{"id":92263,"date":"2026-05-13T08:57:33","date_gmt":"2026-05-13T07:57:33","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=92263"},"modified":"2026-05-13T08:57:33","modified_gmt":"2026-05-13T07:57:33","slug":"the-meltdown-is-happening","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/05\/13\/the-meltdown-is-happening\/","title":{"rendered":"The meltdown is happening"},"content":{"rendered":"<p>Two comments in <a href=\"https:\/\/ep.ft.com\/permalink\/emails\/eyJlbWFpbCI6ImRkNTgwMThhNjNmYzQ4YjliNDYwZTY2NjliNzMwMDVhZjg5MDQ1OGYxNjlkNWU4NDU0M2VkZjM3MTk2Yzc2YmNlZCIsICJ0cmFuc2FjdGlvbklkIjoiNzdlN2ZhNjMtZTBhMy00NmVhLWI2NDgtY2ZmZTkyODhhNDc2IiwgImJhdGNoSWQiOiI3YWYyZDBkOS02YjNlLTRjMjYtYmZmMi1kY2JlZDhiNTliOTUifQ==\" target=\"_blank\" rel=\"noopener\">one FT email<\/a> this morning gave us a good clue that all my predictions about the failure to end the war in the Gulf <a href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/05\/10\/the-seven-steps-to-economic-meltdown\/\" target=\"_blank\" rel=\"noopener\">are unfolding as I have predicted<\/a>.<\/p>\n<p>The first is this:<\/p>\n<blockquote><p>Construction projects are stalling around the world\u00a0as the closure of the Strait of Hormuz disrupts the supply of crucial materials and drives up prices for oil-derived products such as paint and insulation.<\/p><\/blockquote>\n<p>The second is this:<\/p>\n<blockquote><p>Low-cost air travel may be a thing of the past as rising fuel prices tip carriers into another crisis that could bring a wave of consolidation, bankruptcies and faster retirement of old aircraft.<\/p><\/blockquote>\n<p>The collapse is underway; Trump has no inclination to do anything about it, and a meltdown is going to happen.<\/p>\n<p>This is where we are.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two comments in one FT email this morning gave us a good clue that all my predictions about the failure to end the war in<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/05\/13\/the-meltdown-is-happening\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,35,203,75],"tags":[],"class_list":["post-92263","post","type-post","status-publish","format-standard","hentry","category-corruption","category-economics","category-fascism","category-usa"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/92263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=92263"}],"version-history":[{"count":1,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/92263\/revisions"}],"predecessor-version":[{"id":92264,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/92263\/revisions\/92264"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=92263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=92263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=92263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}