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Mayan apocalypse: panic spreads as December 21 nears

Fears that the end of the world is nigh have spread across the world with only days until the end of the Mayan calendar, with doomsday-mongers predicting a cataclysmic end to the history of Earth.

By Nick Allen, Los Angeles, Malcolm Moore in Beijing and Tom Parfitt in Moscow

6:42PM GMT 07 Dec 2012

Ahead of December 21, which marks the conclusion of the 5,125-year "Long Count" Mayan calendar, panic buying of candles and essentials has been reported in China and Russia, along with an explosion in sales of survival shelters in America. In France believers were preparing to converge on a mountain where they believe aliens will rescue them.

The precise manner of Armageddon remains vague, ranging from a catastrophic celestial collision between Earth and the mythical planet Nibiru, also known as Planet X, a disastrous crash with a comet, or the annihilation of civilisation by a giant solar storm.

In America Ron Hubbard, a manufacturer of hi-tech underground survival shelters, has seen his business explode.

read more http://www.telegraph.co.uk/news/worldnews/northamerica/usa/9...

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I wonder how this is and will affect the economy?

Apparently the revenue and demand produced by this preparation for the end is enormous. When the 21st passes and everyone has all the "necessities" they have hoarded then demand will plummet. Are the preppers the ones floating the economy now? What happens to prices when the hoarding ends? Will it cause short term deflation? And how about jobs? I have many questions.

This could turn out to be a self fulfilling prophecy.