The Black Horse of Revelation, also known as the 3rd seal judgment, consists of several important elements, including a Global Economic Collapse, Severe Food Shortages, and Severe Water Shortages resulting in an explosion of food prices so high that it takes an entire day's work just to buy a single loaf of bread let alone other food and necessities.  One other note.  While the first hints and movements towards the fulfillment of this prophecy are underway, it won't see ultimate fulfillment until after the rapture when God will begin pouring out His full wrath on this world.

Admin Note: Some of the events seen in the Black Horse judgment will see many similar events prior to the day when it happens, in the form of plagues, famines, droughts, and more.  But they will only be foreshadows, and not the actual Black Horse itself.