When Volatility Will Return

We all know the deal. Volatility, both implied and realized, is near all time lows when it would seem uncertainty is super high. Why? What does it mean? Will it last? Is there life on Mars? All questions that seem to be swirling around Wall Street these days. I have a theory (could be wrong, just a theory), which I will work through here. More importantly, I believe, is a playbook for what to look for that will bring volatility back; a framework to think about the macro picture that is driving systemic market movement today.