“Americans continue to reel from prices that soared during the pandemic, never came back to earth, and keep ticking higher.”

The automatic registration will apply to male US citizens and “every other male person” in the country between the ages of 18 and 26.

Now that the Trump administration has escalated the threats made to Iran, the usual justifications for war are already circulating, including those that tell us that US intervention in foreign countries is about spreading democracy. We are told that bombing other countries could prevent evil regimes from killing their own people. We are told that we are doing a good thing. All of this is, of course, a lie.

Teddy Roosevelt would be so pleased if he could see the world today, with a US military presence virtually everywhere on the planet.

[This article is one of the winners of the annual Kenneth Garschina Undergraduate Student Essay Contest. In March 2026, in celebration of Murray Rothbard’s 100th birthday, students submitted essays on his iconic Austro-libertarian text, For a New Liberty: A Libertarian Manifesto. The top three contestants presented their essays at the Austrian Economics Research Conference.]

[This article is one of the winners of the annual Kenneth Garschina Undergraduate Student Essay Contest. In March 2026, in celebration of Murray Rothbard’s 100th birthday, students submitted essays on his iconic Austro-libertarian text, For a New Liberty: A Libertarian Manifesto. The top three contestants presented their essays at the Austrian Economics Research Conference.]

Inflation pressure, plus uncertainty means Japan, like the US, faces upward pressure in bond yields. This will bring down a lot of overleveraged households and businesses.