FE Expert
Fire Emblem expert
To build any third party large enough to seriously threaten the established two parties in both Congress and the Office of the President would require the majority of states revising their ballot access laws, which, in a majority of cases, were signed into law as such in order to prevent the rise of third parties. New England is the region most ready to support third parties (Vermont and Maine most notably, with New York State having two state MPs from third parties)
That would (finally!) force the established parties to make their policies better defined should that gambit succeed. With two parties, policy making is watered down to a point where it doesn't matter to the voting public anymore.
There are two or three viable contenders for 2012, as far as I see it:
The Green Party (with Nader as its Presidential nominee)
The Libertarian Party
The Reform Party (with Ventura as its Presidential nominee)
Jesse Ventura is credited as being the last third-party governor (Minnesota) from recent history. He was officially victorious as an Independent but he was technically a Reformist.
I know that the public is usually more willing to go vote in multi-party nations than in two-party nations.
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As far as Jindal is concerned, pollsters (even the ultra-conservative Fox News) do not give him more than 9% in Republican primary polls.
On the other hand, Palin is given victory in two polls pertaining to Republican primaries and Republican nomination for a couple of polls pertaining to the general election. Never Jindal was considered by pollsters outside of Louisiana.
However, if you're speaking of Louisiana... either Palin or Jindal would win the state; we do not know about Huckabee or Romney. Jindal could, at best (if there is no radical change among Republicans) be the running mate of either Romney, Huckabee or Palin.