"Selective" is the key word. The NASDAQ peaked at about 5200 about 7 months before Bush got elected in 2000. The NASDAQ closed today at 2303, still down 50% from the peak. Conversely, the small and mid cap indexes are at record highs. The crash in 2000-2002 was in large cap and tech stocks. Mid cap, small cap, value, real estate related and international all did fine while the large caps were crashing.
Also, one could have sold short or bought put options to cash in on the crash and long slide down in large caps. There are ways to profit when the market is tanking, just as there are when it is rising, but those techniques are for those sophisticated people who have a good grasp of futures and options.
One has to be selective and know what the trends are and what each class and style is doing. The "market" is made of of many sub-markets, often going in different direction.
The Clinton stewardship of the economy, often touted by Lib legacy bootlickers, was a complete fake:
1. The stock indexes were propped up with FAKE accounting at major corporations like Enron, SEC oversight was lacking on Clinton's watch, and the deceit was willfully ignored;
2. The threat of international terrorism was willfully ignored for political purposes despite the WTC being bombed two months after inauguration in 1993. Military preparedness was completely gutted. Peace under Clinton was FAKE;
3. Even the MSM got in on the act with FAKE circulation numbers propping up stock prices and advertising rates.
In conclusion, the Clinton legacy - FAKE.
President Bush, and the economy under him, had to endure countless attacks and complete rebuilding, including managing several Clinton-era financial scandals, massive reinvestment in the military infrastructure, 9/11, war in Afghanistan, war in Iraq, homeland security, biased MSM, etc.
Despite all of these inherited disasters and disadvantages, U.S. economic measures are clawing back to around where they were when Bush took office.
As at January 20, 2001 (Bush Inauguration):
DOW30 Index: 10,587.60
NASDAQ Index: 2,770.38
As at September 10, 2001 (day before 9/11)
DOW30 Index: 9,605.50
NASDAQ Index: 1,695.38
As at September 21, 2001 (market reopens after 9/11)
DOW30 Index: 8,235.80
NASDAQ Index: 1,423.19
As at March 22, 2006 (today)
DOW30 Index: 11,317.43
NASDAQ Index: 2,303.35