How to pause and resume a thread using the threading module?

I did some speed tests as well, the time to set the flag and for action to be taken is pleasantly fast 0.00002 secs on a slow 2 processor Linux box.

Example of thread pause test using set() and clear() events:

import threading
import time

# This function gets called by our thread.. so it basically becomes the thread init...                
def wait_for_event(e):
    while True:
        print('\tTHREAD: This is the thread speaking, we are Waiting for event to start..')
        event_is_set = e.wait()
        print('\tTHREAD:  WHOOOOOO HOOOO WE GOT A SIGNAL  : %s' % event_is_set)
        # or for Python >= 3.6
        # print(f'\tTHREAD:  WHOOOOOO HOOOO WE GOT A SIGNAL  : {event_is_set}')
        e.clear()

# Main code
e = threading.Event()
t = threading.Thread(name="pausable_thread", 
                     target=wait_for_event,
                     args=(e,))
t.start()

while True:
    print('MAIN LOOP: still in the main loop..')
    time.sleep(4)
    print('MAIN LOOP: I just set the flag..')
    e.set()
    print('MAIN LOOP: now Im gonna do some processing')
    time.sleep(4)
    print('MAIN LOOP:  .. some more processing im doing   yeahhhh')
    time.sleep(4)
    print('MAIN LOOP: ok ready, soon we will repeat the loop..')
    time.sleep(2)

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