I'd say imprecise, for the sake of short convo. Liberalism in my view is the "normal" ideological superstructure of capitalism, and fascism is the ideological superstructure of capitalism in crisis, when capital needs to violently assert itself to maintain the existing way of things. It's what happens when the rulers can't rule in the old way, but when the proletariat is without a vanguard, or a weak one, and/or the people can't live in the old way.