This is inspired by a conversation I was having with some Libertarians today, which was interesting in places, but kept getting hijacked by conspiracy theories, enthymematic racism and a debilitating fear of Barack Obama (these things from some, certainly not all, of the participants).
Little snarks about Obama being stupid, etc., are meaningless to the vast majority of Americans, and even concerned activists. It's obvious to anyone with a kindergarten education or higher that Obama is a hundred times smarter than Bush. It's not about being smart. It's about whose interests you serve. Obama and Bush serve the interests of the same class. Teleprompters jokes, birth certificates, and what his wife wrote in her MA thesis are all loser issues. Unemployment, constitutional rights, and wars are all winning issues.
Unfortunately, even smart Libertarians seem to drink the koolaid if it means increasing their numbers. And even some of the smart ones have some nationalist baggage they need to re-think.