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Phosphorescent – The Mermaid Parade Lyrics 11 years ago
I believe the song is a metaphor for the distraught singer's suicide by drowning. I don't think it is related to the Coney Island event, in anyway other than it fit in the song meaning.
I gotta tell ya, I love Matthew's writing, the covers he has chosen, his voice, instrumentation. This is a talented guy, and if he keeps writing like this, and not change his style, I will be around, and around, and around and......

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