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 out Robert Half Business Breakfast, Hyatt Regency, March 17

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

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

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

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

6. Printing machine Robert Half Business Breakfast, Hyatt Regency, March 17

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

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

9. Bubble pumped up Robert 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 bln Robert Half Business Breakfast, Hyatt Regency, March 17

12. Saving more Robert Half Business Breakfast, Hyatt Regency, March 17

13. Weak spending Robert Half Business Breakfast, Hyatt Regency, March 17

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

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

16. Variable cheaper Robert Half Business Breakfast, Hyatt Regency, March 17

17. DDD credit rating Robert Half Business Breakfast, Hyatt Regency, March 17

18. Skewed economy Robert Half Business Breakfast, Hyatt Regency, March 17

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

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

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

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

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

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

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

26. Indebted future Robert Half Business Breakfast, Hyatt Regency, March 17

27. Indebted future Robert Half Business Breakfast, Hyatt Regency, March 17

28. Indebted future Robert 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 weak Robert Half Business Breakfast, Hyatt Regency, March 17

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