MEGAN MCARDLE: “The good news is, the weak dollar isn’t the catastrophe that some people seem to think it is. While it is falling, it will trigger capital outflow, but when it bottoms, US capital markets will become attractive to foreigners. Meanwhile, our export industries will get more competitive. . . . Psychologically, a weak dollar is a blow to our pride. But practically, it was going to have to happen, because Americans have been buying more than they sell for much too long.”