While none of the current batch of currency-devaluing Central Bankers would admit that their policies are designed to weaken the currency, enhance competitiveness, and hail a new bright future of growth for their nation (by printing money), it is clear that is the chosen textbook-based path chosen. However, as the following charts show, it's not working...

Massive devaluation in Japan... economic growth expectations slowing...

Massive devaluation in Europe... economic growth expectations slowing...

And then there's The US...

(though note the last few weeks' surge in the USD has sparked some deterioration in the economic outlook).

Clearly the answer to Japan and Europe's problem is more devaluation...