One of the charts you don't see is the performance of the stock market from say 1900-1950 for countries like Russia, Japan, France or Germany. We have this point of view that the US is a good place to invest, but to an investor in 1900 that might not have been such an obvious choice. Looking back 50 years from now it may seem like it was obvious the US was going to collapse from some political issue and clear that you belong in the stock market of Brazil, Indonesia, or I don't know what.
That's my point. No one knew the St Petersberg stock exchange would close in 1914. The US stock exchange could close in 2044 and no one would be expecting it. 50 year predictions are unreliable.
