It's simply a matter of following the path of the line.
Remember that Obama's economic plan didn't begin until April of 2009; up until that point we were under Bush's economic plan. Obama's economic plan was passed in late February, but did not actually begin until April 1st.
The Stock Market remains steady for some time under Bush, until the crash of the financial sector in September and October of 2008. Then the Stock Market followed the financial sector into a tailspin, that remained in place until Obama's plan is finally instituted. Very soon thereafter, the stock market begins regaining, and in fact was (and remains) on the biggest rally it has ever had.
The Stock Market is basically a way of guaging how investors (who obviously pay attention to the economy closer than most) feel about how things are going economically. When the Stock Market goes up, its because most investors feel that the economy is doing better and they want to make money off of it.
If the Stock Market goes down, it is because investors are afraid the economy is hurting and they will lose money if they stay in. So they run with their money and that drops the market.
The fact that it is going up since Obama's plan took effect means that investors believe Obama's plan would work, and that overall good economic news since the beginning of the plan have worked to continue convincing investors that it would be a better idea to stay in so they can make money off the economy's rebound.
While "Jclees" is correct that the stock market always goes up and down, you can see overall trends over a matter of days, weeks, months, and even years.
Over the last few months Bush is President, it takes a steep dive. But in the months since Obama's plan went into effect, the stock market has gone into an overall rally. There were more good days than bad, and the gains on good days were usually bigger than the losses on bad days.
As far as "Give me liberty or give me death's" insistence about the job losses; the job loss rate was literally 450% MORE per month under Bush than it currently is under Obama.
Republicans like to blame Obama for 3 million jobs lost. However, 15 million people are currently out of work; which means that Bush was responsible for 12 million based on Republican numbers.
More importantly, Republicans are counting Obama's total from the moment he got into office; in fact, since before he got into office. Republicans are counting January against Obama, even though he didn't actually become President until January 20th. Which means that January should actually be Bush's month.
And again, Obama's economic plan didn't take effect until April 1st. Until that day, we were on Bush's economic plans still; as Republicans kept delaying Obama's plan.
We lost 700,000 jobs in Jan., 690,000 jobs in February, and 680,000 jobs in April (all approximations, of course).
But that is 2,075,000 (over 2 million) jobs lost under BUSH'S ECONOMIC PLAN, that Republicans are counting against Obama.
So if we just go with the Republicans at face value, Bush lost 12 million jobs to Obama's 3 million.
If we go with reality, Bush lost over 14 million jobs to Obama's just under 1 million.
· 9 years ago