@Purple:
Millenial Dispensationalism for dummies, please?
It's sometimes called Dispensation Millenialism as well. It's not an organized denomination either so much as it's a belief system held by a lot of American evangelicals.
Millenialists believe that there will be a thousand year period where Jesus rules the Earth directly; there are two major schools of thought on this. Some (premillenialists) say that it'll happen before the Apocalypse and others (postmillenialists) say after.
Dispensationalists believe that God interacts with humanity in phases or dispensations (including the period of Jesus' Earthly reign mentioned previously; Dispenationalism started as an offshoot of PreMillenialism), that Israel as a nation and a Church are distinctive entities, and that the Second Coming of Jesus will result in the souls of the faithful going straight to Heaven in The Rapture. Then there will be a seven year period of darkness and chaos for everybody else where the Antichrist rules the world. Then Jesus shows back up, kicks him in the crotch, and then it's a thousand years of peace and harmony. Well, except for everybody that wasn't raptured seven years earlier since those people are now in Hell.
So, according to Millenial Dispenationalists, Israel as a political entity needs to exist for the Rapture to occur (where politics are concerned, this means that the sole objective of the United States is to guarantee that continued existence), but Jews aren't really God's chosen people so they're basically damned along everybody else that isn't saved. They're also pretty much of the opinion that the Rapture is right on the verge of happening at any given moment.