Ideas on Increasing Adsense?

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My story with Adsense started in about Feb 2008, I set up a couple of blogs with the intention of making money from adsense but didn't see the profits increasing a great deal despite posting lots of new material. I got a bit disheartened and stopped posting and found other things to do with my time. That was in summer 2008 and my account had around $36 in it. I completely forgot about things more or less but this year in Feb 2009 decided to check up on my adsense earnings, to my surprise my blogs had been making a tidy little amount without me doing anything - December it seemed was a particularly good month, I was close to the $100 payout, so started posting again. The months that followed were incredibly succesful - earning about $50 a month but since then despite posting lots of fresh and original content, my traffic has waned and my earnings have lowered again. I've spent quite a while figuring out why that has happened and can only seem to think of two things. 1) Less people browse the web during the summer and people aren't interested in google ads due to the financial crisis. 2) Some of my most profitable articles (click through wise) have lost their page rank due to competitors in the same field. I may have overlooked a lot of possibilities - if you have any ideas why my traffic has waned, I'd be glad to hear. I know that a lot of people make big bucks on Adsense without even really trying, whilst others it seems try their best to get the most of Adsense and things don't really work. Which one are you?!