Wall Street analyst Warren Pollock said six months ago that the “damage control (about the bad global economy) was going to start to wear off in 2015.” What are the signs the spin is wearing off? Pollock says, “Go to your super market, and that is a sign the damage control is wearing off. Prices are going up, and the quality of food is going down. The numbers of ounces on each package are going down . . . This is the damage control wearing off. A lot of people don’t have that purchasing power, and they won’t have that purchasing power in deflation or inflation. When framing an issue, why do we even frame it as inflation or deflation? Why not just talk about purchasing power? Ask our government, how come my purchasing power has gone away. Why do I have to take a seven year loan to buy a car?”
Pollock contends we are headed for a big failure and says, “For sure, and the small failures are expressing every single day, and they are absolutely noticeable if you care to notice them. . . . Look at the legislation they are passing. Look at changes to the law in terms of banking and derivatives. Before the mortgage blowup, we had changes to the bankruptcy law. Before student loans blew up, there were changes to the bankruptcy laws. Before derivatives blow up, there are changes to the law and how they are handled by the FDIC. They just did that in December. That’s predicting a coming derivatives market failure absolutely.”
Pollock goes on to say, “We might have a dramatic inflection point such as a nuclear reactor exploding or a war with Pakistan. That is an area where the press sort of leaked out the reality. They did this in a show called “Homeland,” and they were smacked down because they were talking about Pakistan. They were told not to talk about Pakistan.”
On Israel, Pollock contends, “My perception is Israel is really irrelevant. . . . Israel from a U.S. standpoint is absolutely irrelevant, and that is something Israel recognizes because it is getting closer in back channels with Saudi Arabia. It is getting closer with Russia, and Israel has no choice other than to do this.”
Pollock also predicts, “There’s going to be two competing ideologies in the world. One is consumerism, and a lot of people in China have been bought off by consumerism. The other is Islam and a fight between Islam and Islam, Islam and Coptic Christians, Islam and the Jews, and it is a religion of instability.
On the war question, Pollock says, “Absolutely, we are headed for war because there is no truth. Without truth, war is the greatest expression of failure that there can be. . . . I think we could see an inflection point this fall. You can see it in the politicking between Republicans and Democrats. You can see it in the rhetoric against ISIS. You can see it in relation to the changes in the laws in relation to the handling of derivatives. You can see it in the prices of food in your grocery store.”
Join Greg Hunter as he goes one on one with big picture financial analyst Warren Pollock.
(There is much more in the video interview.)
After the Interview:
Warren Pollock has no website, newsletter or book to promote. He comes on to USAWatchdog.com to give guidance to people trying to make sense of our complicated world. Pollock says to survive in the future, you have to, above all, be flexible.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.