Talk of a serious third party is silly. There is basically zero demand for such a party alternative, and that is reflected in each election. Forget about third parties, because there is little demand for independent candidates. We had two serious candidates of this sort in the past 40 years, John Anderson and Ross Perot, and both faded terribly as the general election neared and people seriously considered giving each their votes. In anticipation of the, "Well, what about a third party for moderates" rebuttal, moderates, by their very nature and personality, are the least likely to take chances on a third party. Militant, laissez-faire Republicans are attracted to the Libertarian Party, while eco-warrior Dems are attracted to the Green Party. Those are generally the types willing to commit to third parties, and they are fewer in number.