I do remember the tp shortage.
Not the Johnny Carson part though.
Because of the “oil crisis” and gasoline availability, and also Nixon’s wage and price controls, I do remember folks being very sensitized to shortages.
Now that we have the internet, social media, etc, this mentality will run wild when shortages do begin creeping in as the inevitable economic implosion approaches.
A lot of those folks went through the rationing of WW2 and were easily re-sensitized. My parents were among them. Mom would always have safety stock stored ahead just in case something disrupted her ability to replenish the staples; Usually a lake effect snow storm that could immobilize you for a week to 10 days.