The document summarizes a presentation given at the Robert Half Business Breakfast at the Hyatt Regency on March 17th. It discusses how high levels of debt led to an economic boom that masked underlying issues, and how dealing with this debt will impact the economy going forward. The deleveraging process has only begun and will likely last 7 years, requiring increased saving and reduced spending. This will make retaining talent more difficult as labor markets become mobile, taxes increase, and spending growth remains weak.

1. How the world (and NZ) got in this mess and how we (might) get outRobert Half Business Breakfast, Hyatt Regency, March 17

2. Giant debt boomRobert Half Business Breakfast, Hyatt Regency, March 17

3. The growth was falseRobert Half Business Breakfast, Hyatt Regency, March 17

4. Bigger than 1929Robert Half Business Breakfast, Hyatt Regency, March 17

5. Big fat ATMRobert Half Business Breakfast, Hyatt Regency, March 17

6. Printing machineRobert Half Business Breakfast, Hyatt Regency, March 17

7. Pass the parcelRobert Half Business Breakfast, Hyatt Regency, March 17

8. Debt fuelled spreeRobert Half Business Breakfast, Hyatt Regency, March 17

9. Bubble pumped upRobert Half Business Breakfast, Hyatt Regency, March 17

10. So what happens now? Deleveraginghas only just begun Robert Half Business Breakfast, Hyatt Regency, March 17

11. 7 years long25% of GDP=NZ$45 blnRobert Half Business Breakfast, Hyatt Regency, March 17

12. Saving moreRobert Half Business Breakfast, Hyatt Regency, March 17

13. Weak spendingRobert Half Business Breakfast, Hyatt Regency, March 17

14. A few longer term issues to considerRobert Half Business Breakfast, Hyatt Regency, March 17

15. Rising interest ratesRobert Half Business Breakfast, Hyatt Regency, March 17

16. Variable cheaperRobert Half Business Breakfast, Hyatt Regency, March 17

17. DDD credit ratingRobert Half Business Breakfast, Hyatt Regency, March 17

18. Skewed economyRobert Half Business Breakfast, Hyatt Regency, March 17

19. Rich avoiding taxRobert Half Business Breakfast, Hyatt Regency, March 17

20. The Trustee boomRobert Half Business Breakfast, Hyatt Regency, March 17

21. Bad at business?Robert Half Business Breakfast, Hyatt Regency, March 17

22. Mind the GapRobert Half Business Breakfast, Hyatt Regency, March 17

23. One big boomRobert Half Business Breakfast, Hyatt Regency, March 17

24. Battle of generationsRobert Half Business Breakfast, Hyatt Regency, March 17

25. So many old, sick peopleRobert Half Business Breakfast, Hyatt Regency, March 17

26. Indebted futureRobert Half Business Breakfast, Hyatt Regency, March 17

27. Indebted futureRobert Half Business Breakfast, Hyatt Regency, March 17

28. Indebted futureRobert Half Business Breakfast, Hyatt Regency, March 17

29. Retaining talent in an indebted future where labour markets are mobile, taxes are high and spending growth is weakRobert Half Business Breakfast, Hyatt Regency, March 17

30. Fun places to workMoney not so importantReform importantHome is importantDebt is badSpending is badRobert Half Business Breakfast, Hyatt Regency, March 17