Image Source: Digital Tibetan Buddhist Altar.
From Digital Tibetan Buddhist Altar: "Saturday, 5 May 2012 at 11:35 EDT [p.m.] in the United States will witness this year's 'supermoon,' coinciding with a full moon, and if you have never witnessed one, now is a chance you won't want to miss." The Supermoon occurs when the moon's perigee (closest point to Earth) coincides with the full moon phase. There is a short NASA video on the Supermoon here.
The moon will likely outshine the annual Eta Aquarid meteor shower, which willl also be hitting its peak. Conspiracy theorists claim that Supermoons cause earthquakes. But astronomers and seismologists deny this. The Digital Tibetan Buddhist Altar also has an eastern astrological and Buddhist assessment of this full moon. For western astrological views, see Aurum Astrology, here, and Mystic Mamma, here.