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I think the panic is over for now because there is nothing left to buy.
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While that'll slow things down a bit, the panic is far from over.
Retailers will start getting new product over the next couple of weeks. Then a new bill will get announced, and there will be another panic, and another shortage.
After that? Income tax checks start coming in, and folks have free cash. At that point, they might be accustomed to higher prices, so they go on a buying spree. Yet another shortage.
I predict a long and trying year, both for retailers and the buying public.