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Cramer: Get Your Portfolio Into the Bunker

I have three others that Peltier and I agree on that are worth buying in the event of a debt default or the plummeting I expect ahead of such an event -- one that is being described as impossible by both sides, and is often talked about as if it's as unlikely as a meteor hitting the Capitol building.

The first is Pfizer ( PFE). This is about as plain-vanilla a drug company as you can get. Normally I would select Bristol-Myers ( BMY), but that stock is up on a spike. I might have gone with Eli Lilly ( LLY), but I didn't like what I heard about the pipeline at last week's analyst meeting. Merck's ( MRK) got yield and a share buyback, but it does not have the pipeline that many want. That's why Pfizer would seem to be such a natural. Pfizer continues to churn out earnings, and it remains committed to raising its dividend. The company is also so proactive that it actually split off its Zoetis ( ZTS) animal-health division in order to bring out value. I like that.

Second is Campbell Soup ( CPB). Here's a company that simply won't go away. It is a serial dividend-raiser, and I think that the company lives in constant fear of takeover bid, as its business looks a lot like the business of Heinz, which got a takeover bid earlier this year from none other than a team that included Berkshire Hathaway ( BRK.A/ BRK.B). There's nothing more consistent than soups and snacks.

Finally, the last Peltier-blessed stock: Altria ( MO). Look, I know that there's tremendous controversy and resistance involved in buying tobacco stocks, but this is a company that keeps taking share and keeps raising its dividend every August. Talk about a constant! The company behind Marlboro is a clockwork dividend-raiser.

Pfizer, Campbells and Altira: Two 3-percenters and a 5-percenter, all with growth prospects. Terrific Washington antidotes.

You know what else will get clocked? The telco stocks. The Dividend Stock Advisor likes AT&T ( T), but I could see some earnings risk coming down the pike from a recession. I want a company that has a terrific wireless business, because wireless growth continues unabated. I want Verizon ( VZ), which just purchased the rest of Verizon Wireless that it doesn't own from Vodafone ( VOD).

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