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I've watched part of the Sarah Palin interview, and I think it's very hard to argue that she isn't woefully unprepared; she clearly had no idea what the Bush Doctrine was.  She is, to be sure, very good at tap-dancing around questions she doesn't know the answer to.   But either other people didn't pick this up, or InTrade investors don't care; McCain is still marching steadily upward.

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Megan McArdle is a columnist at Bloomberg View and a former senior editor at The Atlantic. Her new book is The Up Side of Down.

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