Well that would suck cause I am just graduating from high school in 2011.
No, in all seriousness, I've heard/read a lot about this. A woman I know (who is a complete GENIUS), explained it to me in the way that she thinks. I'll try to explain what she said, but I'm not nearly as smart as her, but I'll do my best.
This whole thing came about because of the Mayan calendar, which supposedly ends on December 23 (?), 2012. Apparently, the Mayans have different cycles to their calendar - I believe every 1,000 years. This friend of mine believes that December 23 is just the end of one of the cycles, and that it will continue on as normal.
The way I see it, if the world is gonna end it's gonna end, and there's nothing we can do about it. Personally, I don't believe it's going to happen, but it's not worth fretting over even if it is.