Pope predicts economic collapse in 1985? I can do the same thing right now

This article made me laugh. According to the article, the paper, written by Pope Benedict XVI when he was just a cardinal, made a rather bold and general prediction: "German-born Ratzinger in 1985 presented a paper entitled 'Market Economy and Ethics' at a Rome event dedicated to the Church and the economy. The future pope said a decline in ethics 'can actually cause the laws of the market to collapse.'"

Well, there were crashes in 1987 and 2001 that arguably fall into this same category, so I guess his Nostradamus-type prediction was just as applicable then. I'm not questioning the paper, nor have I read it, but I cringe when I see organizations like Bloomberg latch onto articles like this to the point they actually make a real headline.

Here's a bold prediction: Sometime in the future, the market will be well above 14,000 again, and probably approaching 20,000. Economic crisis will occur and the market will go down. And again, sometime after that, the market will rebound and things will be great. And after another time of great economic prosperity, the economy will slow down and the wallets will tighten as the market experiences tumultuous turns. There also will be a presidential election in 2036, and again four years later. Mark my words. All of this will come true. Just remember you heard it hear first, in 2008.

Tags: pope predicts economic crash, predicting the future