Lyric discussion by Kafziel 

I really hope MajorTom6669 is kidding. Wow. Anyway, I've always heard it was about a drug overdose, and it makes perfect sense to me. He takes his pills, he's ready for liftoff, he goes into orbit, but something goes wrong and he can't find his way back to Earth. I don't know about any actual evidence to that effect, but I've always thought it was a great way to look at it. It's also a really unique song (despite the fact that it's about drugs) because most drug-related songs of the time were about good trips and opening your mind, while "Oddity" highlights the darker, deadlier side of drugs while still managing to make it seem romantic and even heroic to lift off and never come back. I'm not going to try to say I know Bowie personally and he told me, or anything stupid like that. It just always seemed to fit. I guess I'll cast my vote with the heroin people above. Either way, it's a great, classic song.

it could also be about the use of disassociatives, such as ketamine, i've never used them, but i've heard the feeling is similar to being separated from the body, which i'd imagine would feel sort of like floating in space

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