Campbell Soup Co. (NYSE: CPB) traces its origins back to 1869.  This company has been around forever, and it has used its time well.  Campbell Soup has survived and thrived through the Great Depression of the 1930s, both World Wars, and every single one of the challenges and setbacks that the U.S. economy has suffered since.  The magnitude of this accomplishment is almost unthinkable.

At this point, it is good to look for the defensive plays that have been neglected in this upturn and for safe havens for investors taking profits from the recent run.  After looking long and hard, I came to General Mills Inc. (NYSE: GIS).

Fed will Buy up to $1 Trillion in Securities; Source: IBM Looking to Buy Sun; Record Hedge Funds Collapses in 2008; Stale Earnings at General Mills; World Bank: China Stabilizing; AIG Exec Asks for Bonus Money Back

Prices for food in U.S. grocery stores jumped 6.6% last year – the biggest spike since 1980 – underscoring yet again that inflation is a much bigger problem than government officials, or most economists, say it will be.

Given the implicit government guarantees, Eric Roseman says it is likely that investors will soon start to switch from low-yielding Treasury bonds to high-grade corporate debt. The Fed’s balance sheet is now polluted by the toxic debt it has taken on from banks. And demand for Treasuries will not keep pace with the deluge of supply in the coming year. Eric says this could make investment grade corporate debt the new safe haven in bonds in 2009.

Warren Buffet has shown the prowess of his trading strategy once again. Not only did he walk away with over $1.5 billion in his pocket earlier this week, but now his prized investment in Coca-Cola (NYSE:CCE) is jumping in value.

Today, the Dow dropped below 8,000 for the first time since March 2003.

This is great news for investors, says J. Cristoph Amberger. “History has proven time and time again that the seeds of wealth are sown during market crises… by buying good companies at crash valuations.”

He recommends investors buy shares of Ford Motors (NYSE:F), Alon (NYSE:ALJ), Stewart Enterprises (NASDAQ:STEI), General Electric (NYSE:GE), General Motors (NYSE:GM) and General Mills (NYSE: GIS) now.

Editor’s Note: Money Morning’s Jennifer Yousfi has been talking a lot about the impact of rising corn prices on US food producers. With input costs of animal feed spiraling out of control, many producers are struggling to keep their heads above water. For investors, says Jennifer, this means no “slam-dunk” profit play. But Jennifer says she’s found three companies that she thinks offer good bargains…