Lyric discussion by bkobash 

So basically, the first part = hubris? In more words than probably necessary, the decadence of civilization.

The second part = violent change/reform? "Surf's up" seems to imply erosion and metamorphosis. Aud Lang Syne, of course, symbolizing the end of an era.

The third part = the answer: Wilson's obsession with regression - songs about childhood as catharsis/longing/nostalgia. The bike horns in "You Still Believe in Me". The whistles and noisemakers in "Heroes & Villains", "Mrs. O'Leary's Cow", etc. The sing-songiness of "On a Holiday" and "Sloop John B", etc. etc.

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