According to the Jewish calendar, the next Shemitah year will be the year 5775 after Creation, which runs from September 25, 2014, through September 13, 2015.
As we see the Wall Street Financial Market plunges and then slightly recovering many believers are asking themselves, is this indeed the ‘Shemitah judgment’ coming over the United States that will culminate on September 13, 2015 with a total collapse of the American economy as has been prophesied by several preachers and televangelists? The answer to this question is unequivocally NO! The Shemitah has nothing to do with God shaking the American Economy or causing a famine, nor is it about judgment!
The Shemitah is a Jewish Sabbath year which was an obligation given specifically and ONLY TO THE NATION OF ISRAEL as we can read in the Old Testament book of Deuteronomy 15:1-5 (NLT):
“At the end of every seventh year you must cancel the debts of everyone who owes you money. This is how it must be done. Everyone must cancel the loans they have made to their fellow Israelites. They must not [...]