Takes A Brit To Accurately Describe America's Present Predicament

Mark Steyn does a fine job as usual in his Friday column that Newsbuster's Mark Finklestein calls the column of the year...I won't go that far but it's a damn good one. It's very likely however that should there be a "column of the year" it would be penned by Mark Steyn, who writes about America and it's issues better and smarter than most American writers and columnists week after week. A columnist of whom I read every thing he writes and am a more informed person as a result .

We're in the fast lane to Bailoutistan | tax, make, new, kennedy, land -

Opinion - OCRegister.com: "See the USA in your Chevrolet!" trilled Dinah Shore week after week on TV.

Can you still see the USA in your Chevrolet? Through a windscreen darkly.

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.

How do you make that math add up? Not by selling cars: Honda and Nissan make a pretax operating profit per vehicle of around $1,600; Ford, Chrysler and GM make a loss of $500 to $1,500. That's to say, they lose money on every vehicle they sell. Like Henry Ford said, you can get it in any color as long as it's red.

In the 20th century, most advanced nations made automobiles but only America made them mythic: "Drive the USA in your Chevrolet!" sang Dinah. "America's the greatest land of all!" America had road movies. With car chases. Thelma and Louise drove their vehicle off the cliff and, unlike the Old Three, they didn't demand American taxpayers come along for the ride. But, if you didn't want to hit the open road, you could just hang around, being cool. In Chuck Berry's immortal quatrain:

"Riding along in my automobile

My baby beside me at the wheel

Cruising and playing the radio

With No Particular Place To Go."

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