It's a word I invented, but basically I was referring to the tendency for ordinary people (particularly in the US) to easily fall into masshysteria and fear because of doomsday prophecies (or to welcome it in the case of the religious nuts). For example: Right before Y2K there were a great many people in the US who genuinely believed the end of the world was coming in Y2K and started hoarding supplies, and some went so far as to bail out and head for the hills.
At this point in time it's more of a reference to the latest doomsday prophecy: 2012.
I'm not really talking about cults per say, but just normal people being scared ****less and/or believing doom is upon us.