it wil never be "game over in stock markets", page-27

Nope. I mean sales growth - because with more sales, profits will also grow. It's simple arithmetic.

No, it's not. Costs also rise, as does inflation. The fact that you equate sales with stock performance shows your poor understanding of what moves stocks. Secondly, you started by saying that you would get 50% of your money back, but then you say lets not consider dividend growth, only sales growth. It lacks logic and credibility.

"I use those examples because they're typical of the large, US blue chips which make up the S&P 500 stock market index."

Actually, I think you will find that KO and MSFT are the Dow Jones, and GOOGLE is in the NASDAQ. Again, poor understanding of the market. And they are not "typical" at all. You chose these because your limited knowledge told you these were some of the biggest success stories in history. But again, poor research.

"The average S&P company would be making 3 times the profits now compared to back then."

Again, wrong. Year 1999 earnings were 51.68, vs 2012 of 102.47. That's double, but over 13yrs with all that fed stimulus (ie inflation) that is a lousy performance at best.

"As I've said before, these 'black swans' have little bearing on sales and profits at the real world level."

Really? The GFC has had little bearing on recent sales and profits? Then please explain why the Fed is still pumping in $85b per month 5 years later just to keep the economy above water.

"I would love to know where I've got things wrong."

Where have you got them RIGHT?

"I think a lot of the fear and negative sentiments towards stocks come from a lack of how stocks work on a fundamental level."

You are proof of that.