Breaking: US President Obama Authorizes Air Strikes in Iraq, Global Equity Markets Convulses

The US government (and vested interest groups) has been itching to get involved in wars. So the 2009 Nobel Prize for Peace awardee US President Barack Obama found justification to get into one, thereby authorizing airstrikes in Iraq.

From CNN:

U.S. President Barack Obama said Thursday that he's authorized "targeted airstrikes" in Iraq to protect American personnel and help Iraqi forces.

"We do whatever is necessary to protect our people," Obama said. "We support our allies when they're in danger."

A key concern for U.S. officials: American consular staff and military advisers working with the Iraqi military in Irbil, the largest city in Iraq's Kurdish region.

Obama said Thursday he'd directed the military to take targeted strikes against Islamist militants "should they move towards the city."

Rapid developments on the ground, where a humanitarian crisis is emerging with minority groups facing possible slaughter by Sunni Muslim extremists, have set the stage for an increasingly dire situation.

It’s not farfetched where ground forces will be next. Besides, after all these years money spent and lives lost, the US government can't seem to get enough of Iraq

Oh, don’t forget there is the Ukraine crisis in the pipeline. So far, the Ukraine crisis has been a ‘civil war’. But this localized war may mutate into an international war or even World War III very soon.

As I explained here War has almost always been associated with inflationism: 

War has always been used as opportunities to exploit society (through financial repression) and suppress internal political opposition in order to advance the interests of the ruling political class whose interest are interlinked with the politically favored banking class, the welfare and the warfare class.

American Novelist Ernest Hemmingway said it best: 

The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.

Stocks have been taking a drubbing, as of this writing Japan’s Nikkei are off nearly 3%

Asian markets have been mostly bloodied (Bloomberg).

So as with US futures (CNN)

But for the bulls, such would represent a 'buying opportunity'. That's because for the "don't worry be happy" crowd, stocks are bound to go up forever....until it won't.