05 Mustang squealing problem?
it sounds like a bearing may be going out............. if it IS a bearing on something going out, then i promise you'll figure out what it is really soon... it will fail with sudden force and cease up randomly while you're driving.
it's pretty dramatic, and causes your belt to scream like a pig thrown into a ............... nevermind... point is, it's probably going to make a crapload of noise, smoke will pour out from under your hood, and you're going to think the car is about to explode and you may end up needing to replace your belt............. and your underware....
but it wont cause any permanent damage to your engine (UNLESS it's you're MAIN BEARINGS going out, then your motor is ******... )
whatever it is that goes out, you will probably have to remove your belt, or CUT the damn thing off and drive straight to an autozone immediately to get a new belt and whatever the thing is that ceased. you'll have as long to get there as your battery has life in it since the alternator won't be charging. this means turn the ac / heat, stereo, and everything else off that isn't essential to your car's ability to drive, and go STRAIGHT to autozone, or get as close as you can get to one before the damn car puts to a stop with a dead battery.......... or if you're closer to home, you should probably go there instead lol... use your common sense anyhow...