[konaice]

Irrational price spikes are part of a supply shock.

Irrational price spikes are also the free market's way of stopping panic buying in its tracks.

Everyone considders it gouging and gets all p*ssed off, without reflecting on their actual participation in the event as a contributing factor.

[frgoff]

Exactly. When you hear price gouging, the translation is:

I want to hoard, but it costs too much.