dylan. >> mean man, mean man. >> the show starts -- >> all right. good afternoon to you. it's a friday and i am dylan ratigan. this is not just any friday, a jobs friday, the first friday in june. unfortunately for 30 million jobs friday the reality is more like a 69,000 jobs friday, you know what i'm saying? that's the number of folks that found work last month. the total a bit inaccurate as a gauge did tick up 8.2% in may. they say that's in part because of a slightly higher number of folks actually looking for work. the number that joined the search, that's the largest surge we've had. ultimately the bottom line, 362,000 jobs added a month for the next three years would repair the damage done since the financial crisis, 6%. right now we are -- well, you know where we are. nowhere near what we need.

if it is a jobs friday, of course, it is time for our watson and crick of the economy. peter and johnson are here. this is even below -- i would have been a fly on your wall in your office when you saw the headline. tell us your reaction. >> this is lower than a snake's belly. like calling play by play at a funeral. just terrible. we didn't use the period of grass provided by the stimulus to fix a lot of the things that were broken as per, you know, this gambling going on in jpmorgan instead of banking, and now with the trade deficit and the bad banks and all the rest of the things we talked about, we don't have a lot of money left to stimulus and we don't have a lot of options before us any more. i can't say the republicans have helped. >> jerod, here's what's really frustrated me, since i left cnbc and even tried to have this conversation, i may be naive, but i was of the belief that there would be a conversation

about restoring capital requirements, restructuring the banks, addressing trade imbalances, simplifying the tax code, all the things that the three of us and many other folks know dictate flow of capital and flow of capital's either coming in or it's going out, whether you're a country or a person or a company or a -- doesn't matter what you are. the duration of this debate, meaning from the beginning of the obama presidency till now, has never revolved around the dysfunction and the flow of capital, banks, taxes or trade, and there is no evidence that mitt romney's presidential afront to this incumbent president will have any of that either. and at this point i've concluded that it's because both political parties receive so much money in payoffs from banking, tax related and trade industries, that they'll do anything other than have to restore one set of rules and actual transparency and all the things we can talk about how to do for any of those

thing, then point fingers at each other for whose fault it is. >> there's so much in there, i'm not sure exactly where in that grab bag to start. >> wherever you want. >> well, i agree with a lot of what you and beater have said so far. just two points. two actually fairly small points of disagreement. one is that there does -- there are more capital requirements, certainly not enough by any of our measures, but there are more capital requirements in dodd/frank. i've had people explain to me who have a pretty good feel for this, that one of the reasons why jpmorgan actually was a bit more prepared than they would have been otherwise is because of that. put that aside. the other point that peter made, he said that we're kind of running out of money, vis-a-vis stimulus. one thing to keep in mind is the cost of borrowing because of this recent economic slowdown is so very low that markets are basically shouting at us to actually borrow and stimulate. i do think it's very much correct to look at the really dismal kinds of numbers we've

been looking at today, go back a year or at least go back to september of last year, look at the american jobs act. if we had implemented those programs, we'd be in better shape today. >> what is your sense, peter, of this presidential debate, the refusal up to this point to have any meaningful debate on tax simplification, any meaningful engagement on trade with china, any significant reversal of the culture of gambling and the financial markets and are you optimistic that those issues will come to bear in this presidential debate? >> i think that with regards to taxes, it will be a very important debate, but the president will hone in on fairness and basically his envy tax. and that unfortunately, won't really take us down the path of simplification. you have to have some common objective in terms of what the progressiveness and the structure of rates should be, then you simplify from there and the two sides don't agree. on china, romney's been back

pedaling. i don't know by the time we're done that there willy about much much difference between become bm and romney other than he says you're a manipulator and doesn't do anything about it. romney says he want to fix dodd/frank, but he doesn't tell us what the fixes are. i'm thinking this is a much advertised play with no plot, no storyline. >> i agree. so let us go to the apollo 13 framing, hopefully not to that degree, which is jared, how do we fly the ship that we currently have so we can sit here forever and talk about what the ship can do -- >> i'm glad you asked me. i just wrote a piece on exactly this. at least four things we can do. in order of political plausibility. first of all, the federal reserve said that they would do more quantitative easing if they got worse, things just got worse. they either got to pull that

trigger or stop pretending there is a trigger there. here's something thang would make a difference. i hope i'm not dreaming here. we're facing this fiscal cliff and this debt ceiling debate. two big self-inflicted wounds that, boy, this economy doesn't need that last week but it sure doesn't need it now. one thing we really ought to see is enough members of congress who feel the urgency of the moment who are willing to put partisan plit cannolitics aside, at least we can do no harm. and now i'm into implausibility. we really need more fiscal relief particularly at the state side and on the infrastructure. >> your first two is if the federal reserve says it has a bullet, shoot it or talk about it. whatever they do, it would ge political. then the do no harm clause seems to be the easy and big ask -- >> well, if anything were easy. >> easy for us to say. >> with regard to the fed, that trigger's already been pulled by all that european money coming here.

they've pushed down the long rate so the yield is getting very close to flat. i would love to have an error on good feeling, because i wonder if there isn't the possibility of doing something with china, devaluing its currency and so forth, but i can't see mr. obama and mr. boehner sitting in the same room before november 8th or 9th. >> you think that would be a prerequisite for do no harm? >> i think it would be. the idea is to say we've had all these squabbles, we disagree on a tremendous amount of thing, but the urgency of the moment requires that at least we don't make it worse. >> peter? >> well, i agree with that, you about unfortunately, in ts political season and given the base level that the debate has fallen to already with regard to character and equity, you know, private equity and also the character of the president and how he spent money, i just don't see that happening. i don't see these two sides

hugging and making up for more than a year. >> what's your apollo 13 list, peter? >> i would like to do something about trade with china right now tomorrow morning at 9:00. if china won't revalue its currency up substantially, cut that. and i'd like to see more drilling of foreign oil. then i'd like to look at stimulus to go with it knowing that the stimulus would carry us through until we saw those positive effects of those things which take three to six months to really bear fruit. >> you got to think if there was ever a summer to take this type of conversation off of cable tv and into a room where you can talk about it for a period of time, boy, this is the summer. >> you said it. >> obviously, we'll make our noise outside the castle, but we all know the score. nice to see you both. peter, jared, take care.

you heard from jared and peter, the panel champing at their bit to have their say. an ever-weakening jobs market not to mention a proposed drink ban here in new york city. who is the king around here, people? today the official start of the 2012 hurricane season. we've got storm watching for you. the mega panel will not be doing that. we'll talk to the weather expertses about the hurricane. the japanese fleet will have beefed-up security after its last season was cut short by the sea ship and anti-whaling group. >> as word of japan's return to whaling spreads, the sea shepherds are stunned to learn that their war is not over. >> yes, whale wars, the sea shepherds coming ashore to talk to us this afternoon. we've got a show for you here, to say the least. hey, the new guy is loaded with protein!

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with today's jobs report, it is clear that we have work to do, although this is the 27th month of increased and continued job increases in our economy, it is certainly not enough. >> the american people are in a desperate spot. millions of americans have lost their jobs, are looking for work, and it's time for us to change course and have real poll sis that will put americans back to work. >> that, of course, the spin on the hill. here's how it's playing out on the campaign trail. >> we've got a lot of work to do before we get to where we need

to be. and all these factors have made it even more challenging to not just fully recover but also lay the foundation for an economy that's built to last over the long term. >> the president is always quick to find someone to blame. first, it was george bush, then it was congress, atm machines, europe, he's always got someone, but the truth is the job of the president is to get america back to work. >> well, let's bring in the mega panel. krystal and rob are here, there's no question that the job production, since the financial crisis, has yet to ever -- i mean, we've had these moments where you had nice weather this winter so there was some construction work that kicked in in february and january, made it look kind of nice. i'm very skeptical as to whether, i don't see anything in this presidential election to suggest that mitt romney is any more likely than barack obama -- not that barack obama is doing anything fabulous, but that both of them are basically on the same path, which is kind of a

nonpath. >> what this is telling us is that what we've been doing for the past three or four years isn't working the way we expected it to. people on the right say the austrian school of economics are going to argue that's because monetary policy and fiscal policy very stimulative of both has failed. on the other hand, you have people say it wasn't stimulative enough. >> and on the other side, you have people that say, we have a structural problem, stop walking around trying to pretend we don't have a structural problem. >> what we do see -- i think the only people who look right economist wise are carmen rhinehart and kendra broguehoff who says this is the many years of debt we've built up in this country. i have to believe that's part of the case. there's just not enough demand out there. >> regardless of the causality, whether you think it's the debt, the tax code, there are two schools that we have a structural problem in america, that requires structural reform

and structural intervention, and we don't. and you've had the obama presidency and tim geithner and the republican leadership both say since 2008, we don't have a structural problem, this is just a normal business cycle. you can quote them, it's not even a debate. they explicitly have made their policy selling us on a cyclical response to a structural problem. >> and i don't totally agree with that and for two reasons. number one, it's not -- >> you don't agree with which part? >> i don't agree that they've totally said this is not a structural problem. because on the other hand, you've got two issues, you have a short-term problem. >> sure, an acute symptomatic problem. >> and that's what a stimulus is designed to deal with. i'm of the school that the stimulus was not enough -- >> fair enough. >> -- totally blocked from doing anything by the republican congress. >> you're bleeding is a hole in the bucket, we're going to stop the bleeding, what do we do for

the fact that you have cancer which as i can tell for the past four years is absolutely nothing, we'll pretend it doesn't exist and hire tim geithner. >> for example, health care reform, that was an attempt to solve a major structural issue. >> come on, come on, krystal. >> no, but -- >> remember -- >> he's not a dictator. >> can i ask the question. how is the answer. so you're saying the president attempted to address the structural reform in health care and i believe that how is the answer, the way you work is determinative of what happens. the president did it by having a secret meeting in private with the drug companies in which he made a deal with them before he engaged. and that alone suggests to me that the president or any of these politicians are not honest actors. let's hear from ari. i'm sorry, i don't have the time. i'll come back to you. >> it's good to be with you outside the castle gates. i hear there's a bucket and there's blood. a lot of metaphors. i understand what you're saying,

part of the problem with health care was it was not structural. it threw money at an insurance industry, it didn't change the underlying -- >> go. >> what i understand krystal to be saying is that's the best deal he could get and that did go towards getting people health care. >> the people who don't have jobs have health care. >> i hear you on all that. to go back to the jobs numbers we're up 0.1% in unemployment. the changes that we're seeing month to month like the debate that we're having is here, it's here in this little narrow part, which is part of what you're saying. the proposals on the table from both presidential candidates here are not about wiring the way that we -- >> i quit my job at cnbc in 2009, i guess it was, on the belief, perhaps naive, that there was large evidence of massive structural problems that clearly we were going to address -- >> okay. let me just move this.

buddy romer gave an interview to "gq" in which he interviewed a doum of people, one of his potential vice president candidates was you. >> that is correct. that is correct. >> why don't you tell us how you would have structurally fixed this? >> from the get-go, the first thing that you've got to do is you have got to deal with the housing market. remember, what was the problem? the problem was the housing market imploded and cratered. >> it was complete capital misallocation. >> complete capital misallocation, the housing market is the beginning of the story, because that's where your collection of revenue is, where you get your unemployment revenue and the local tax revenue and it was manufactured through the collapse in housing and the spike in unemployment. if you don't understand the deficit came from the collapse in housing which precipitated the spike in unemployment, then you do not have any capacity to solve the problem. and instead of actually

resolving housing by restructuring the housing debt, writing down the first liens, restructuring the bank, by doing that with the folkses that would want to do that, of which there is an abundance, go down the list, we've never done that because we don't want to admit that we, politically and financially, subsidized a massive housing bubble for political purposeses that goes back to bill clinton. until we can see that we did this and we screwed it up and it's a failed experiment and we're going to now have to fix it, instead of saying the experiment has failed but it really didn't fail, we're just going to keep doing it is like holding the world's head under water. >> do you say yes or no? >> what i said was you should get to know me a little better before you ask. all right. you may, too, but you better check it out. anyway, back to some local politics around here -- and thank you for letting me offer my opus there. >> i just wanted to no yes or

no, but no, that was good. i think you should publish that. >> we'll put this on twitter for the president. a solution to america's problems right there. >> right there. >> yeah, that's it. seriously. admit the housing problem. >> -- that same solution the other night. so -- >> to the city we go, our city, new york. they're calling him the vice mayor now, i'm not referring to that particular vice. the reaction continue to pour in, however, excuse the pun, on mike bloomberg's proposed ban on sugary drinks larger than 16 ounces from all restaurants, movie theaters, arenas and street carts. he was back on the air today playing defense. >> we're not banning you from getting the stuff. if you want 32 ounces, the restaurant has to serve it in two glasses. that's not taking away your freedoms, not something the founding father fought for. >> you are en fuego here, you're worse than me on housing. >> i live in this city and this

is that nanny bloomberg thing and it's totally out of control and he goes across the country saying how he moderates us. my girlfriend smoke, and you can't even smoke in a beer garden any more. i want to live in a country and a city where people make up their own mind about where and when they do things that are healthy or unhealthy. the fact that the mayor want to go out and tout this as a national type missive -- >> this is what made me want all day, was a giant diet coke, so badly. >> got to be a mountain dew or something. >> you can have it as long as you have two. but why is the mayor telling me how to have it? it's crazy. you need to build up to. >> i understand. i can do the math, yeah. >> i have been wondering why we've had these mugs here for two years. >> youan have two, ari. >> a semiserious point, they have in new york and other place in the country the calories

posted on the menu, more disclosure. that's great. like more education, that's terrific. i enjoy having that there. it's helpful. sometimes you think you're making a good choice but your not. >> isn't there a difference between transparency and me deciding what you can do. >> the effort, the cause of getting people to eat healthier or getting people to feel that it's in their best interests, this takes away from that cause because now you can paint the whole cause a nanny state when it is not providing education disclosure it's not a nanny state. >> david patterson who was the governor of new york, tried to come up with a plan to tax sugary drinks, which actually would have solved this issue in one way. it would have been a market response to it. >> which is what they've done with smoking. >> you've got to pay $13 a pack, look at what -- >> off a cliff. >> at the same time you can direct some of that tax money to

education program in schools. >> this is the same may are who decided he needed an extra term so he bought up a lot of the outside organizations and he granted himself a third term. bad tendencies here. >> it goes to how is the answer and this gives you an indication of how mike bloomberg functions which is a controlling, dictatorial king. >> we're outside the castle. >> would you be his vice president? >> anybody who reforms housing and restructure the liens, i'll be your vice president. the revolution, where this is coming from, our specialist says big changes are coming to america that ordinary folks like you and i will ultimately be the ones who pay for it. ♪ want to be a richer man ♪ changes

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today's specialists argue

that movement things like the tea party are just the tip of an increasing body of proof that it will be individuals and collective collaboration that will ultimately take power back. a former diplomat, our guest, watched the system break down from the inside and says the only way to fix it is through collective collaboration outside the castle, which is today's metaphor. carm ross is the author of "the leaderless revolution" how ordinary people will take power and change politics in the 21st century. basically they have new tools. >> it is not just about new tools but the realization that government is not solving the problems be they economic inequality, volatility or climate change. >> and so elaborate a little bit more as what you see is what's different?

in other words, the pharaohs and egyptians you can go back in the history of government and rich people in the government have been corruptly sort of screwing people over for as long as there have been people in government and rich people. what's different now that you think there's more of an awareness or an acceptance of -- or a loss of belief that the government's going to be the white knight? >> i think it's more brazen now, and i think it's clearer that the problems that really affect us are not being sorted out. i think there's a real -- you can almost sense like a psychic existential concern. they're not reassuring us they're going to sort it out. we have to act. i think there s thanks to technology, a realization that perhaps the means are there in a way that they weren't in the past. >> what kind of people do you think excel in this schematic that you're talking about, this kind of revolution or movement? because when you look historically, there's been a lot of compareness is between the organizational structures that were in this country say in the civil rights era to occupy being

leaderless. martin luther king was 26 when he was tapped to help with the montgomery bus boy conflict. but he waited his turn. occupy was something like the opposite and still doesn't have defined leaders. who excel in this environment? >> well, i think they're slightly different problems. overcoming segregation and discrimination is a singular problem in a sense, about changing a piece of legislation and a practice which is deeply discriminatory. changing capitalism is a much broader problem. it has many different prospects. in a sense, a movement like occupy is there for that category of problems. it has to be tackled in lot of different ways, whether starting new institutions, starting a new bank, protesting or the mere cultural sense that ordinary people can actually take back control of their own affairs. >> just to push you briefly, does that mean it has to draw on people who are more comfortable in that environment? people did identify with occupy and they would look at the general assembly and they didn't feel a place for them.

they felt like it was for students or anarchists. whether that's fair or not, that's what people felt. >> occupy has a much broader church than that. in the working group that i'm part of, a very group, a very regular, ordinary people who are not anarchists or students, although they are part of the occupy movement as well. the whole message of the book is actually you can, yourself, anybody, take power over your own affairs. >> that you're the hero of your own story, basically. >> but it's not as individualist as that. >> that we are the hero of our own story. >> you negotiate with people directly about what most concerns you. you reconnect in a way that's rather absent today. >> one difference between occupy and the tea party is the tea party had a direct electoral strategy. they wanted to impact the system that we have by changing who was in power. occupy has been much more about changing the system entirely. i mean, obviously occupy doesn't have one unified voice, but some of the people i spoke with there saw obama as the same as bush

and we just need to blow the whole thing up. which direction do you see this going in or it is yet to be determined? >> i don't think occupy will ever be putting up candidates for election. it's not about that. while many people who are part of the occupy movement would accept that. it is a leaderless movement, it is quite hostile to conventional politics. a, there's a protest element to it, but, b, there's a growing element that i romney, buddy rom,

it is all unstanl sustainable. if we take over, then we'd arrange the rules and relation lagss like this which is then perfect, which is no longer part of the psychology. is that fair? >> that's right, there's a deep skepticism that electing the right people is the way forward

because that has failed. >> a whole revolution in russia, threw out the o lig arcs and brought in the communists and they were still having the rich people work with the power base. if you don't change the culture nothing changes. you can switch the rules all you want. >> this is right, actually, ultimately this is a cultural revolution as much as it is a political one. it is not about overthrowing the bastille and the communists. >> it is old culture. >> it is a different set of values. i see the workplace and actually the economic unit, the company as being a key place we need to change from being purely a profit-seeking entity to being one that's collaborative and shared cooperatively. >> that's a cultural change. >> which can be very commercially successful as well. >> everybody that i've seen using these techniques in every category which is all we've done the past three years, whether in a school, hospital, energy field, whatever it is, the

unifying principle from unsustainable to sustainable is 80%, to 90% reductions in resource consumption, 80 to 90% reductions in economic costs and 10 to 1,000-x increases. that is not problem of the paradigm. congratulations on the book and for navigating these three. i can barely do it, you know? mega panel, thank you very much. thank you for letting me give my vice presidential speech. i never got the chance and i got it out of my system. >> krystal, i always like fighting with you in public. it was fun. >> i agree. >> ari, i'm equally offended by this whole soft drink nonsense. an outrage against society. should get a working group to get rid of 16-ounce -- next up, don't tell the folks down south but today marks the start of hurricane season. if the pregame action is any

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try great grains banana nut crunch and cranberry almond crunch. all right. here we go again. today june 1st marks the official beginning of the to 12 hurricane season. our friends over at the weather channel are predicted 1 is named storm, 6 hurricane, 2 majors they say, which is lower than the typical forecast, but remember we had two named storms even before the season began. tropical storm beryl was clocked as the strongest may storm in more than a century. what does it mean for all of us, especially our american neighbors to the south? let's ask weather channel meteorologist kelly cass. first off, these calculations are made based on some sort of assessment of air and water temperatures? is that what the origin of this analysis is? >> we do look at the sea surface temperatures. by the way, they're running above average. the anomalies are especially

high across the northeast coast. that's where temperatures are running between five and six degrees above average. may not sound like much, but that's pretty significant. as you mentioned so far off to a busy start. we've already had alberto, we've already had beryl, as you mentioned. the eastern gulf of mexico, also we watched the southeast coast and the atlantic to see if anything want to form. the last hurricane we had during the month of june was a couple of years ago when we had alex in 2010. for major hurricane in the month of june, you have to go back to the 1960s. let's hope we don't see that in 2012. the highest frequency of hurricane strikes. what does that mean? where we see the orange and yellow and the red down in south florida, you need to have a plan and be prepared for this hurricane season. obviously, it only takes one. you have less frequency of hurricanes across the northeast coast, but who could forget irene, right. >> and all the problems it caused?

but we've got a long way to go. as you can see the peak of hurricane season is not until the middle of september. >> kelly? >> yes. >> can i ask you a nonweather related question, while i've got you? >> sure, of course. >> are your feet wet? >> i know, these graphics are amazing. i'm in the surf right now. >> you're showing off, kelly, now you're just showing, all right. thank you very much. the fun of tv. kelly cass, check her out at the weather channel. be sure to check out the premiere of "hurricane hunters" a week from monday at 9:00 p.m. staying on the water, saving whales is their thing, but they're doing some studio time to tell us their story. the sea shepherds are here to talk about their latest season of "whale wars." ny battery will do, consider this... today training depends on technology. and when it takes a battery, there are athletes everywhere who trust duracell. they rely on copper to go for the gold.

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are ready for another campaign. >> when the line is crossed, i'm as good in the fight as anybody, and i'm, quite frankly, willing to die to stop them killing whales. >> last year the sea shepherd conservation society was able to actually achieve much of that mission, stopping japan geez whaling vessels and forcing them ultimately to cease the hunt. they returned home from antarctica with 72 whales which was 800 short of their swended goal, but this year the japanese fleets are returning. they say they have more money, more boats and more muscle. and it may be open season, not just on the whales, but also on the sea shepherds seeking to defend them. joining us, shannon mann, whose season starts tonight at 9:00 p.m. obviously, there's an implicit level of craziness by virtue of

the fact that you are sitting here and already doing this on tv. i guess the question for you is what is -- what's the motivation to put yourselves in the level of risk to do this? and i don't mean to -- i recognize the saving of the whales, but i feel like saving the whales, then putting it on tv is doing more than just saving whales. it's saying we're going to put ourselves on tv doing this and there's a reason, there's some message that you're obviously trying to communicate in doing that. what is it? >> well, i think we're really fortunate that animal planet decided to come on board. essentially they just document our mission. so it's fairly uninvasive. everything happens as it happens, but then they go back to the studio and hash down this year our 83 days at sea into 11 episodes to get the action of the campaign. >> but there's also a benefit for people like myself who watch and others seeing this issue,

which we're largely oblivious to and certainly don't have the intimate detail for. >> yeah, i think that's really the fortunate thing is it welcomes millions of people, family, children, all throughout the world. it brings them down to the southern ocean, down to antarctica, one of the most isolated ocean in the world and they get to experience and see what's going on. >> so what do you two know about whaling, about the entire culture that you're fighting that the rest of us don't that perhaps explains your enhanced degree of motivation? >> well, right now there are three major nations that are doing whaling. japan, which has the largest kind of whaling operation, norway and iceland. the specific reason that we target japanese whaling is they're doing it in a designated whale sanctuary, in the water around antarctica, where whales go down to basically feed, give birth, socialize.

>> in their house effectually? >> yeah, it's a designated sanctuary. >> so it is illegal? last i checked with like the piping clover on long island, if you light a firework in a designated -- they put you in jail. how do you end up with predatory japanese fishing boats in a sanctuary, i guess it's antarctica. >> it is international waters but japan is a member of the iwc, the international whaling commission. but that that nation sets quotas for countries, but japan, rather than saying we want this quota for commercial whaling, that's essentially what they're doing is going down there to commercially whale but they say it's nor scientific purposes. they feel they can get away with it. but nobody even believes them. i don't think they even expect anyone -- >> over 25 years they've never released a respectable piece of scientific data that states what

they're researching. >> they're researching to prove that there should be commercial whaling. >> you say we are going whaling, find some reserve that says we're going whaling. >> you have a scientist that walks around with a clipboard and suddenly it's a scientific operation. >> it's nice that way. let's talk tv for a second. 9:00 tonight,s what the point of entry, what's the story? for those of us who simply want to be entertained on a friday night, you guys obviously are producing more than a crusade. you're producing a crusade that's highly rated and engaging and entertaining broadcasting, which is no small feat. >> yeah, this is the fifth season that animal planet has documented. every year it escalates. there's more aggression, there's more violence towards sea shepherd. each side kind of pushes and pushes back. so this year the japanese whaling fleet was allocated $27 million from the government, which was actually taken out of tsunami relief fund.

so this year they came down with a lot of muscle, a lot of money. >> but tsunami money that was reallocated? >> which is traceable. you can find that. so not only are we up against the conditions of the southern ocean of being in antarctica, we're up against -- >> a well capitalized foe. >> exactly. >> and so they have a ton of money to throw at this issue. and we just have a bunch of volunteers and passion and creativity. >> it's a good story, though. and i think it's really a story for our time, which goes to the whole concept of we are the heroes of our own stories and collective collaboration and show, don't tell, which you guys are doing. congratulations. >> thank you. >> coming up on "hardball," what can the president do to create some jobs? but first, the indigent lori weber with a rant of the week. you do a lot of kayaking? no. whoooa i'm in a river.

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andrew lloyd -- >> i'm committed. you may have thought you were safe after the royal wedding last year, but no. this weekend america is yet again about to be bombarded with images of brand britain. it's not the olympics yet. her majesty the queen is marking her diamond jubilee. the second only monarch in our history after queen victoria in 1897 to have 60 years o on the throne. ships will sail down the river thames with 1 million spectators. so many beacons will be lit, they'll be visible from space. there will be a pop concert

outside buckingham palace. meanwhile, jubilee events planned around the world from new zealand to canada. it is 2012. why is the queen still an official figurehead for 2 billion people? she's about politics, she reigns but doesn't rule. gives a sense of stability and continuity. shines a spotlight on good causes. for the british, the queen is a focus for national identity, unity and pride. other husband prince philip calls the monarchy the firm. they know it is essential they provide value for money. the monarchy costs about $1 per british person to run per year. $61 million. reserve indicates that the monarchy generates over $800 million a year in revenue for the british tourism industry. according to a new study, the family is worth $70 billion as a brand. the sensitive queen apparently set two jubilee planning guidelines. the use of public funds should be minimized and people should

not be forced to celebrate. but the brits have jubilee fever. we're in the midst of a double dip recession. our egos need reminding we can at least put on a unique show. americans ditched the brits in 1776, so why are you suddenly interested? the queen is on the cover of "newsweek" t duchess of cambridge has appeared on seven covers of "people" magazine already this year. we need a fairy tale distraction, special now mp even in republics celebrity culture exists, which indicates we all have a desire to irrationally elevate certain individuals. kim kardashian? when the queen dies it is unlikely that many cultures will keep our monarchy figurehead. few disagree that the queen has selflessly des kated herself to her country. so this weekend we brits say, god save the queen.

dylan? >> now, i can go many ways with this. >> you could. >> to your advantage, there's only a minute left in the show, so i have to pick a direction fairly quickly. >> yeah. >> so i'm going to go the personal route. i can go many ways. >> you could, yes. >> but you i have the privilege of going the personal route. some folks do not know this, but it does so happen that one of your parents is a writer. >> yes. >> and is, in fact, responsible for writing one of the prominent song that's associated with the jubilee, which could, for somebody whose job it is point out conflict of interest, i would high light that, but i won't. >> he's composed a theme song. very cool. you've got an expert, an insider. so be happy. >> i'm picturing you complaining to him that you don't like the song. >> oh, please. >> you would never. >> no, never. >> i would hope not. >> it's chart topping now.

>> can you imagine your children, oh, dad, i never liked this one. >> it has got prince harry playing the tambourine. >> it's a pretty good one. that will do it for us today. i am dylan ratigan. "hardball" with chris matthews is all teed up for you. he'll start with the jobs report starting flight. >> the big chill. let's play "hardball." let me start with this horrific day for the american economy. the stock market dropped 275 points today, wiping out all the gains of the year. we've fallen back to where we were in january. why? because the jobless rate rose today for the first time in a year that vital number went up instead of down. the underlying news is worse. the american economy created just 69,000 job last month, less than half the number