Pope Michael gives his personal views on economics here. Throughout the past quarer of a century, I have formed some rather strong ideas in the current economic system, based notoly on Catholic teaching, but also my own personal observations and even prophecy. Below I will place some of my thoughts. I also will be adding other pages to discuss subjects as I come across them. I have placed the unfunded liabilities of the United States federal government on this page, because this statistic alone should be sufficient to demonstrate why I believe that the world economy is about to implode catastrophically. What is $76,620,000,000,000? ($76.62 trillion) This figure is mind boggling. Let us try and place it in some sort of context. In 1995, if you could sell all of the land and buildings, that is real estate, in the United States for current market value it would have been worth $12 trillion. Let us say it is doubled in value over the past 12 years. This is worth $24 trillion. Take this from $76 trillion, you still owe $52 trillion. I recently read a report from 1993 that ALL of the minerals in the world in the ground are worth $15 trillion. Let us go ahead and double that to $30 trillion and you are still left owing $22 trillion; not to mention that I don't think the world wants to pay off the United States debts, they have their own. If we divide this $22 trillion by the world population, that is $3,900 for each man, woman and child on earth. Anyone want to pay in their share? Let us look at this another way. Each man, woman and child in the United States is committed to a little over a quarter of a million dollars! There just isn't that much wealth in the United States to begin covering these bills. 
