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Despite the strength of the US economy, some experts are issuing warnings of an imminent slowdown, with one saying it will be "worse than the Great Depression."
As Murray Gunn and Elliott Wave International, a financial forecast firm, told the New York Post: "We believe that the major economies are about to experience the worst recession we have seen in the last 10 years.
And economic commentator Peter Schiff told the chain: "We can not call it a recession, it will be worse than the Great Depression. The economy of the United States is much worse than it was ten years ago. "
The central issue of these concerns seems to be an incredibly high indebtedness carried by the borrowers and uncertainty about their ability to repay it.
A recent CNN report also sounded the alarm about the nation's indebtedness, but suggests that $ 6,300 billion in corporate debt exceeds consumer debt.
RELATED: Economies of the largest cities
41 PICTURES
The economies of the 40 largest US cities, ranked
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40. Cleveland-Elyria, OH
Cleveland is home to 11 Fortune 1000 companies, including paint manufacturer Sherwin-Williams.
Cleveland had the highest February 2017 unemployment rate of 5.7% among the 40 largest metropolitan areas, and job growth in the city was the second lowest, with non-farm payroll employment up only 0.3% between February 2016 and February 2017.
Although no Fortune 1000 company is based in Virginia Beach, the metropolitan area is home to many of the country's largest military installations.
Virginia Beach has experienced the slowest growth among the 40 largest metropolitan areas, with the non-farm payroll only increased by 0.2% between February 2017 and February 2018. The metropolitan area was one of only two of the 40 largest with negative economic growth in 2016, with GDP growth rate of -1.1%.
Providence hosts the headquarters of three Fortune 1000 companies, including Citizens Financial Group, the parent company of Citizens Bank.
The Providence Metropolitan Area February 2018 5.3% unemployment rate was in second place among the 40 largest metropolitan areas and the 2016 area Per capita GDP of $ 49,610 was the sixth lowest.
Nine Fortune 1000 companies headquartered in Pittsburgh, including food giant Kraft-Heinz and US Steel.
Pittsburgh & # 39; s February 2018 5.3% unemployment rate was tied with Providence for the second highest among the 40 largest metropolitan areas in the country. The metropolitan area 2016 0.1% GDP growth rate was tied for the third lowest.
36. Chicago-Naperville-Elgin, IL-IN-WI
Chicago is home to 25 Fortune 1000 corporate headquarters, including Boeing and Exelon's giant power utility.
Chicago in February 2018 unemployment rate of 5.2% was in fourth place among the 40 largest metropolitan areas. The metropolitan area 0.7% employment growth rate between February 2017 and February 2018 was the fifth lowest.
Thirteen Fortune 1000 companies are headquartered in St. Louis, including pharmacy giant Express Scripts and Monsanto agricultural technology company.
St. Louis had the third lowest growth rate among the 40 largest metropolitan areas. non-farm payroll employment increased only 0.4% between February 2017 and February 2018. The 2016 region GDP growth rate of 0.8% was tied for seventh place.
The energy industry occupies an important place in the Houston economy, with companies like Phillips 66 and Halliburton having their headquarters in the city.
Houston was one of the two largest metropolitan areas to experience a decline in economic activity in 2016, with GDP growth rate of -3.0%but its third quarter 2017 average weekly salary of $ 1,187 was the seventh best.
The auto industry holds a prominent place in the Detroit economy and the city is home to the headquarters of General Motors.
Detroit & # 39; s February 2018 unemployment rate of 4.6% was the eighth highest among the 40 largest metropolitan areas and its non-farm payroll 0.9% employment growth rate between February 2017 and February 2018 was tied for eighth place.
Five Fortune 1000 companies are headquartered in Philadelphia, including the cable giant Comcast.
While Philadelphia has February 2018 unemployment rate of 4.9% was the sixth lowest among the 40 largest metropolitan areas, its 2016 Per capita GDP of $ 70,928 was the eighth best.
Cincinnati is a city in the US state of Ohio and the county seat of Hamilton.
Milwaukee is home to the headquarters of nine Fortune 1000 companies, including insurer Northwestern Mutual and iconic motorcycle manufacturer Harley-Davidson.
While Milwaukee 2016 0.1% GDP growth rate ranked third among the 40 largest metropolitan areas, February 2018 in the region unemployment rate of 3.2% was sixth best.
Four Fortune 1000 companies are headquartered in Miami, including home builder Lennar.
Miami fell in the middle of our metrics, with its 4.1% February 2018 unemployment rate slightly above the average rate of 4.0% in the 40 largest metropolitan areas and Q3 2017 weekly salary of $ 963 just below the $ 1,095 average.
Accounting giant H & R Block is headquartered in Kansas City.
Kansas City 2016 Per capita GDP of $ 61,320 was just below the average of $ 65,391 among the 40 largest metropolitan areas and its 1.6% employment growth rate between February 2017 and February 2018 was just below the average rate of 1.8%.
Las Vegas is home to the headquarters of some of the largest gaming companies in the world, including Las Vegas Sands and MGM Resorts International.
While Las Vegas & # 39; 2016 GDP growth rate of 3.9% ranked seventh among the 40 largest metropolitan areas, the third quarter 2017 of the region average weekly salary of $ 898 was the fifth lowest.
Four Fortune 1000 companies are headquartered in Baltimore, including underwear manufacturer Under Armor.
Baltimore Q3 2017 average weekly salary of $ 1,087 was in line with the average of the 40 largest metropolitan areas of $ 1,095 and the 2016 area 2.4% GDP growth rate was just above the average rate of 2.2%.
One of the many docks found at Elsinore Lake in Riverside County, Southern California.
While Riverside in the third quarter of 2017 average weekly salary of $ 848 was the lowest of the 40 largest metropolitan areas, its non-farm payroll 3.9% employment growth rate between February 2017 and February 2018 was the highest.
Columbus is home to 13 Fortune 1000 companies, including insurance giants Nationwide and Aflac.
Columbus Metro February 2018 unemployment rate of 3.8% was just below the average rate of 4.0% among the 40 largest metropolitan areas and its 2016 2.5% GDP growth rate was just above the average rate of 2.2%.
The Twin Cities are home to several important headquarters. Target and General Mills are based in Minneapolis itself.
Minneapolis & # 39; February 2018 unemployment rate of 3.3% was the seventh among the 40 largest metropolitan areas, but the non-farm payroll 0.8% employment growth rate was the sixth slower.
22. Phoenix-Mesa-Scottsdale, AZ
Eight Fortune 1000 companies are headquartered in Phoenix, including the Avnet electronics distributor and the Sprouts Farmers Market grocery chain.
The non-farm payroll of Phoenix 3.0% employment growth rate between February 2017 and 2018 was the fifth highest among the 40 largest metropolitan areas, but its 2016 GDP per capita of $ 49,493 was the fifth lowest.
San Diego has six Fortune 1000 companies, including chip maker Qualcomm.
San Diego, February 2018 3.5% unemployment rate was in 11th place among the 40 largest metropolitan areas, but its 2016 0.3% GDP growth rate was the sixth worst.
Wall Street is the beating heart of the financial world. Not surprisingly, megabanks such as JPMorgan Chase, Citigroup and Goldman Sachs are headquartered in New York.
Q3 2017 in New York average weekly salary of $ 1,305 and 2016 GDP per capita of $ 81,748 were the six highest among the 40 largest metropolitan areas but the region 4.6% unemployment rate in February 2018 was tied for the eighth worst.
San Antonio has five Fortune 1000 companies, including oil refiner Valero Energy and the insurance provider for USAA military families.
San Antonio 2016 GDP per capita of $ 48,033 was the third lowest among the 40 largest metropolitan areas and its third quarter 2017 average weekly salary of $ 889 was the fourth lowest. However, the region of February 2018 unemployment rate of 3.4% was the eighth best.
18. Los Angeles-Long Beach-Anaheim, California
The second largest city in the country has seven Fortune 1000 companies, including the CBRE Group commercial real estate giant.
T3 2017 in Los Angeles average weekly salary of $ 1,143 was the ninth highest among the 40 largest metropolitan areas, and its 2016 GDP per capita of $ 75,154 was the seventh highest.
Indianapolis is home to the headquarters of seven Fortune 1000 companies, including healthcare giant Anthem and drug maker Eli Lily.
Indianapolis February 2018 unemployment rate of 3.4% was the eighth best of the 40 largest metropolitan areas, but its third quarter of 2017 average weekly salary of $ 936 was the eighth lowest.
Four Fortune 1000 companies are headquartered in Jacksonville, including the rail operator CSX.
The non-farm payroll in Jacksonville 2.7% employment growth rate between February 2017 and February 2018 was tied seventh among the 40 largest metropolitan areas, but its 2016 GDP per capita of $ 48,406 was the fourth lowest.
15. Tampa-St. Petersburg-Clearwater, FL
Two Fortune 1000 companies call Tampa home: WellCare Health Plans Health Insurance and outback Steakhouse Bloomin's Brands.
Although Tampa 2016 GDP per capita of $ 46,972 was the second lowest among the 40 largest metropolitan areas, its 4.2% GDP growth rate this year was the fifth highest.
Atlanta is home to 21 Fortune 1000 companies, including Coca Cola and Delta Air Lines. Hartsfield-Jackson Atlanta International Airport is the busiest in the world.
Atlanta T3 2017 average weekly salary of $ 1,067 was in line with the average of the 40 largest metropolitan areas of $ 1,095 and the 2016 area 3.7% GDP growth rate was the eighth highest.
13. Portland-Vancouver-Hillsboro, OR-WA
Columbia Sportswear is headquartered in Portland.
Portland & # 39; s 2016 3.0% GDP growth rate was higher than the average rate of 2.2% in the 40 largest metropolitan areas and in the region in February 2018 unemployment rate of 4.0% was in line with the average.
12. Sacramento-Roseville-Arden-Arcade, CA
Although no Fortune 1000 company is based in Sacramento, California's capital exerts considerable influence on the economic policy of the largest state in the United States.
Although Sacramento 2016 Per capita GDP of $ 53,249 was the ninth lowest among the 40 largest metropolitan areas, its 4.0% GDP growth rate this year was the sixth highest.
Orlando is best known for being a tourism hub, where the sprawling seaside resort of Walt Disney World is located.
Orlando has the third highest growth rate among the 40 largest metropolitan areas, with non-farm payroll jobs up 3.5% between February 2017 and February 2018. However, the third quarter 2017 of the region average weekly salary of $ 859 was the second lowest.
Charlotte is a major hub in the South, with 10 Fortune 1000 companies based in the city, including Bank of America and Duke Energy.
Charlotte 2016 3.4% GDP growth rate was the ninth highest among the 40 largest metropolitan areas, and its 2.7% employment growth rate between February 2017 and February 2018 was tied for seventh place.
The area around the capital is home to much of the federal government and related companies like Fannie Mae.
Washington Q3 2017 average weekly salary of $ 1,394 was the fourth highest among the 40 largest metropolitan areas and the region of 2016 GDP per capita of $ 82,791 was the fifth highest.
The Boston area is home to some of the most prestigious universities in the world. Boston itself is home to several Fortune 1000 companies, including General Electric and Liberty Mutual.
Boston 2016 GDP per capita of $ 87,945 was the third among the 40 largest metropolitan areas and its third quarter of 2017 average weekly salary of $ 1,367 was the fifth highest.
Seventeen Fortune 1000 companies headquartered in Dallas, including Southwest Airlines and AT & T.
Dallas was tied for the seventh growth rate of employment among the 40 largest metropolitan areas, with a non-farm payroll employment increases 2.7% between February 2017 and February 2018. The 2016 region Per capita GDP of $ 70,533 was the ninth highest.
HCA, the largest hospital corporation in the country, is headquartered in Nashville.
Nashville & # 39; s February 2018 unemployment rate of 2.7% was the lowest among the 40 largest metropolitan areas, and its 2016 3.4% GDP growth rate was the ninth highest.
Five Fortune 1000 companies headquartered in Denver, including Chipotle Mexican Grill and Molson Coors Brewing.
Denver Q3 2017 average weekly salary of $ 1,164 was the eighth highest among the 40 largest metropolitan areas and its February 2018 unemployment rate of 3.1% was the fifth lowest.
4. Seattle-Tacoma-Bellevue, WA
Amazon is headquartered in Seattle, but the web giant has mixed relations with locals in his hometown.
Seattle 2016 Per capita GDP of $ 86,889 was the fourth highest among the 40 largest metropolitan areas and its third quarter of 2017 average weekly salary of $ 1,445 was the third highest.
Austin, home to the flagship campus of the University of Texas, has always been renowned for attracting creative and individualistic thinkers.
Austin posts the second highest rate of job growth among the 40 largest metropolitan areas, with a non-farm payroll employment increases 3.7% between February 2017 and February 2018. The region in February 2018 3.0% unemployment rate was tied for the third lowest, and his 2016 GDP growth rate of 4.9% was the third highest.
San Francisco is one of the two metropolitan areas that make up the heart of Silicon Valley, and the city itself is home to 13 Fortune 1000 companies, including Wells Fargo, Gap and Salesforce.
Q3 2017 in San Francisco average weekly salary of $ 1,654, its February 2018 unemployment rate of 2.9%, its 2016 GDP growth rate of 5.4%and its 2016 Per capita GDP of $ 100 132 were the second best among the 40 largest metropolitan areas.
San Jose is the other major metropolitan area of Silicon Valley and, like its counterpart in San Francisco, great technology has provided a lot of economic activity to the region. Technology giants like Cisco, Ebay and PayPal all have their headquarters in the city.
San Jose ranks first among the 40 largest metropolitan areas in three of our five indicators: its third quarter of 2017 average weekly salary $ 2,297, 2016 GDP growth rate of 5.9%and 2016 GDP per capita of $ 126,820 were all the best among the big cities of the country.
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CNN also points out that escalating trade war with China could contribute to slowing business activity.
Regarding the timetable, Schiff told the Post that he "predicted a major economic slowdown by the end of the first term of the Trump Presidency."
However, the president has been promoting the strength of the US economy, saying Friday to the Missouri crowd: "The stock market is up 55% … Your 401 (k) are up 50, 60, 70 % in some cases.
Trump too tweeted Saturday morning: "New economic records are set every day – and it's not by accident!"
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