No, The Pope Did Not Endorse The Occupiers

That's most likely what the mainstream media would like to see. But the reality however is much different.

The Pontifical Council for Justice and Peace carries no magisterial weight and even if did, Catholics could disagree with it.

The problem today is that Catholics don’t know what they can legitimately dissent from and what they cannot.

The creation of a central body the way Socialists want is NOT the answer. The exact OPPOSITE is the answer.

The problem with focusing on form instead of substance is that it can lead to totalitarianism.

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More about that in this video:

H/t SoCon or Bust

And here's another must-read article on the new Vatican document:

However, while economists are learning from the Vatican, perhaps the Vatican might learn a few lessons from economic analysts. Just for instance:

• that government does not create anything, and therefore does not have funds unless it obtains those funds from ordinary people: taxpayers;
• that the world’s financial system is currently endangered because of the soaring level of government debt;
• that regulatory agencies have an abysmal record of failure in protecting the public from market fluctuations, speculative bubbles, and even outright fraud—and it is only reasonable to expect that a worldwide authority would reproduce those failures on a global scale;
...

Oh, yes, and most important of all:

• When an obscure Vatican agency issues a statement that contains 50% solid Catholic social teaching, and 50% flaky leftist theory, the world’s media will ignore the distinctively Catholic content—what the Church should say, what the world should learn—and concentrate exclusively on the leftist theory. So for the great mass of ordinary readers, who will never read the full document, but only scan the headlines, the important message will be lost. What will register, instead, is that the Vatican has not learned its lessons about economic affairs and political realities.

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In other words - the usual maxim applies: never, ever, trust what the mainstream says about the Catholic Church. Ever.