Why layers don't show outside the page boundaries?

I love Photoshop, but one thing that always annoyed me to death is that whatever part of the layer is not within the boundaries of the chosen document size not only does not show, but also does not get selected. Many times I want to crop a layer to a specific area, so I select that area, then do a invert selection and delete, but if any part of that layer was outside the document printable area when I did that, that part of the layer will not get deleted. So if later I move that layer I will see that hidden part of the layer come back inside the document. This is not the way it work in Illustrator, where you get to see everything outside the printable area, but you know that only what's inside will print.

Is there a way to avoid this behavior?