“We are all used to using the word ‘cycle’; we’re all used to looking at historical charts and graphs and equations and relationships,” Lakos-Bujas tells Barron’s. “The reality is that maybe the word ‘cycle’ is no longer even relevant, given that we have so much unconventional central-bank involvement.”

What goes up no longer comes down! Yay!

This will end badly. This will end very badly.