Welcome to the weekend bite presented by Wall Street breakfast. I'm Leslie Osman.

China is up in arms following Nancy Pelosi's visit to Taiwan.

Biden is scheduled to sign the CHIPS Act, boosting U.S. production to semiconductors, and are we a recession or not?

Economists and all sides of the spectrum have their opinions.

Joining us today is the Winter Warrior, Seeking Alpha Marketplace author David Alton Clark and US Army veteran.

Thank you so much for your service, David.

It's great to have you.

Thanks, it's great to be here, Leslie.

I have to start off with the burning question.

The economy shrinks for two consecutive quarters,

and the last 10 times this has happened.

The National Bureau of Economic Research and the

U.S. government declared a recession. What do you think? Why or why hasn't the

current state of the economy been declared in a recession?

Well Leslie, I guess my main point as far as that goes is it really doesn't matter if someone calls it a recession or not, you know, things aren't going so great right now.

It's really hard out there for the consumer. A lot of my friends and Main Street people are hurting right now. That's obvious and I think that's really the

deciding factor you know whether you decide to define it as two quarters of negative GDP or not. I think that's a moot point. I think everybody knows that we're in the middle of some hard times right now because of inflation and supply

chain issues between the east and west.

And the stocks rallied after investors viewed the Fed's recent commentary about forward guidance as dush.

The last time the Fed tightened this aggressively was when Volker was fed chair and caused

the recession.

According to your notes, why do you think the Fed, as you state, hit the

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