Help my car has taken up smokeing

[tkruger]

I have an 1987 LS with a 4.3 TBI. 106K on it. All of these symptoms started suddenly.
- Backed out of a parking spot and notice it was sending allot of black / blue smoke out the tailpipe.
- Riding home (under one mile) little power. Anything over 1/3 throttle it acted as if it was flooding.
- Watched lights no indication of overheating.
- Checked and found little water in the radiator. Did not see evidence of leaks.
- Re-filled radiator ran without radiator cap. saw water drop a little and then topped off. it remained at level.
- Placed cap back on, saw white smoke coming from the tailpipe within a few moments.
- No sign of water in the oil.
- Does not have normal sound. There is a burbling coming from the tail pipe.
- water is coming out of the tailpipe, not the normal amount but more like a trickle.

Ideas on what is wrong. I do not plan to drive it till I get this figured out.

 

[truracer20]

Head gasket failure. Have a shop pressure test it to determine the origin.

 

[565bbchevy]

It is just your engines way of telling you it wants to be replaced with something bigger with some actual power.