In this episode we discuss how there is no such thing as a “safe” investment, and that people have to pick which economic scenario they believe in since no asset will perform well in all circumstances. We also talk about the crisis with mortgage processing, with shoddy paperwork and robo-signing. It’s hard to feel sorry for either the lenders or their delinquent borrowers. It’s just unfortunate that we will all pay the price of an exacerbated real-estate downturn as the mess slowly gets cleaned up in the years to come.