Tarot Card Reader
Ma Prem Usha, a tarot-card reader in a New Delhi hotel room, reads a card predicting the outcome of India's forthcoming general elections. With just days to go before spring elections in the world's biggest democracy, it's boom time for India's soothsayers, fortune tellers, astrologers and crystal-ball gazers. Indian soothsayers predict that Atal Behari Vajpayee will be the prime minister of a coalition led by the Hindu nationalist Bharatiya Janata Party. Indian general elections are scheduled to be held between February 16 and March 7. Reuters

With the beginning of a new year, dailies would report on predictions for the next 12 months with forecasts being given by soothsayers and seers. Given recent political developments in Europe, predictions by a blind Bulgarian mystic before she died in 1996 are being resurrected.

Doing the rounds of social media are 10 terrifying predictions by Vangelia Pandeva Dimitrova, more known as the blind Bulgarian seer Baba Vanga whose top forecast is a Muslim Invasion of Europe in 2016, reports Huffington Post.

Before she died at 85, she is said to have prophesied the end of Europe to be achieved by the use of chemical weapons by Muslim extremists. The recent events, such as the Paris terror attacks, the threats during the yearend holiday in key European capitals and the use by terrorists affiliated with the Islamic State, or Daesh, of migration to infiltrate the continent appear to support the prediction.

Just like in old movies, Baba Vanga acquired the ability to foresee the future when became blind at age 12 during a terrible storm, the daily cites local legend. Bulgarians and others who believe in Dimitrova’s ability to see what would happen, cite several natural and political events to support their contention that she is a seer.

These include 9/11, the 2004 Boxing Day tsunami, breakup of the Soviet Union, Chernobyl disaster and the election of Barack Obama.

The Muslim invasion of Europe will allegedly cause the extinction of Europeans that within a decade, no one will be alive in the continent. The IS recent atrocities may appear to support Baba Vanga’s vision. Latest report by the Independent Journal is that the Daesh first killed the father of a four-year-old child and after one week strapped a bomb to the child and detonated it.

On Dec 28, the IS also razed a village, killing old people, women and children to send the message to the world that it does not intend to ease its violence across the Middle East and into other continents.

With Islam hold on Europe, the Bulgarian seer is said to have forecast a US-led attack on the IS using climate-based “instant freezing” weapon. Other forecasts include time travel by 2304 and the Earth becoming uninhabitable by 2341.

However, at the same time, Huffington Post notes that the seer predicted a nuclear World War from November 2010 to October 2014 which waters down her predicting power. It’s the daily’s way of saying people should take these predictions with a grain of salt, which all major academic studies back up with research that “we stink at making predictions about the future,” reports The Washington Post.

That extends to economic forecasts, notes “What Works on Wall Street” author James O’Shaughnessy who points out that economic forecasts are useless. He cites as proof rosy projections for the global economy which was battered by the 1987, 2000 and 2008 market crashes.

An analysis by Motley Fool columnist Morgan Housel of average Standard & Poor’s 500-index forecast made by 22 chief market strategists of the largest banks and brokerage firms from 2000 to 2014 showed that on the average, their yearly forecasts missed actual market performance by 14.6 percentage points. He adds that none of the strategists forecast a single down year, but within that 13-year period, the NASDAQ crashed by 78 percent and the Great Recession caused major averages to decline by 57 percent.

In closing, Barry Ritholtz, chief investment officer of Ritholtz Wealth Management and author of the Washington Post article, cites management expert Peter Drucker’s take on economic forecasts that the jargon for so-called experts is “guru” when the proper term is “charlatan” which “is too long to fit into a headline.”