Kinda, but it really came as a statement from a Congressman that "next we will have to worry about toilet paper shortage" when that was not really true, it got picked up and Johnny Carson included it in a monologue .. and it spiraled from there.
The interesting part, that applies today is
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And there is no shortage today … but there is another panic.
"When there's uncertainty in the world, people would like to eliminate some of that uncertainty," said Boston University economics professor Jay Zagorsky, who said it is rooted in something called "zero risk bias."
"Buying toilet paper ensures that at least one act in their life is completely taken care of," Zagorsky said.
"It gives us some degree of reassurance?" asked Rocca.
"Reassurance, certainty. You might run out of something else, but at least you have one of the staples that makes most people feel better."