Astronomers do not use the term 'alignment' because it is too vague and has astrological implications. There will be an interesting planetary conjunction around that date as you can see from the above sketch looking down on the solar system.
There have been many grand conjunctions in the past, and the historical record shows that absolutely nothing happened. Physically, there is no reason to expect any effects, gravitationally or electromagnetically. The only effects will be those caused by mass hysteria that is a far more powerful force than gravity, which can cause riots, buildings to explode, crime waves and the like.
Here is an image taken with the SOHO/LASCO satellite showing Jupiter, Saturn and Mercury on April 27th. Note the horizontal streaks are camera artifacts. On May 15, 2000Venus will be joining this grouping near the Sun.
Copyright 1997 Dr. Sten Odenwald
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