That is a rather large nit you are picking! Certainly all those people are real, and the do (or did) go to work every day. But I would argue that an awful lot of them (us) are (were) weaving magical cloth for the Emporor.

I won't argue about what is "really" going on. Only that we have become accustomed to what is turning out to be a lot of illusion and pretend wealth. And in the relatively near future, real wealth will once again get in balance with available energy, available food and available water.

I hope it isn't as bloody as some of the doomers here believe it will be. Maybe Obama is really the Magic Negro who can pull it all off, and maybe all those recycled Wall Street wizards will spin a tale we can all believe.

It was a large Nit.. I don't deny it.

To parse what you originally said, then, is that 'a lot of that Wealth is the illusion'. As you basically say, we'll soon discover what the economy is actually comprised of.. but the whole economy is not illusory, just certain magical outgrowths of it..

According to one old saw, "Ecology IS the Economy" (variant on Jane Jacobs "Ecology is the Economy of Nature." I suppose)