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 ...
What’s with this 500 year reference? So Obama is dealing with the worst economic problem in the last 500 years?
And Joe Biden said that the raid to kill Bin Laden was the most courageous military action of the last 500 years.
So, is this going to be a campaign theme? That Obama has confronted the worst challenges of any kind in the last 500 years? Why did Bill mention a 500 year time line??? What’s that all about???????
Is it stupid to mention that the economic system and structure we have in place now did not exist 500 years ago?
VD addled brain.
Put down the bong, Bill.
Already proven in spades that the man has no shame.
Pointless to give him the time of day.
Too bad this dirtbag is still around and that he’s even being listened to. He should be serving a long, long prison sentence for rape, sexual molestation, theft, treason, etc.
But the left loves these pigs, don’t they: Rev. (Tawana Brawely was raped and $hit on by Whitey) Sharpton, Jessie (I used to spit in Whitey’s burgers) Jackson, Hillary (I was named after an itinerant sheep farmer in New Zealand), and other horrible slobs in the dummycrat party. Shameful! What a bunch of garbage!
What a loon. Best walking, talking example of pump head on earth.
“Billy Baggy Eyes”
As noted in Starr’s impeachment report, his mouth and feces are inseperable in more ways than one...
So now a deep recession is a financial collapse? Someone forgot to tell all those people buying flat screen TVs and smartphones. Oh yeah, all those occupy loozars who were out buying their $5,000 MacBook Pros didn't get the financial collapse memo, either.
EU entering recession, Japan in stagnation and China growth dropping by 50 percent. So where is the US planning to export all their products? Central banks all will print more paper money causing more inflation in US killing our buying power thus the middle class. Otherwise every nation will enter deflation which will kill the bank assets as price of houses, etc drop. Since the entire world system is held together by loans with printed money, or currency swaps and at the sametime banks have highly leveraged derivatives over their heads while the governments have deficits and unfunded liabilities over their heads, there is not much wiggle room if a Black Swan event occurs.
I'm totally serious when I say this:
1492. Pretty much 500 years ago. Everything changed then. Gold and silver from the New World started pouring into Europe. Banking took off. Commerce began to be more important than agriculture. Politics changed. The Middle Class started forming. The aristocracy became powerful, yes, but also prone to revolution. If you think you are a member of the Elite, you don't like that.
The Progressives want to take us back to a manorial system where they are the Lords up in the castle, and we are peasants laboring in the fields. They are building a pre-1492 world.
Again, I'm totally serious. Most of the Left may not fully realize their own motivation, but some of them do. Clinton gets it.
The 2008 financial crisis was hardly a collapse by historical standards. The real collapse is yet to come.
Amazing that when Democrats are in charge of the government it takes “.. five and 10 years to get back to full employment ...” Hence the abysmal record of FDR and his “New Deal” which took nine to ten years and a global war to get back to full employment—most of America’s men were employed fighting the Germans and the Japanese abroad.
Actually Slick Willie should be congratulated for bringing this to our attention. It provides good guidance for US voters in 2012. Any fool voting for Obummer should expect many more years of high unemployment.
He must be on the nose candy again.
Exactly.
So what is Slick Willie saying?
Vote for Zero, but don't actually expect anything from him? Just float downstream and let him manage the decline?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.