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China's Black Monday triggered a ripple effect in the global stock markets. Chinese stocks dipped more than 8 percent Monday, causing investors in America and other nations to question the stability of the Asian economy.
The latest crash comes at the heels of last week's stock market declines. The Dow Jones industrial average last week dropped over 1,000 points. That marked the worst week since 2011.
Is this a much-needed correction, as some analysts say? Or are prophetic voices that warned about a financial collapse watching prayerfully as their fortelling rings true?
Charisma News asked Jonathan Cahn, author of The Harbinger and The Mystery of the Shemitah, for his thoughts. He reminded us that on Aug. 18 he posted a warning concerning the approach of September and the Shemitah. Two days later, the stock market collapsed.
"Ever since the release of The Harbinger and then The Mystery of the Shemitah, I've been asked about what will happen in the autumn of 2015. The phenomenon of the Shemitah has been so strong, that it has produced a financial or economic collapse in every one of its last seven cycles."
Cahn explains that its last two cycles saw the greatest collapses in Wall Street history on the biblical day of the Remission/ Shemitah—on the exact once in seven-year day. The pattern of the Shemitah historically has been that it's greatest repercussions tend to come not at its beginning but in its end.
"Its end is now approaching as we near the autumn. Its climactic day of Remission will take place this September," Cahn says. "Though I always I want to emphasize God's sovereignty, in that He is not bound to do anything according to our understanding, at the same time, I believe it is wise to be prepared. Whether or not there is a rebound, we are approaching a most dangerous period, and we need to take warning."
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