How can mobile can be blamed, if total clicks are up 33% over last year? Cost per click is down 15%, so something else is going on IMO. Sounds like people are clicking, but they aren't concerting. How many power advertisers removed targeted Adsense units because of Panda "shallow content" concerns? What about people like me who were spanked so hard by Penguin, they lowered their Adwords budgets?