The tragically hilarious thing about Moore's crockumentary is that every one of his main anti-Bush "arguments" has been refuted. Supposedly Moore bragged that his evidence was irrefutable and was echoed by his lackeys in the press and Big Media. Upon further examination it is found all his allegations were absurd. Only total fools would believe his garbage...or liberals.
The way I read your sentence was:
Only total fools would believe his garbage...or [would believe] liberals. :=)