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Predictions by modern prophets

Some people predict future happenings with such accuracy that it is chilling. The predictions of Nostradamus, Mother Shipton, Siener van Rensburg, Edgar Casey and others still have the world talking. Mostly because most of their predictions – as are the prophesies of the Bible Books of Daniel and Revelations – are still to come to fruition.

Unfortunately, most predictions are about damnation, destruction and downfall. Thus, when recently made predictions became true within a very short while – a year or two – even the naysayer had to sit up and listen.

Of course, as with prophets of old the modern predictors are also mocked at first. Such was the case with those who predicted the economic downturns of 2009 onward before it happened. Peter Schiff was heckled on television for his negative outlook on the economy, Nouriel Roubini was labeled as “Dr Doom” and Marc Faber was called a skeptic.

Gereld Celente was also not taken seriously when he predicted – as Faber also did – the 1987 stock market crash. But, since, Celente predicted “the collapse of the Soviet Union in 1991, the 1997 Asian currency crash” and “the 2007 subprime mortgage scandal.” In 2007, Celente wrote, “Failing banks, busted brokerages, toppled corporate giants, bankrupt cities, states in default, foreign creditors cashing out of US securities … whatever the spark, the stage is set for panic in the streets.”

Hyman Minsky was almost unheard of until long after his death in 1996 when economist started realizing that his warnings of speculative bubbles ring true. That light at the end of the tunnel is a speeding train. Minsky saw the trouble coming.

The word prophet derives from the Latin and Greek words meaning “to speak.” Perhaps the world should listen more carefully when these modern prophets speak.

08/26/2010, Category: money. Tags: , , .

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