Bill O'Reilly is "fascinated" with Sarah Palin, and has been featuring segments on her a lot of late. He had Glenn Beck on The O'Reilly Factor on Thursday night to talk about her prospects.

They agreed that her upcoming book tour is a "make or break" situation regarding her political future -- but that if she fares well with the media, she'll be well positioned for 2012. They also agree that resigning as governor before had even completed her first term was a "smart move."

Which gave Beck a launching pad for his prophesying mode:

Beck: Smart move. And I think she's also positioning herself for a third party. By the time this election runs around for the president, I'm sorry, but unless the Republicans and the Democrats wake up, a third party will win.

Presumably, by "wake up" Beck means "embrace the tea party philosophy of small government and big wingnuttery". The Democrats won't, but most likely the Republicans will. But I don't think it's going to be the recipe for victory Glenn Beck thinks it will be.