Via Sullivan, a dead-on analysis from Rod Dreher:

1. The modern conservative movement began with the crushing defeat of Arizona Sen. Barry Goldwater in the 1964 presidential race. The modern conservative movement ends with the crushing defeat of Arizona Sen. John McCain — who took Goldwater’s Senate seat upon his retirement — in the 2008 presidential race.

2. Modern liberalism began its implosion with riots in Chicago’s Grant Park at the 1968 Democratic Convention. Tonight, modern liberalism is reborn at Chicago’s Grant Park, where a black Chicago Democrat will celebrate winning the presidency.