Wattle Partners - Monthly Market Update - Feb 2023

Wattle Partners founders, Drew Meredith and Jamie Nemtsas, review the events of the month covering all things investments, markets, economics and strategy.
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[@F14-talktomegoose]

always been intrigued how retail sales are determined , I've heard the ABS pulls data from credit card companies , however my business gets paid majority by bank transfers , so how does that get captured ?

[@F14-talktomegoose]

In my view the RBA has always been a one trick pony , I've never had it explained to me how raising interest rates locally can bring down inflation when its being driven my international events . Even the treasurer concedes that inflation is being caused by war in Ukraine , global supply chain etc etc. So, by example , cost of oil is a major contributor , so how does raising rates here bring down the price of oil which is set / manipulated by a global cartel called OPEC ( ACCC - one for you, here is a cartel which is quite open in its manipulation of oil prices , but seems a bit hard for you local cartel busters) . Or here's another , many years ago the banana crops in QLD got wiped out leading to huge price increase in bananas which were included in the RBA's basket of goods for determining the CPI . So what did they do ? of course raise rates , I bet that helped the farmers plow in new crops . Anyone willing to explain this to Joe Average ?