News from around the web: 2009-10-24

• US Treasuries: "Risk free" for How Long? – Megan McArdle

  This is the widely-believed default canard. Latin America nations defaulted because of foreign currency debt. Japan issue debt in their own currency. They cannot default. Hello?

• CRE Refinance Pressure to Continue for Months : HousingWire

  Peak middle of net decade

• South-South Trade Tensions – Crisis Talk – The World Bank Group

  China vs. South America. H/T Mark Thoma

• Soros says taxpayers right to resent bank bonuses | Reuters
• The White House’s election-year fratricide – washingtonpost.com

  Despicable

• The Time Has Come For Direct Job Creation – Randall Wray

  I am not sure how I feel about this one. Definitely read it.

• China’s 8.9% Growth? No Way – Forbes.com
• FT.com – Mohammed El-Erian – The two-stage de-risking of banks
• Who cares if Wall Street ‘talent’ leaves? – Oct. 23, 2009
• Blame Game Starts in Virginia — Political Wire

  White House to label Deeds a "weak candidate"

• The Best Free Twitter Apps for Android

  Twidroid and Swift are top dogs

• Bernanke: Smaller Banks Not Necessarily the Answer for ‘Too Big to Fail’ Dilemma – Real Time Economics – WSJ
• The ‘Junk’ Parade Marches On – WSJ.com

  High yield has had a stellar year

• Buttonwood: Squaring the circle | The Economist

  Equities, bonds and gold all up double digits is rare

• Accidents Of History Created U.S. Health System : NPR

  Great history of healthcare in America

• Matt Taibbi – Taibblog – Elizabeth Warren for President – True/Slant
• FT.com – Rally fuelled by cheap money brings a sense of foreboding

  h/t Scott

• Miller Says Odds May Not Favor El-Erian’s New Normal – Bloomberg.com

  I’m more with El-Erian

• U.S. Risks Japan-Like ‘Lost Decade’ on Stimulus Exit, Koo Says – Bloomberg.com

  “three to five years to get out of this mess, even under the best of circumstances.

Distraction of the Day: Miley Cyrus quits Twitter, Billy Dee and Jimmy Kimmel version (hilarious)