Almost four minutes long and completely viable as a strong album track, this song is nevertheless comprised of only two verses and a (lengthy) coda. The verses have two parts, the second in waltz time and with irregular groupings of bars, both elements echoed in the imagery of "feel the world spin slightly off axis."
Bob Dylan once said something to the effect of dreams being "the place where the bottom falls out from reality" and that is what happens here. At the end of verse number two, singer David Lowery starts telling about a dream but then never stops, the chords continuing to circle around and back. We begin to feel that power on the level of a planet going off its axis now, the dream suddenly including images of fortune-telling, playing cards, and then, by a master stroke, the operatic chorus that seems to be overseeing the cosmic event.