from Crikey ….. 

Australia is a laggard not a leader on emissions trading 

Thomas Hunter writes: 

Last week in Washington we got a rare look inside the global private banking industry, whose high purpose it is to gather up the assets of the world's wealthiest people and many of its worst villains, and shelter them from tax collectors, prosecutors, creditors, disgruntled business associates, family members and each other.

An ill-timed trial of a new baggage check-in system is being blamed by angry passengers for chaotic scenes at Qantas's Sydney domestic terminal.

Flights were delayed,  passengers said they were queueing for more than an hour, and scores of passengers found themselves waiting in line at the time their planes were due to take off today.

Some sectors of the economy, Big Oil, the Pharmaceutical Industry, Banking and Investment, Insurance companies, the Defense industry and Lawyers made heavy contributions to politicians, gaining unprecedented clout in regard to influencing government policy.  

Huge contributions to political campaigns became essential if a politician wanted to keep his or her job. Campaigns became more expensive and many elected officials realized that corporate support was a necessity.  

Nodding his head to the disco music blaring out of his car's nine speakers, Zhang Linsen swings the shiny, black Hummer H2 out of his company's gates and on to the spacious four-lane road. 

Running a hand over his closely shaved head, Zhang scans the expanse of high-end suburban offices and villas that a decade ago was just another patch of farmland outside of Shanghai.

If Barack Obama's idea of ending the occupation in Iraq is to transfer most of the troops to Afghanistan, he won't have accomplished much.

He's right that we should not be in Iraq, but we also shouldn't be in Afghanistan.  

Our sole interest in Afghanistan should be to get Osama bin Laden. After that, we should bring our guys home.

Sen. Barack Obama was in Berlin today, for a lofty speech to throngs of people about the roots of American-German cooperation and the development of freedom in the world.

The Pope christened Australia the “great southern land of the Holy Spirit” and urged young people troubled by the state of the world to seek answers in faith. 

Barack Obama, who in a recent trip to Israeli said their nation was a 'miracle', has convinced Arabs and Iranians he will put Jewish interests first if he becomes U.S. president, leading many Arabs to say 'tell me something I don’t know.' 

from Crikey …..

The more information that emerges about Frank Lowy's multifarious tax arrangements, the more damage is being inflicted on Lowy's formidable reputation.

Here in the ancient Tasmanian forest, the world's tallest hardwood trees rise 250 feet from the valley floor. These are the Eucalyptus regnans - the king of the eucalyptus - and some have been growing for more than 400 years. 

At one point during the five and a half years John McCain spent as a prisoner of war in North Vietnam, he was tortured and beaten so badly he tried to kill himself.  

After four days of this brutality, he gave in and agreed to make a false confession, telling lies to end the unbearable pain.  

For Senator Barack Obama, who came to Europe once in the last four years, making a stop in London on his way to Russia, the response of many Europeans to his potential presidency has been gratifying - emotional, responsive, replete with the sense of hope he seeks to engender about a more flexible, less ideological America. 

European governments and politicians are not so sure. 

Italy's parliament has given its final approval to a controversial immunity bill put forward by Prime Minister Silvio Berlusconi's government. 

The speculation-driven skyrocketing price of petroleum is savaging all Australian citizens, and destroying our agricultural and trucking industries, among many others.