Libertarians are confused liberals, or, as Sallow put it, liberals with a poor grasp of reality. They are liberals because they value the freedom of the average person and the rights of man. They are confused, and have a poor grasp of reality, because they think that only government power is a threat to liberty, and that private power never needs to be restrained.
I disagree. I'm neither confused nor have a poor grasp on reality. Unchecked power is a threat to individual liberty. The federal governement has gained a lot of unchecked power since the civil war.
Of course you don't THINK you're confused or have a poor grasp of reality. Who, suffering from those conditions, ever does?
Nonetheless, upon presenting the undeniable truth that "unchecked power is a threat to individual liberty," your first example of this is the federal government. The federal government wields a lot of power, but of all the powerful entities in our society it is the LEAST unchecked. It is checked by public accountability, separation of powers, an independent judiciary, the Bill of Rights . . .
You call the federal government "unchecked" when it obviously isn't, and you don't even mention corporate power, which IS (nearly) unchecked, and which is responsible for most of the misbehavior of the federal government, too.
All of this is evidence that you are, indeed, out of touch with reality. Your heart's in the right place. Your head, unfortunately, is not.