The Saxo strategist wasn't finished, however, and then proceeded to lash out at the monetary policy that enable the current dead-end situation, stating that "we are all well-aware that monetary policy is not the right tool to stimulate the economy and the disadvantages of negative rates surpass the advantages, but we are doing more of the same and we are slowly reaching the point where central banks are becoming market makers in some market segments."

What follows then is one of the most succinct explanations why - in a world in which the stock market is the economy - central banks can never again allow stocks to drop: "We – and I mean mostly policymakers – cannot afford the stock market to fall, as it would lead to contagion effect to the real economy." And the punchline: