So curious because the coronavirus is going to cause both supply and demand shocks—(former is something we are not used to.) One question for economists is whether some portions of increased demand offsets the collapsed demand. If it's all for non-perishables, probably not, no?
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Let me put it this way. Restaurants etc. lose out but cleaning products and protective gear demand goes up. But cleaning products probably aren't consumed that much more, just hoarded. What's the win/lose ratio in the demand shift? (I don't know! Economists must be calculating!)
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And then there's the supply shock. There will be stuff that just isn't produced because of the shutdowns in China—and later, that will happen elsewhere. How much of that will be demand that's time-shifted, or just won't happen? Much of our consumption is optional. Big questions.
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PLEASE STOP sending me instruction on hand-made wipes. I bought my personal supplies the first week of January because I knew this was coming as soon as news of a novel coronavirus from a seafood market in China came out. I wrote articles on how to prepare. I'm good, thanks! Gee.
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I'm trying to think if we have a modern equivalent to a supply shock of this magnitude that went along with a demand shock/shift of this size? (Post WWII). Stuff like the Taiwan earthquake were instructive for bottlenecks but this is that plus much wider.
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Folks I’m a third-worlder at heart and I don’t trust a thing. I never wave my hand to stop elevator doors because I don’t trust it. I used to teach sociology of pandemics. I recommend only a couple weeks of supplies—mostly to slow infections to elderly and relieve hospital load.
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There will be impacts from this pandemic but we shouldn’t need years worth of cleaning supplies per house! Lessening the need to shop for a bit is great. Slows spread. That’s all. Totality of my own pandemic upgrade has been switching to pour-over coffee at home! (Fewer outings!)
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Replying to @zeynep
I just bit the bullet and ordered the awesome espresso machine for home. I shall not be without lattes in trying times.
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You might have to shift to those disgusting little creamers, hate to say.
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Replying to @DccaDance
Jesus, Desi, it's not the apocalypse. I HAVE MY STANDARDS!
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Seriously! Also the cartons last a long time! I have a few in my fridge, I will trade them never.
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