I still think that we are entering into a liberal/statist era on both sides of the aisle not seen since the New Deal coalition that created the dominant political paradigm from the 1930s until the early 1970s. When such a movement becomes too excessive, a new conservatism will rise in response. It could be between secular moderates/libertarians against statist lower class Xians (who will be predominantly of color), it could be coastals vs. heartlanders, etc. We could see the American equivalent of Pim Fortyn, ie a homosexual taking the lead against the reactionary values of "Americans of color" and/or immigrants. We could see a hard money movement versus a fiat money movement, etc.
My point is that "conservatism" as a comprehensive philosophical movement has always changed along with the nations/polities associated with it. It is by its nature a reactive and dynamic movement, rather than an unchanging one.
None of this changes the fact that us libertarians are screwed under either party for the foreseeable future.
***It is by its nature a reactive and dynamic movement, rather than an unchanging one.***
Although things are bleak now, I have no doubt we will come back. For example, the Tories in the UK were wiped out in the 1990’s. Now they are on a revival. So too shall conservativism rise from the grave. The question is what will the definition of conservatism 10 years from now?
I think in the next decade, the GOP will adopt a more European flavor of conservativism. This may allow Giuliani to run for the President in 2012 or 2016. He is expressing interest in the NY Governorship and has not ruled out another run for the White House.