quixoticy
(noun) — term used to describe the fanciful and utterly unrealistic beliefs or goals of a certain individual or certain individuals. Applicable often to politicians, athletes, their fans and members of the television media particularly. Cases in point include Sarah Palin, Dennis Kucinich, Ralph Nader, Sean Hannity, Fred Thompson, Newt Gingrich and anyone who thinks Tottenham will finish above Arsenal.
Sarah Palin's attempt at another public office makes even Fred Thompson's quixoticy look sensible.