But I do remember grocery stores being completely cleared of t-paper and other essential items during Carter's Presidency. I don't recall the exact details of what triggered it, there wasn't an actual shortage of materials, but the malaise attitude Carter engendered created real panic on the heels of the gas crisis.
As I recall, products were not being transported in a timely fashion, because of the fuel shortage. As retail stores ran low on products, people panicked and cleared the shelves.