And throughout this turmoil China had succeeded in combining an astonishing rate of growth with social stability.
Has anyone bothered to think through the shrinking demographics of many nations with respect to the growth rate going forward of social media?
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By comparing the projections contained in the 13 annual reports from 1998 through 2010, it is possible to discern what real GDP growth rate is required to keep Social Security solvent.
This rate of economic growth would solve the financial problems of Social Security completely.
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In reality, social media was never going to reverse the downward trajectory in the rate of job growth.
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Pinterest recently registered 8X growth in Latin America, not surprising given the huge rate of adoption of social media tools among Latinos.
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At real GDP growth rates above the real interest rate on government debt (estimated by the Social Security trustees at 2.90% for the federal government, state interest rates are comparable), the PVIH of future GDP is infinity.
An average annual real GDP growth rate of 3.5% would make all of the financial problems of Social Security disappear, with no tax increases and no changes in benefits.
In fact, the basic math says that we should be willing to do anything literally anything that is required to get our real long-term GDP growth rate up above the real interest rate on federal debt (assumed by the Social Security Trustees to be 2.90%).
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And the economy grew at an annual rate of 2.5 percent in the January-March quarter a decent growth rate but one that's expected to weaken in coming months because of the higher Social Security taxes and federal spending cuts.
Alongside the growth of social networks, use of communications tools like IM and webmail applications continued to grow at a significant rate.
We expect the growth to continue, going forward, albeit at a slower rate as it strengthens its position in social media where it is up against Facebook and Google as well as in the job search space where it competes with Monster.
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In a similar way, the rate of growth going forward will dominate the fiscal position of the federal government and the viability of Social Security and Medicare.
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