Grand Warlock doesn't like Obama's chances in 2012

The pundits have long predicted that President Obama would face a tough fight as he tries to win a second term in the White House.

His approval ratings hover in the mid-40s. Most polls show he would face a razor-tight race if Iowa caucus winner Mitt Romney emerges as the Republican presidential nominee. The national unemployment rate stands at 8.6%.

And now the campaign has been hit with this bad news: Mexico's Grand Warlock doesn't like Obama's chances.

The Grand Warlock, who is the leader of sorcery centered in Mexico's southeastern city of Catemaco, is predicting in his New Year's forecast that Obama will fail to win re-election and two Latin American leaders would be diagnosed with cancer, AFP reports.

The Grand Warlock, also known as Antonio Vazquez, claims to have a 75% to 80% accuracy rate on his yearly predictions.

Last year, he predicted that the euro would weaken and recession would return to developed economies. But he also incorrectly forecast that a Latin American leader would be assassinated.