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George Pollack: latest market views
Signum Global Advisors
Summary
George Pollack is a Senior Analyst for U.S. and Canada policy at Signum Global Advisors in Washington, D.C., a former legislative assistant to Rep. Peter King and legal fellow for Sen. Kirsten Gillibrand.
Chorus has 6 views from George Pollack across 2 episodes on Bloomberg Surveillance since October 21, 2026.
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Vance's commentator-politician role makes a 2028 Republican nomination less likely.
Pollack says Vance cannot be both a commentator and a policymaker, and that the approach is not the best solution. Vance still has the vice presidency and some support in the administration, so a run is possible. But after the midterm performance and his approach to campaigning, policy and politics, Pollack expects the next Republican nominee to be someone not tied to the administration. He sees DeSantis able to distance himself, while Cruz still needs White House relationships.
“...after the midterm performance and... moreover, vice president Vance's approach to campaigning, policy, and politics... I would imagine the next nominee for Republicans will likely be someone not affiliated with the administration.”at 11:33
Bloomberg Surveillance: Bloomberg Surveillance TV: November 5th, 2026 ·
AI infrastructure & data centers
Texas Democrats could move anti-data-center laws; data centers face a rough couple of years.
Pollack says Democrats now hold the Texas governorship, the state house and the lieutenant governor who controls the state senate, so they could move anti-data-center legislation. Only six Republican votes are needed to bring a bill to the Texas Senate floor and four to pass it, since data centers are a bipartisan issue. Across states, voters mobilize against data centers as soon as they hear of one, even on rumor, and tax benefits will not move them. He expects a rough couple of years for data centers.
“most states from Utah, Minnesota, Florida, New York, Pennsylvania, Maine, as soon as the voters hear about the very idea of a data center, they mobilize... I think we're in for a rough couple of years on data centers.”at 14:06
Bloomberg Surveillance: Bloomberg Surveillance TV: November 5th, 2026 ·
Hegseth is likely to be removed as defense secretary, following Bush's Rumsfeld precedent.
Pollack notes that after a poor 2006 midterm, President Bush removed Defense Secretary Rumsfeld as one of his first actions. He expects many in the administration want Hegseth to follow that precedent. Hegseth's talks with Marsha Blackburn about a possible Senate appointment suggest he is reading the tea leaves. Reports about his wife being paid by lobbyists tied to the defense industry are likely meant to pressure the president to move on.
“I imagine there are many in the administration who want secretary of defense or secretary of War Hegseth to follow the same precedent.”at 15:05
Bloomberg Surveillance: Bloomberg Surveillance TV: November 5th, 2026 ·
AI infrastructure & data centers
Voter opposition to data centers goes beyond money, so the electorally rewarded message is anti-AI.
Pollack says developers are already offering community payments, such as teacher bonuses in Louisiana and property tax relief talk in Virginia, but these don't move votes. Voter concern runs deeper: property values, energy costs and local NIMBY sentiment. He argues the winning electoral message is anti-data center, citing Sherrod Brown's polling lead from leaning into that message. He says the pro-AI national security argument is correct but electorally ineffective.
“the voter concern about data centers goes well beyond the money. It goes to the effect of their property values. It goes to the perception of the impact on their energy costs.”at 14:10
Bloomberg Surveillance: Bloomberg Surveillance TV: October 21st, 2026 ·
Texas will go Democratic: Talarico's no-scandal message is resonating against Paxton despite Republican spending.
Pollack still expects Texas to go blue. He says he avoids reading early voting data because anyone can tell a story with it. He points to Republicans increasing their spending without Paxton being able to push back on Talarico's message. Talarico's final ad stresses that he has never been indicted, investigated or impeached, which he expects to be compelling in a state where corruption is top of mind for voters.
“I still have Texas going blue. While I always avoid looking at early voting data because anyone can tell a story with that data, I do find that with even Republican increasing their spending...”at 15:12
Bloomberg Surveillance: Bloomberg Surveillance TV: October 21st, 2026 ·
A corporate tax hike to 25–28% is likely early in the next Congress, if Democrats win the Senate.
Pollack says there is legitimate concern that a deal could raise the corporate tax rate by four to seven points, from 21% to 25% or 28%. This could ease bond market and deficit worries. He argues that a Democratic Senate, with Elizabeth Warren as banking chair, would make this more likely. He expects any proposal in the first six months of the next Congress, since investigations of the president and corporations would make deals harder after that. Politically, few want to defend corporate taxes.
“there's legitimate concern that they can work on some kind of deal to increase the corporate tax rate by [four to seven points]... from 21 to 25 or to 21 to 28.”at 16:14
Bloomberg Surveillance: Bloomberg Surveillance TV: October 21st, 2026 ·
Shows
- Bloomberg Surveillance · 2 episodes
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