<html><head></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; "><div><br><blockquote type="cite"><div>Looking at the rest of this list:<br><br><blockquote type="cite">2004: 29.00 /16s<br></blockquote><blockquote type="cite">2005: 14.61 /16s<br></blockquote><blockquote type="cite">2006: 14.01 /16s<br></blockquote><blockquote type="cite">2007: 30.50 /16s<br></blockquote><blockquote type="cite">2008: 8.45 /16s<br></blockquote><blockquote type="cite">2009: 8.37 /16s<br></blockquote><blockquote type="cite">2010*: 5.84 /16s<br></blockquote><br>Doesn't really say much other than 2008 seemed to decline and there's no<br>explanation why, at least one that is obvious.<br><br><br></div></blockquote>Actually, what it says to me is that there was an anomalous spike in 2007</div><div>and otherwise it has generally declined since the beginning.</div><div><br></div><div>Since 2004 is the first year of the statistics presented, it is hard to tell if that</div><div>was a spike or the starting point of the decline.</div><div><br></div><div>Looking at it linearly....(all values rounded up to whole numbers):</div><div><br></div><div><font class="Apple-style-span" face="Monaco">31</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | * | | | |</span></div><div><font class="Apple-style-span" face="Monaco">30 </font><span class="Apple-style-span" style="font-family: Monaco; ">| | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">29</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | * | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">28</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">27</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">26</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">25</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">24</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">23</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">22</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">21</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">20</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">19</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">18</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">17</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">16</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">15</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | * | * | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">14</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">13</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">12</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">11</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco">10</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco"> 9</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | * | * | |</span></div><div><font class="Apple-style-span" face="Monaco"> 8</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco"> 7</font><span class="Apple-style-span" style="font-family: Monaco; "> </span><span class="Apple-style-span" style="font-family: Monaco; "> | | | | | | | |</span></div><div><font class="Apple-style-span" face="Monaco"> 6 | | | | | | | * |</font></div><div><font class="Apple-style-span" face="Monaco">=================================</font></div><div><font class="Apple-style-span" face="Monaco"> '04 '05 '06 '07 '08 '09 '10</font></div><div><br></div><div>To me this looks like the negative side of a parabola on a biennial</div><div>step with an anomaly at 2007. (In other words, returns diminishing</div><div>rapidly at the beginning with a continuing near zero rate over time).</div><div><br></div><div><br></div><div>Owen</div><div><br></div></body></html>