I have all of the outlet spots of a power strip filled and then some? Is this safe?

You know a power strip that allows you to plug multiple outlet plugs into it to power multiple electrical appliances.The power strip itself is attached to an extension chord that is plugged into a wall outlet. The six appliances that occupy the six outlet plugs are my computer (tower), my monitor, computer speakers, power plug for modem/router, then I switch off one of the outlets between a lamp and printer (I have ran out of outlets so this is how I use both). The last outlet on this power strip is occupied with another extension chord which is attached to yet another power strip. On this other strip, I have a 36 inch flat screen t.v. plugged in, an alarm clock, a DVD player, and a 120 watt guitar amp (I don't always have the guitar amp on obviously but when I do I don't remove any plug). I hope you have already guessed that in this room there are no wall outlets, which is of course why I do all of this. I guess I'm trying to ask, IS THIS SAFE! I actually really think about it when I'm switching the one plug between my lamp and printer (don't want to get shocked), or when I'm playing my guitar (afraid of damage to amp). IS THIS SAFE TO ME AND MY APPLIANCES!!! Please help. Thanks!