In my speculative eschatology, the first three secrets of Medjugorje mark the start of the first part of the tribulation. These three events are three great blessings on the world: a blessing on the soul, on the spirit, and on the body. The blessing on the soul is the event also called the Warning or the Illumination, an event in which God illuminates the conscience, revealing our sins. Of course, this is also accompanied by the offer of repentance. Those who repent will next be offered the gift of Consolation, in which the spirit of the human person is consoled after the sorrow of repentance. Finally, the third event is a great worldwide Miracle, in which very many persons (but not all) who are ill or injured will be miraculously healed by God. There will also be placed at various places of true apparitions of the Virgin Mary, Permanent Signs that will remain until the end of the world.
Updated April 24, 2011:
It now seems that the Warning, Consolation, and Miracle will not
occur this year. The next year that fits my understanding of these
events is 2016.
More on this topic on my website, and in my book.