The previously unthinkable is now happening. For the first time in modern history a war is taking place on a large scale, and the consequences of this war are unclear. While it's clear that Russia can 'conquer' Ukraine if that is its objective, the costs in terms of human life and the aftermath of such a conquest remain highly unclear.

Most observers (including some well regarded ones) did not think Putin would go for an all-out invasion of Ukraine because of the costs and the potential tactical disadvantage in which it would put Russia. Well now those pundits, including myself, have been proven wrong.

Putin has pulled the pin on the grenade and tossed it not knowing exactly where it will land.

Make no mistake, this is a desperate move by a man who has been losing the battles of ideas and demographics with the West for decades. You can tell a lot about people and countries by how they deal with truths, Putin's Russia is led by lies and anyone who chooses to speak out is muzzled by force. Darkness can reign for a time, but eventually Truth and Light always prevail.

Ukraine challenged Putin one too many times and finally he decided that he simply couldn't take it anymore. It is also probably not an accident that the US began supplying Javelin anti-tank missiles to Ukraine for use in Donbas last November. It is probably around this time that Putin decided that Ukraine had to be dealt with.

The world changed forever last night. However, I am not bleakly pessimistic this morning. Putin has isolated himself and Russia from the world and Ukraine will be a costly 'victory' for Russia. The greatest cost being that despite being the renowned Slavophile that he is, Putin still chose to murder his brothers and sisters.

I will refrain from making a financial market commentary this morning other than to remind my readers that wars have historically not been a major negative for the stock market. Maybe this time is different, but probably not.

“You must not lose faith in humanity. Humanity is an ocean; if a few drops of the ocean are dirty, the ocean does not become dirty.” ` ~ Mahatma Gandhi



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