Arthur Chrenkoff on one of the oddest features of the current infectious disease panic:

“sold out of bottled water?” by Klara Kim is licensed under CC BY-NC-SA 2.0

This is happening alright, and it’s not some isolated incidents; on my Facebook news feed, at least half a dozen posts from friends in Sydney and Brisbane display photos of Venezuela-style empty shelves at their local supermarkets. The fear is real, and so is the hoarding.

OK, I can understand face masks and hand sanitisers walking off the shelves, as these are the crucial tools in containing the spread of the pandemic. Most face masks – as with so many other products in our shops – are made in China and in the current crisis conditions any new and additional supplies won’t make it out of the country, so whatever is already here is it. And it isn’t, as masks have been the first item to disappear from retail outlets from your local pharmacy to a Bunnings store.

I can also understand the non-perishable food supplies. Even though Australia could be quite self-sufficient if need be (minus the out of season imported fruit and veg), possibly people are stocking up not so much in fear the food will run out but out of reluctance to go out in the public in a few weeks’ time should the situation really turn into a zombie apocalypse. In any case, there is nothing wrong with having a well stocked pantry.

Where I start to no longer understand the consumers is bottled water. We are fortunate to live in a developed country where one can safely drink from a tap. There won’t be shortages of drinkable water under any circumstances – except for a complete societal collapse – and coronavirus is not a water-borne pathogen like those causing cholera or typhoid. If you are still paranoid, you can boil your water before ingesting (just make sure you cool it down).

But it’s the toilet paper that really gets me. Trust me, if things go really belly up, toilet paper is the least of your worries. Humanity has survived for tens of millennia without sanitary tissues, and in their absence any paper or rag or even running water will substitute nicely. Food, water, medicines, electricity, to name just four, are much more crucial in a time of crisis or emergency. Again, it’s true that a lot of toilet paper is manufactured in China or generally overseas and so potentially susceptible to shortages if manufacturing and international transport are affected as they are already. But how much toilet paper does your household require to function? Are you expecting you might need the iron rations of your favourite rolls to last for at least a few months? And if you think that you might not be able to restock on toilet paper until later this year, then – let me repeat myself – don’t you think you will have much bigger problems with ensuring your continuing survival to worry about?

As Norman Lewis points out, the worst hysterics are among the “elites”, not us lumpenproles:

Last week, the world stock markets suffered their worst week since the financial crisis in 2008, with $6 trillion wiped from shares and, in some markets, a sell-off at a rate not seen since the Great Depression almost a century ago. Why? Because global investors are in a panic about the potential economic fallout from the coronavirus epidemic.

Many commentators are making the point that this is mad. Ross Clark argues convincingly in the Spectator that the “most dangerous thing about coronavirus is the hysteria”. Philip Aldrick, economics editor of The Times, agrees. He says it is the “panic we should fear more than the virus itself”.

Our appetite for doom and fear of the unknown are offered as explanations for this behaviour. Risk culture and a predisposition to overreacting to threats are also certainly components of what is happening. But there is another equally important element linked to these that is not being raised – that this madness is not being driven by the “low-information”, knuckle-dragging, gullible ignorant masses, but by the information-rich, university-educated and refined global business and government elites.

The contrast between the responses to coronavirus from the elites and ordinary people has been stark. Even as the level of panic in the mainstream reporting around coronavirus has risen, ordinary people have just gotten on with their lives. The supposedly well-informed elites, who often accuse the “dumb” masses of being vulnerable to hysteria and “fake news”, have themselves been prodded into panic. Meanwhile, where they are not in lockdowns, ordinary people are still going to work, commuting, going to bars … They’re simply getting on with their lives, while taking note of the potential risks.

The elites are in free-falling panic; like a herd of wildebeest, panicked by the sight of a predator and rushing blindly across crocodile-infested waters, they have sparked a potential global economic meltdown. Meanwhile, we see stoic common sense, simple but profound wisdom, on the part of the “great unwashed”.