The stock market is not a measure of the real economy, and GDP is not a measure of real happiness.
Guess what.... I'm reading another book (or introduction to one). Here's a quotation from it:
"Gross Domestic Product (GDP) per capita is easily measured and shows a mostly upward trend for the world as a whole over the past two centuries. But it takes into account only a narrow set of data—the market value of all final goods and services produced within a country in a given period of time. Growth in GDP is used to tell us that we should be feeling better about ourselves and our world —but it leaves out a wide range of other factors, including damage to the environment, wars, crime and imprisonment rates, and trends in education (like whether more or fewer people graduate from high school or college, and the quality of the education received)" (page 17 of the Introduction to Peak Everything).