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Transcripts for BBCNEWS BBC News 20210924 16:38:00

see shortages in the future. on the other hand, mejoining the line made it much longer, the person coming along next would see and think they would have a shortage in future full of from a collective perspective, this can be truly damaging, and what we know of course is that if you get a period of panic buying, even if it is not stimulated by supply shortages, it can lead to demand shortages. this is worse if their genuine supply shortages, because of for example a lack of drivers, which might be attributable to or the pandemic and so on. it might be attributable to or the pandemic and so on. might be attributable to or the pandemic and so on. it all becomes a self fulfilling pandemic and so on. it all becomes a self fulfilling prophecy, pandemic and so on. it all becomes a self fulfilling prophecy, innocence, i self fulfilling prophecy, innocence, and i suppose once it starts, whether it is rational or not, it is quite hard for the authorities to stop, to calm people down. yeah,

Transcripts for BBCNEWS BBC News 20210924 16:33:00

and ibf are on the line. red bull s max verstappen will start sunday s russian grand prix from the back of the grid as a result of a penalty for using too many engines this season. in second practice today, it was a mercedes one two with valtteri bottas finishing quickest, just ahead of his team mate lewis hamilton. verstappen s grid penalty gives hamilton and mercedes a golden opportunity to gain ground in the championship the dutchman is five points ahead of hamilton heading into this weekend. the liverpool managerjurgen klopp says now is a good moment to consider bringing in safe standing at stadiums. premier league and championship clubs can now apply to pilot safe standing areas from january next year, and klopp says he would welcome it. the stadiums are completely different to the time when these really sad, sad things happened,

Transcripts for BBCNEWS BBC News 20210924 16:37:00

ignore that. the first thing to bear in mind is panic buying ignore that. the first thing to bear in mind is panic buying is - ignore that. the first thing to bear in mind is panic buying is not - ignore that. the first thing to bear in mind is panic buying is not a i in mind is panic buying is not a completely irrational activity at all. if you look at it from the individual perspective, it is quite rational. when they see resources are depleted. if you think resources are depleted. if you think resources are about to be scarce, what it makes sense to do if you can is to hoard those resources for a time when they will not be available. and the problem is that what is rational at the individual level is madness, if i can put it like that, at a collective level, so to give you a kind of vignette, and this afternoon i was driving home and i passed a petrol station. there was a long line of vehicles. i looked at my fuel indicator, realised i had got very little left, ordinarily, i would

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