Stock Markets =/= The Economy.
Hasn't in a long, long time.
Correct.
And it's teh Fed's actions that brought the S&P 500 up 190% in the last 5.25 years. It's only up 30% or so over the last 6.75 years or so. And the NASDAQ has never returned to the 5000+ where it was at the height of the tech bubble.
I've been through 3 bull markets in the 20 years I've been investing. Jan '95 or so to Jan '00; July '02 to July '07, and Mar '09 to present. The other 2 bull markets were powered mainly by tech / dotcom growth and real estate. This bull market is the "Bernanke Put" - all fed.
Giving Obama, Bush, or Clinton credit for these things is silly.