Nzmea presidents functionmay13christchurch

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Bernard Hickey delivered a presentation on the outlook for NZ exporters to the NZMEA on May 13 in Christchurch

Bernard Hickey delivered a presentation on the outlook for NZ exporters to the NZMEA on May 13 in Christchurch

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  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.
  • Numbers at end of 2007. Net worth tripled since 1997. House value tripled since 1997. Mortgages tripled. Shares doubled.

Transcript

  • 1. Why debt reduction will dominate the 2010s and what it means for Kiwi exporters
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 2. It’s all about de-leveraging and less foreign borrowing
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 3. Bigger than 1929
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 4. Big fat ATM
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 5. Lending collapse
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 6. Same here too
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 7. Bubble pumped up
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 8. So what happens now? Deleveraginghas only just begun
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 9. Pass the parcel
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 10. Bond vigilantes“I used to think if there was reincarnation, I wanted to come back as the president or the pope or a .400 baseball hitter. But now I want to come back as the bond market. You can intimidate everybody.”James Carville
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 11. 7 years long25% of GDP= NZ$45 bln
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 12. Saving more
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 13. Weak spending
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 14. Weak lending
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 15. Rising interest rates
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 16. What’s different this time?The Core Funding Ratio is what’s different
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 17. Less hot money
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 18. Signs emerge that less hot money means a more stable (and lower) New Zealand dollar
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 19. NZ$ stability?
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 20. NZ a suburb of Australia, which is a province of China
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 21. One big boom
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 22. NZ exports to China have risen 140% in two years
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 23. We are the other lucky country
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 24. Our Australian links, the Chinese miracle and a less volatile NZ$ are good signs
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 25. We face lower growth, slower lending and a Chinese flavour to everything
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 26. The caveats:A Chinese bust.A hollowing out.Aussie exodus.Failure to reform.
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey
  • 27. Mind the Gap
    NZMEA President's Function, May 13, Christchurch, Bernard Hickey