Canada just had an interesting election. Conservatives won, but do not have any ideological partners to truly partner with to form a majority government. So they are going to have to tack left to come up with one. The closest (for you Canadians, I am taking the read on this from our Local JU Canadians) to them are their arch rivals, the Liberals. It will remain to be seen if they can govern that way.
In the US we have a nice staid 2 party system. The "them" vs the "Us". You can assign who you want to to each. But one of the parties is starting to fracture, and fracture badly. So far it is merely cracks, but some of the leading politicians in that party are now taking up the mantra of the extreme part of their party, while others, the more pragmatic ones, try to remain close to the center and hold on to the extreme fringe.
But if you have not guessed, the fracture is coming upon the left. And the fringe are the constituents that would never vote for a conservative (the other party could given the right circumstances), or anyone who compromises their extreme agenda. They are going to far as to heckle some of their most popular leaders and threatening to run against them.
The left is coming to a crossroads. And the choice they make may well define politics in America for the 21st century. They can tack back to the left and embrace their fringe, thus assuring that they will not lose them, but that assures they will lose any nationwide election. For their fringe is much too radical to the large center of American Politics, so they could never hope to gain any support from the ones right of their fringe.
While that is a feel good option for the left in the short term, it is a losing strategy in the long term.
The other option is to dump their fringe and tack more towards the center (note: I did not say tack across the center). They would then be able to win Nationwide elections, although they would doom their legislative - at least at the national level - to a minority status for the short term (for many years in all probability). But having the White house means a lot in politics in America, even without majorities in the house and Senate.
Will American soon get a new 3rd Party? We will see. But one thing is for certain, the fringe is not going to win the presidency in this century.