There is a similar phrase in the Bible, that there is no reckoning of time for the Christian god: "a day is like a thousand years, a thousand years is like a day", inferring that the perception of the passage of time is purely a human construct. This might partially explain the notion that humans lived alongside dinosaurs.
If one furtively goes down the road to fantasy-land, the question of how early humans would have defended themselves against the likes of TRex and other types of raptors becomes apparent. I don't even want to waste any time thinking about crazy ideas like this. It's similar to getting roped into a discussion as to where Atlantis was located.
Biblical creation concepts were originally formulated to provide simple explanations of the appearance of the Earth and humans to a mostly illiterate population who lived thousands of years ago. Placing these same concepts on an even footing with present-day scientific theories in evolution and geology makes absolutely no sense at all. But then, logic has never had a place in religious fundamentalism either.