Even though the war in Ukraine started two years ago, the next year of fighting could be the most consequential. Between Ukrainian and Russian losses, somewhere around half a million people are dead. Ukraine took back a little over half the territory Russia originally seized, but the front lines haven't changed much in about a year. The world changed, though. National defense spending in Europe is skyrocketing. Military all over the globe are posturing for potential fights, which is why this next year in Ukraine is so important. NATO leaders, all the military generals and officers that I report on and speak to, they pretty much all say the same thing. Putin won't stop in Ukraine if he wins there. Those same folks say China is paying close attention to Ukraine and taking notes for its potential invasion of Taiwan, and I don't even have time to mention Iran or Venezuela here. So there's a lot in the line.