WE have all had an experience that was life-changing, in the sense that tomorrow could never be like yesterday. It might have been minor; it could have been major. If you lost your cell phone or if your computer hard disk died, you know what I mean. You might have gone through a personal financial disaster like losing a business. As you grow older, you squint your eyes to read the fine print and eventually, it is time to buy reading glasses. But whether the incident comes suddenly or gradually, the one thing we do is pretend that everything is normal. We put off “acceptance” until we have no choice. Sure, the global economy is a mess but we really want to see that new movie this weekend. Geopolitics and wars are on the front page as usual and maybe more intense than normal, but we are used to that. Most people around the world are fooling themselves. We are in the middle of a global life-changing event, and we are acting as if everything is normal. It is not normal by any imagination. The political situation—as a result of the phase transition of the political cycle— has changed the landscape in countries, from Indonesia to England, and has or will affect every other in between. South Korea is going through one of the most bizarre incidents of government corruption ever seen. President Park Geun-hye is facing a scandal that has taken her approval rating to 9 percent. The zombies on the television show The Walking Dead are held in higher regard. And once again comes the US presidential election and, while the candidates this time are also a little more intense, we know exactly who is “good” and which one is “bad”. One candidate has never held a political position and wants to take over the most powerful political office on earth. The other has been embroiled in scandals and anomalies for the past 40 years. But the truth is that the results of this election in the big picture is a “So what?” event. Over the weekend I watched the South Korean film Train to Busan that tells the story of the country being destroyed by zombies in a matter of two days. Would it really matter if Donald Trump, Hillary Clinton, or anyone else was in charge? Thinking that the global political scene is “business as usual” is delusional. But more important, this is the opening scene of the economic chaos that is yet to come in the next year or two. The 1997 Asian financial crisis destroyed the South Korean economy taking growth from plus 10 percent to minus 8 percent in two years. Thailand went from plus 10 percent to minus 15 percent. Malaysia effectively closed its financial and economic borders to keep the “zombie” plague out. The Cyprus banking system collapsed in 2013. Greece defaulted on its debt in 2015. In the next two years or so, there will be a major sovereign debt default. Which will it be—Austria, France, Spain? It does not matter. But the reality is that debt is growing faster than the economic growth needed to pay the debt. And like in 1997, the virus will spread. Does anyone even remember the name of the captain when the Titanic hit the iceberg?