You raise some important questions in this solid piece of writing.

The economy we are operating in does seem "unreal." There are so many artificial numbers, pump and dumps, and psychological deterrents from the true story.

You ask can it be different? I believe the cycles can be less severe. With education in economics and no central planning of our money supply I believe people would be less inclined to participate in lemming waves. If we seek to make those waves extinct we begin down the path of thinking that created the Federal Reserve banks in the first place.