Faber and Mish – We’re Doomed and Washington Can’t Do Anything About It:

Washington is patting itself on the back for having orchestrated an amazing economic recovery. But Washington lawmakers are a delusional bunch of boneheads, say Marc Faber and Mike “Mish” Shedlock, editor of the Gloom, Boom, and Doom Report and investment advisor at SitkaPacific Capital Management, respectively.The economy is NOT recovering, they say, and the U.S. faces a depressing “eventuality” of either crushing deflation (Shedlock) or runaway inflation (Faber). The timing and type of this eventuality is uncertain, say the gurus, but they are certain it’s too late for America to change course.”It’s beyond repair — it’s too late,” to avert fiscal disaster, Faber declares.Mish agrees: “The day of reckoning has arrived. The question is how long it takes to play out.”This grim outlook doesn’t mean you’re helpless. Faber recommends individuals prepare for doomsday by buying gold, owning assets abroad and buying property outside of major cities.

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Freeze Your Credit

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Identity theft is one of the fastest growing financial crimes.

Nearly 10 million Americans fall victim each year. The Identity Theft Resource Center reported in 2005, on average, an ID theft victim of new account and other fraud spent 60 hours resolving problems brought on by ID theft, those victims of existing accounts spent an average of 15 hours resolving problems. A 2003 Federal Trade Commission study found that identity theft also costs U.S. businesses nearly $48 billion annually, and consumers an additional $5 billion per year.

A security freeze lets consumers stop thieves from getting credit in their names.

A security freeze locks, or freezes, access to the consumer credit report and credit score. Without this information, a business will not issue new credit to a thief. When the consumer wants to get new credit, he or she uses a PIN to unlock access to the credit file. These states give consumers this important weapon to prevent identity theft:

Consumers Union’s Guide to State Security Freeze Laws Continue reading