Lyric discussion by CB the PB 

Actually, I'm reading his boigraphy "Shakey" right now, and he says quite clearly that the song is about a town that he lived in called "Omemee". It was a tiny town with a population of about 200, and it was here that Neil contracted Polio when he was about 5 or 6.

Neil moved around quite a bit as a child, all over ontario and manitoba, so this song has probably been attributed to lots of other towns before, heh.

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