Fallows re-states the risk of the path McCain is going down as epitomized by Palin's speech:

I've learned through the years that it's very hard to judge political turning points in real time. But my guess is that the last twelve hours will be seen as the moment when McCain pushed all his chips into the pot to bet on a "mobilize the base" strategy. Given the fundamental math in this election year, that would also be the moment when it became very hard for him to win.

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