Is it still safe to have a time deposit even though there is world wide economic slowdown?

Now, when almost all parts of the world is suffering from economic crisis, do you think it would be wise to have your money in a time deposit account? If so, how can you be sure that your money is safe? Your inputs would be very much appreciated. |||Well ir depends if your wise enough to take the full advantage of Government deposit insurance. For example in the Philippines we have PDIC (Philippine Deposit Insurance Corporation) which will grant 250,000 Pesos if ever the bank you have your deposits closes. So what I did is open a time deposit to several rural banks including banko paranaque, dynamic bank and another bank in cebu and etc. all deposited with 250,000 minimum deposit earning 20% interest per year and its paid through post dated cheques. So even with economic crisis my money is earning without doing anything and are insured with PDIC.