hello and welcome to cross top we're all things are considered i'm peter lavelle as the culture war 'd rages on a baited the billionaire class is only getting well you know their wealth has skyrocketed 20 percent or 5 $184000000000.00 since the start of the pandemic slash law how will his back shape the coming recovery and is a permanent underclass the new normal. to discuss this and more i'm joined by my guest richard wolffe in new yorks he is a professor emeritus of economics at the university of massachusetts amherst as well as the author of the recent books understanding socialism and understanding marxism and in chicago or which he has a chief marketing strategist. trading all right gentleman stop rules in effect that means you can jump in time while i was appreciate todd let me go to you as you just heard in my introduction you know that we have an ongoing deep recession i think as of this morning the i.m.f. came out with their global projections and. a contraction of about 5 percent locally the u.s. doesn't do much better the industrialized world is more or less in the same pos