Sounds like your belts are squealing pretty bad. When was the last time you replaced your drive belts, you should have 3 of them....power steering, alternator, and a/c belt. The squealing sound is caused when a belt or pulley are creating friction...whether from a bad belt, or a pulley that isn't spinning freely from bad bearings. There are several things that could cause your problems:
1. One of your belts or more are in need of being replaced. When belts get hold they crack and become hard and brittle.
2. The belts have lost tension..this can happen as the belt gets old too. Also too much tension causes squealing too.
3. From your description of your symptoms...it sounds like something I experienced. Your squealing noise seems to be more prolong than simple lost tension or bad belt. Your crank pulley is most likely your case and should be inspected ASAP and if its the problem..replace is ASAP. If you have oil leaks (especially from the crank seal) or have or had a bad water pump which could of leaked coolant and the crank pulley could of been exposed to coolant, caused the premature deterioration of the rubber insulation. What happens the pulley band seperates from the center core of the pulley and this could results if catostrophic damage...or if you are lucky like me, just a damaged timing cover and some rubbing on the left inner apron.
Check the belts first then the crank pulley. The check the crank pulley, just jack up the left side of the car and you might have to remove the plastic undercover to get a visual of the crank pulley. You should be able to tell if the crank pulley is the cause.
Here is a pic of my crank pulley when is seperated:
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