that even if your local Costco an out, you still have the right to buy 2 rolls per week from the government’s stockpile.
The Strategic Toilet Paper Reserve removes the incentive to stockpile. It ensures that even if you see others running to the store to stockpile toilet paper, you no longer need to try to run to beat them. You can relax, knowing that you’ll still be able to wipe your bum.pic.twitter.com/iDYynXd25X
So the economics of bank runs really is the same as the economics of toilet paper shortages. Both point to problems with unfettered markets. And both have problems that can be solved with clever government regulation. The only difference is what’s on the paper.pic.twitter.com/7FttR6ynwx
So, ummmm... that’s the economics of deposit insurance. 
#sorry #notsorry ( Credit for the eco-pun: @ProfMKavanagh)
Career highlight: The BBC had me on for ten minutes discussing the urgency of a Strategic Toilet Paper Reserve. (Click through: Starts at 16 minute point.)https://www.bbc.co.uk/sounds/play/w172wmxchdfb9x8 …
Think of the moral hazard, Justin.
That’s 2 rolls per capita, right? If not, I really need to introduce you to my kids...
The other fix for this is to encourage everyone to have a (small) stockpile at all times. People add to their backup pile at different times, so the supplies are replenished w/o shock to the system & it doesn't trigger a run on the stores.
LDS & prepper dorks
are on it already
We have a strategic toilet paper reserve. It's called @newscorp
2 rolls per week?! That ain't gonna do it at our house.
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, & you don’t want to be the left paperless. So you stockpile to avoid being shut out by others.
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The whole mess is created by fear, but the reality of toilet paper shortages means that fear is rational.
