There is a bubble deflating out there. It needs to be pricked. Just because I believe that the stock market is toast doesn't mean that I'm for the decline. It's just that I believe that the market is ready for a decline...
I do see a rally after a successful war, whether it's justified by economic fundamentals or not.
However, in the long run, after the market has returned to rationality, probably after that post-war rally I'm predicting, I think US stocks will appreciate. They will grow in proportion to the US economy, which I fully expect to continue to grow over the long term.