Posted on 04/30/2012 7:54:43 AM PDT by Sub-Driver
Bill Clinton says economic recovery ahead of pace looking back up to 500 years in history 04 30, 2012
By Glen Johnson, Globe Staff
Former President Bill Clinton defended President Obama and his handling of the nation’s economic recovery Sunday night, saying “we are beating the clock” historically in comparison to Japan and other economies that have been through similar tumult.
“If you go back 500 years, whenever a country’s financial system collapses, it takes between five and 10 years to get back to full employment,” Clinton said as he introduced Obama at a fund-raiser for his longtime friend Terry McAuliffe.
The former chairman of the Democratic National Committee is now running for governor of Virginia.
“If you go back for the last 200 years, when buildings had been widely owned by individuals and companies, if there’s a mortgage collapse, it almost always takes 10 years,” the former president added as he defended the current one. “He’s beating the clock, not behind it. Don’t listen to those Republicans. We are beating the clock.”
Without directly naming names, Clinton also jabbed at Mitt Romney, the presumptive Republican presidential nominee, while advocating for his fellow Democrat.
(Excerpt) Read more at boston.com ...
Yes, we did not have food riots, and a lot of bloodshed, which is what I think we will have in a REAL economic collapse.
Recovery will certainly take time. Don’t know how much time. Do know when it will start: when B Hussein leaves.
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