Barack Obama will move swiftly to unpick many of what he sees as the most egregious acts of the Bush administration when he enters the White House in January, including restrictions on stem cell research and moves to allow oil drilling in wilderness areas, a leading member of his transition team said yesterday. 

John Podesta, a former chief of staff to Bill Clinton whom Obama has put in joint charge of his transition process, indicated the incoming president would use extraordinary powers to force through rapid change.

An op-ed in the conservative Wall Street Journal (June, 2008) provides another example of how there isn’t a dime’s worth of difference between Republicans and Democrats, especially when it comes to foreign policy.

The op-ed, entitled “Don’t Expect a Big Change in US Foreign Policy” by Timothy J. Lynch and Robert S. Singh, argues that no matter who is elected president — McCain, Obama, or Clinton — foreign interventionism will continue to be the order of the day.  

President Nicolas Sarkozy would like to emerge as the economic “president” of Europe until 2010 - overseeing a united response to the world financial crisis by the 15 Eurol and nations and Britain.  

The French president has launched a diplomatic and media campaign to suggest that his current role as conductor of the European Union economic orchestra, due to expire in December, should be extended informally, until the end of 2009.

as the murray-darling collapses ….. 

The Federal Opposition says the Government needs to provide evidence that its new industrial relations laws will make people's jobs safer. 

Workplace relations spokesman Michael Keenan says many businesses are seeking answers, particularly in the context of the international credit crisis.

US President George W Bush has said he and Barack Obama will discuss issues such as the global financial crisis and the war in Iraq "early next week". 

In a speech at the White House, Mr Bush congratulated the president-elect and said he would make every effort to ensure a smooth handover on 20 January. 

from Crikey ….. 

Tears and laughter. This is what Obama means 

From Washington DC, US correspondent Guy Rundle writes: 

Some serious misunderstanding has arisen between Kevin Rudd's office and George W. Bush's White House. It concerns a telephone conversation between Bush and Rudd. Let me give you the chronology. 

New South Wales Small Business Minister Tony Stewart has been stood down from Cabinet over allegations he verbally abused and touched a female staff member at a charity event last month.  

The Premier's office moved the female staffer out of Mr Stewart's office as soon as the allegations emerged.  

NEWS Corporation Chairman and Chief Executive Rupert Murdoch has warned Australia will miss out on an approaching 'golden age' of prosperity and freedom unless we undertake radical reform, scale back Government and embrace the free market.

Delivering the first of six Boyer lectures at the Sydney Opera House today, Mr Murdoch declared Australia was not prepared for future challenges it faced such as the global financial crisis and lamented many would learn the hard way as a result. 

Muscle man-turned-actor-turned-politician Arnold Schwarzenegger has called on Barack Obama to beef up his policies - and his body - at a high-voltage campaign rally for Republican John McCain. 

Australian Industry Group head Heather Ridout has criticised the Government's modelling of an emissions trading scheme as a 'Tardis' approach which lacks key details.

Ms Ridout says Australia should not 'be wedded' to a 2010 start up date for an emissions trading scheme, especially if international moves to cut emissions are looking doubtful. 

The Vatican acknowledges that psychological tests could help identify candidates for the Catholic priesthood who show homosexual tendencies, according to a document. 

While condoning the use of such tests by Catholic seminaries, the document approved by Pope Benedict XVI says they must be strictly voluntary. 

Exxon Mobil Corp. smashed its own record for quarterly profits today, ringing up $14.8 billion in net income in the third quarter powered by soaring summertime crude oil prices. 

Exxon Mobil's earnings, at $2.86 a share, are up 58 percent from the same period in 2007 and higher than what analysts expected, capping a week of strong profit numbers from the world's biggest oil companies, all of whom benefited from the spike in oil prices in July.  

Presidential candidate Barack Obama has reached out to US voters in a half-hour, prime-time advertisement on seven US TV channels six days before polling. 

The broadcast came as the Democratic senator appeared with former president Bill Clinton at a rally in Florida. 

On channel Seven 4:30 afternoon news today, (29/10/08) Westpac's Global Head of Economics, Bill Evans, said something stupefying... Amazingly, he did not understand the way money was ebbing and flowing anymore...

Imagine!!!!