every little thing you think that you need every little thing you think that you need every little thing that you feed in your greed or I bet that you'll be fine without it

I'm Ryan Nicodemus and together we are the minimalist Ryan have you noticed a lot of empty shelves at stores recently

yeah the first snowflake hits the ground well not here in LA but other places I saw meme about it like yeah the first

snowflake hits the ground and all of a sudden there's no bread and milk or eggs yeah I think of a snowflake hit the ground

in Los Angeles to be pure panic right yeah well not only are there supply chain issues but there seems to be a whole lot of panic

buying going on today on the public podcast Ryan and I are talking about the psychology behind all this panic buying then this Thursday on the minimalist private

podcast we're going to discuss how minimalists can prepare for emergencies for pandemics for supply chain shortages and for financial shock events without hoarding

I think that's the key you can check that out at patreon.com slash the minimalist your support keeps our podcast and YouTube channel 100% advertisement free because

advertisement suck all right a first question today is from Mira on Facebook what causes panic buying in the first place I think we have to talk about what panic

buying is so I think quite often right now especially times like this we see a bunch of empty shelves or when COVID first started oh my goodness remember you and I did this episode with TK Coleman

and we got really frustrated there was a guy who was like stealing or not stealing but like buying up all the hand sanitizer paper towels like reselling them at I know 1800% markup or something absurd like yeah making up the number but yeah I think Amazon got

a suit over it actually for letting people do that oh wow yeah and so that's one type of panic buying but I would like to extend panic buying I think

people panic by whenever there is a sort of perceived loss yeah whenever they feel as though they might be missing out so it's

so it's FOMO the fear of missing out and what do we do so anytime someone creates a false shortage of something or real shortage

creates a faux urgency we see this you and I used to be in the sales world and quite often by our bosses and by the

corporation itself we were encouraged to create a false sense of urgency to get someone to act now to buy now yeah and that's a sort of low

grade panic by I tell you what if you go ahead and buy this today I'll wave your activation fee yeah if you go ahead and buy this

today I will wave the points on the loan or whatever it might be it'll cost you $500 less if I can get you in this car

right now and it creates that sense of scarcity that oh no I'm going to lose something if I don't act now and so what does that do panicking is never rational right no one panics

rationally right in fact you can't panic rashly panic is always an irrational response to some sort of stimuli in this case it's a

shortage or a perceived shortage yeah so we feel as though oh no if I don't buy this now then I may never have access to it when I need it yeah let's

interesting man I remember the trader Joe's near our place when the pandemic happened yeah like the shelves just like probably all the grocery

...