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This is an alternate version of Young's song My My, Hey Hey (Out Of The Blue). The lyrics are slightly different, and this is electric, while "My My, Hey Hey," is acoustic.
Young recorded this with the band Crazy Horse. It was the first time Young recorded with them since Zuma in 1975.
In the biography of Neil Young, Shakey by Jimmy McDonough, Neil points out that this song came about when he was jamming with the band Devo. The line "Rust never sleeps" was uttered by Mark Mothersbaugh, and Neil, loving the impromptu line, acquired it and would play the song live with Crazy Horse.
The lyrics refer to "The King" and Johnny Rotten as rockers whose legacies live on. The king is Elvis Presley and Johnny Rotten was the lead singer of the Sex Pistols.
This is the last song on the electric side of Rust Never Sleeps. The first side (first 5 songs on the CD) are acoustic.
This was included on Live Rust, a concert album and video featuring Young playing against a backdrop of comically enormous amps and microphones.
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