Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Friday, November 1st, and that means it's time for the Friday 5.

Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it,

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breakdown pod. All right, friends, we are back with another Friday 5 with me and Scott Melker,

and today's episode, I think, is just a perfect encapsulation of the last three to six months,

which have been totally defined by the election cycle, by the ETFs.

We get a chance today to kind of summarize all of that and take a pulse on where we are

in our last Friday 5 before the U.S. presidential

elections. It's a good one, so let's dive in.

Another week where it seems like a thousand things happened. We're no longer in the

boring stages of the cycle. Good morning, man. How are you? Great. How are you? I'm doing well. I'm McLaren.

You are Mercedes again. We didn't plan it. We didn't plan it, but it's happening. So listen,

we got to give an honorable mention really quick just because it happened this morning. We obviously

got non-farm payroll job numbers. And I had to check four times to see if this was correct.

The U.S. economy adds 12,000 jobs in October. The expectation was 106,000. This is the lowest print

since July 2021. Now, unemployment was in line, but these are exceptionally low job numbers.

And surprise, guys, I know you're not

going to believe this, but they revised the last two strong months down 81,000 in August from 159

to 78 and September, that huge print we had, down 31 to 250 from 254 to3, and just days before the election here.

...