Since S&P have decided to change their web site and not to report this number on a monthly basis, I have retrieved the actual earnings from Bloomberg and devided it by the value of the S&P 500 as of the close of the last business day of November.
Here's the historical chart of this index since inception (in 1936).
(Click for bigger image.)
In the meantime, Bernanke and the Fed are printing like madmen trying to fight the cure of too much debt: a reduction in lending and borrowing and a contraction in monetary and credit aggregate. They have increased the monetary base by over 300% from just about 10 years ago.
Their incompetence is only comparable to the size of their failure. Not only will they not succeed in bringing back inflation in the short term, while deflation is running its course, but they will destroy the dollar on the medium term if they stay on the same track.
You can read the previous posts from this link.