Lions and friends.
War, expanding wars, which require astronomical amounts of debt to be borrowed into the system will have much the same effect on world stock markets as central bank quantitative easing. A problem which will lead to much greater price distortions across the spectrum of assets- and set the stage for much higher inflation.
GM
When all else fails, they take you to war...
Price appreciation in stock market = capital gains = tax revenues for treasury. Don't underestimate this dynamic for balance of 2023.