(Jennifer Leclaire) There’s been a lot of talk about the Shemitah. Some say nothing happened, yet $11 trillion in global stock market wealth was wiped out during the third quarter of 2015. Eleven trillion dollars. We checked in with Jonathan Cahn, author of The Mystery of the Shemitah, to get his response to the headlines that suggest nothing happened in September. Cahn told us every one of the last seven Shemitahs has seen a collapse in the financial or economic realm.
- The Shemitah of 1966 saw what has been called the “forgotten crash.”
- The Shemitah of 1973 saw the collapse of the financial realm followed by a global recession.
- The Shemitah of 1980 saw an economic recession followed by a stock market collapse.
- The Shemitah of 1987 saw another stock market collapse, including the greatest single-day percentage crash in Wall Street history, known as “Black Monday.”
- The Shemitah of 1994 saw “the Great Bond Market Massacre,” the greatest collapse up to that time of the bond market, a market twice as big as the stock market.
- The Shemitah of 2001 saw 9/11 a stock market collapse and economic recession.
- The Shemitah of 2009 saw a stock market collapse and the Great Recession.
Cahn says the predominant pattern and the central of the Shemitah’s templates, one that appears several times in The Mystery of the Shemitah, is that of the Shemitah ending a rising stock market, reversing its momentum, and beginning a stock market collapse that takes place over the course of at least several months. And he says the Shemitah of 2015 was no different—the stock market peaked on May 19, then reversed its momentum, beginning a long-term descent. CONTINUE