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Mark Steyn: We're in the fast lane to Bailoutistan
Orange County Register ^ | 12/19/08 | Mark Steyn

Posted on 12/20/2008 5:55:36 AM PST by tips up

General Motors now has a market valuation about a third of Bed, Bath & Beyond, and no one says your Swash 700 Elongated Biscuit Toilet Seat Bidet is too big to fail. GM has a market capitalization of about $2.4 billion. For purposes of comparison, Toyota's market cap is $100 billion and change (the change being bigger than the whole of GM). General Motors, like the other two geezers of the Old Three, is a vast retirement home with a small money-losing auto subsidiary. The UAW is AARP in an Edsel: It has three times as many retirees and widows as "workers" (I use the term loosely). GM has 96,000 employees but provides health benefits to a million people.

(Excerpt) Read more at ocregister.com ...


TOPICS: Culture/Society; Editorial; Government; News/Current Events
KEYWORDS: 110th; bailout; marksteyn; steyn
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To: tips up
"Ah, California. The Golden State! To a penniless immigrant named Arnold Schwarzenegger, it was a land of plenty. Now Arnold is an immigrant of plenty in a penniless land. What's the motto on the license plates? "Ah'll be back …for more of your money!"

For Steyn, this is just a short quip, but it's says more than the entire essays of some other columnists.

21 posted on 12/20/2008 6:47:41 AM PST by safeasthebanks ("The most rewarding part, was when he gave me my money!" - Dr. Nick)
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To: wgflyer
No. I think he is giving us a final, glaring display of his economic ignorance and lack of respect for the entreprenauristic spirit that built this country, and the tax payers who’ve footed the bill for his folly.

Who was the American Officer in Vietnam that declared that,"I destroyed the village in order to save it"? No it wasn't GWB but could have been.

22 posted on 12/20/2008 6:52:26 AM PST by Don Corleone (Leave the gun..take the cannoli)
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To: Always Right
War.
23 posted on 12/20/2008 6:53:14 AM PST by Ghost of Philip Marlowe (Abortion has become little more than the New Left's execution of political prisoners.)
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To: tips up
“Cantaffordya”

Classic Steyn. Thanks for posting.

24 posted on 12/20/2008 6:53:37 AM PST by Ghost of Philip Marlowe (Abortion has become little more than the New Left's execution of political prisoners.)
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To: tips up
For every GM worker making a car, ten are not making a car but are getting health care benefits.

Social Security in miniature.

25 posted on 12/20/2008 6:56:01 AM PST by Mr Ramsbotham ("A laurel, and hearty handshake ....")
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To: abenaki

LOL. Good points. Here’s another - Illegal immigrants stealing the jobs that Americans want to do.


26 posted on 12/20/2008 6:56:53 AM PST by Girlene (Merry Christmas)
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To: wgflyer
It's either that, or Glenn Beck is right, and that Pres. Bush and some others see that not just the US but the entire world economic system is a plane about to smash into a mountain side and he's just trying to crash-land it in the trees to save as many people as he can.

Personally, I think it was trusting the enemy (socialists) that led him to this dark place. The socialists have a vested interest in putting the country and world in as disastrous economic straits as they can. The worse it gets, the louder the people will demand socialism (even communism) to “save the world.”

Perhaps, now he finally sees the utter darkness and is just trying to do what he can, knowing that it is going to fail in the end, but trying to soften the fall a bit. No one can print as much money as our government (both Dems and Reps) has over the past year and a half without being aware of the huge bill that will come due very soon.

My fear is that Obammie the Commie and his shadow supporters (Soros, et al.) are licking their chops hoping that the country completely tanks so that he can seize fascistic rule.

27 posted on 12/20/2008 6:59:01 AM PST by Ghost of Philip Marlowe (Abortion has become little more than the New Left's execution of political prisoners.)
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To: tips up

Steyn just gets better all the time. What a genius writer.


28 posted on 12/20/2008 7:08:35 AM PST by samtheman
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To: tips up
While I am disappointed that Bush gave them additional bail out money yesterday, I think he just wanted the “path of least resistance” in his last days.

Yes, I think he did this just right. Gave them just enough money to keep them alive for a few more months, and hang the albatross around Obama's neck.

-ccm

29 posted on 12/20/2008 7:08:43 AM PST by ccmay (Too much Law; not enough Order.)
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To: tips up

I think Bush is just buying time so that beautiful Barry can make everyone rich with his dancing.


30 posted on 12/20/2008 7:17:55 AM PST by Big Horn (Rebuild the GOP to a conservative party)
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To: tips up
"The UAW is AARP in an Edsel"

Mark Steyn should sub for Rush when he gets sick. Rush has a habit of having a whole bunch of people at his place for eating and drinking bashes. Of course he will get sick along with others. That's how viruses spread around. I wonder if Ann Coulter got sick too? She goes to his bashes also.

31 posted on 12/20/2008 7:17:56 AM PST by BobS
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To: realdifferent1

They kept caving in to every stupid-assed demand made upon them.


If I had to put my finger on the one thing that is doing this country in (across the board), I would say its SHORT TERM THINKING. I’ve lost count of the number of times I’ve seen people do things that will make them look good in the short run vs. doing things that are smart for the long term. The “smartest guys in the room” are the ones always making the crap decisions so they (temporarily) look good and get promoted—leaving the guy who succeeds them holding the bag. Of course, that guy has to make even dumber decisions to stay afloat—and so it goes. GM is a textbook example. Let’s dodge the bullet today, knowing full well the decision will kill the company in the future—after they’ve safely retired with their golden parachute.

Once upon a time, people actually tried to do the right thing: not only for themselves, but for their employer and their country. Now its every man (woman) for themselves.


32 posted on 12/20/2008 7:18:36 AM PST by rbg81 (DRAIN THE SWAMP!!)
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To: Always Right
'Who bails out the bailouts?'

Look in the mirror. Then hide your wallet. I'm thinking that a gross of Mason jars and a shovel to bury them with would be a good investment right now.


33 posted on 12/20/2008 7:23:06 AM PST by Viking2002 (Let's be proactive and start the impeachment NOW.)
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To: tips up; Rummyfan; kellynla; Howlin; riley1992; Miss Marple; Dane; sinkspur; steve; kattracks; ...
Pinging the NEW Mark Steyn Ping List.



On or off, FReepmail  or Ping me.

Cheers,

knewshound

knewshounds blog
34 posted on 12/20/2008 7:29:30 AM PST by knews_hound (I for one welcome our new Insect overlords!)
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To: rbg81
You are absolutely right.

America has become: "Every man for himself."

The selective bail-outs like those of the auto industry are sending that message loud and clear.

"Most of you don't matter one damn bit. Some people matter more than others to us. They will be bailed out. The others of you can pay the cost of saving our 'favorites' and go straight to hell yourselves."

"There are a limited number of lifeboats on this good ship Titanic. Most of you are not getting into one of those lifeboats. Have fun drowning in the icy waters and sinking to the bottom of the ocean. In seventy-five years, we'll make a dramatic movie tribute to you poor, drowned suckers who lacked the clout to be saved."

35 posted on 12/20/2008 7:39:35 AM PST by NoControllingLegalAuthority
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To: Big Horn

Bush is doing what he can to get Obama up to speed on things. There is a whole lot more chit than this rolling down the track. I wonder how long before Obama’s hair turns into a snowball? And his wife is a winner too. That woman needs a late-term spanking.


36 posted on 12/20/2008 7:42:10 AM PST by BobS
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To: Ghost of Philip Marlowe

“Personally, I think it was trusting the enemy (socialists) that led him to this dark place. “

I think, in the economic realm, Mr. Bush actually is indistinguishable from “the enemy”.

“Perhaps, now he finally sees the utter darkness and is just trying to do what he can”

I don’t think so. I think Mr. Bush just thinks taxpayer money is the solution to all problems domestic and most problems abroad.

“My fear is that Obammie the Commie and his shadow supporters (Soros, et al.) are licking their chops hoping that the country completely tanks so that he can seize fascistic rule.”

Of course. It is their natural goal.


37 posted on 12/20/2008 7:46:24 AM PST by wgflyer (Liberalism is to society what HIV is to the immune system.)
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To: Viking2002
'Who bails out the bailouts?'

Look in the mirror. Then hide your wallet. I'm thinking that a gross of Mason jars and a shovel to bury them with would be a good investment right now.

I was thinking of that also, but then I wondered, "Why should I bury empty jars?"

My nest egg is flatter than humptey dumptey.

38 posted on 12/20/2008 7:47:17 AM PST by USS Alaska (Nuke the terrorist savages - In Honor of Standing Wolf)
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To: tips up
Nobody says it better than the great Mark Steyn.

But Mark Steyn even outdid himself in this one!

39 posted on 12/20/2008 8:17:54 AM PST by Gritty (After 2 1/2 centuries of republican experiment, America is finally back to the House of Lords-Steyn)
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To: tips up
The unions will squeeze the Big 3 dry until they are dead.

Sad, and so very true.

40 posted on 12/20/2008 8:33:23 AM PST by MaggieCarta (We're all Detroiters now.)
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