Wall Street Wise Guy: We Are in a Recession, Bernie Sanders Is My Guy

Asher Edelman, founder of Edelman Artz, discusses his views on the U.S. economy, which he feels is in recession. Also, insight to his investment strategy.

BETTY LIU: You say that we are currently in a recession. Every Fed official who speaks to us tells us we are not in a recession. What are they missing?

ASHER EDELMAN: I think it's pretty straightforward. The average American has not had an increase in pay in 15 years, but things have cost more in the market places. He has been in a recession for 15 years. Nothing has changed for him. Up at the top, we're not in a recession. But 80 percent of the Americans have been in a recession for at least 15 years.

LIU: So how does that translate into investing into the stock market? Is it that it's a recession that nobody...seems like nobody realizes we are in one and certainly nobody realizes we've been in one for 15 years.

EDELMAN: Who is your nobody?

LIU: I think the broader investing public. If you polled anybody on the street or anybody on this desk right here...

TIMOTHY SEYMOUR: Sounds like you're talking more about financial oppression than you are economic decline. I get the fact a lot of people aren't doing as well because, structurally, society isn't rewarding them maybe where they should...I'm not going to get into that.

EDELMAN: That's a social issue. I'm talking about money and economics. People can buy less for what they have now than they could 15 years ago. In their lives, that's a recession.