target 16 to 24, page-66

My numbers are right. it will be under $25 by xmas if not sooner.

1. Job keeper and low interest rates has held up the economy.
Less profits in retail because there is high consumer debt and interest rates will rise making credit expensive.
Household debt has risen which results in less disposable income.
Higher interest rates will also increase company debt and reduce company profits.

2 Low interest rates has resulted in investors chasing higher yield pushing the share prices to high Pe ratios.
Share prices will fall as investors expect high yields as interest rates rise the reduces share price valuations.