Podcasts about EPS

On this week's Talkhouse Podcast we've got one of our favorite repeat Talkhouse guests alongside an artist who just released her debut album—on which they collaborated. It's Ben Gibbard and Natalie Lew. Gibbard is of course the frontman and primary songwriter behind both Death Cab for Cutie and The Postal Service, and he's been writing heartfelt, incredible songs for the past, oh, 30 years or so. The latest Death Cab album, called Asphalt Meadows, came out back in 2022, but he's kept busy with an anniversary Postal Service tour and, coming later this summer, some shows celebrating the 20th anniversary of Death Cab's Plans album. I'm a fan—the guy has written some of my favorite songs of all time, and he hasn't lost a step over the years. He's also been super supportive of other musicians over the years, including today's other guest. Natalie Lew who, like Gibbard, calls Seattle home, records under the name Sea Lemon. Like a lot of younger artists, she started out by releasing singles and EPs, but in May she graduated to what some folks think it's a lost artform: the full-length album. It's called Diving for a Prize, and it's full of shoegazy indie-pop goodness, hiding catchy melodies under swirling layers. Gibbard was already a fan of Sea Lemon's music, so it seemed like a no-brainer that she'd ask him to duet on a song from the album. Check out “Crystals” right here. In this lively chat, these two talk about their shared city and how they'll never live anywhere else, the sanctity of the album as an artistic statement, and whether they'd like to venture into creative pursuits beyond music. One of them is a yes, the other not so much. Enjoy. Thanks for listening to the Talkhouse Podcast, and thanks to Natalie Lew and Ben Gibbard for chatting. If you liked what you heard, please follow Talkhouse on your favorite podcasting platform, and check out all the great stuff at Talkhouse.com. This episode was produced by Myron Kaplan, and the Talkhouse theme is composed and performed by the Range. See you next time! Find more illuminating podcasts on the ⁠⁠⁠Talkhouse Podcast Network⁠⁠⁠. Visit ⁠⁠⁠talkhouse.com⁠⁠⁠ to read essays, reviews, and more. Follow @talkhouse on ⁠⁠⁠Instagram⁠⁠⁠, ⁠⁠⁠Bluesky⁠⁠⁠, ⁠⁠⁠Twitter (X)⁠⁠⁠, ⁠⁠⁠Threads⁠⁠⁠, and ⁠⁠⁠Facebook⁠⁠⁠.

Is the West DEAD? Japanese & Gacha Games, Anime Series, Manga, Movies, Gaming News about Xbox layoff! Weeb Week #3! Mecha BREAK, UmaMusume: Pretty Derby, Wuthering Waves aka WuWa, Bakeru, Zenless Zone Zero, Ni no Kuni Wrath of the White Witch™ Remastered, Final Fantasy IV 25 year anniversary remake rumors and Memoria Mod + Moguri Mod, Solo Leveling Arise Overdrive, Outrider Mako, win RAIDOU Remastered The Mystery of the Soulless Army from CDKeys in our VGO Discord, gacha games, and more! Plus Josee the Tiger and the Fish, 90's Berserk, Jujutsu Kaisen JJK, Solo Leveling, The Apothecary Diaries, Attack on Titan, and the bad rep anime gets. We also get into the Xbox drama. To listen to Weeb Week 1&2 (Eps 837 & 882), support us in Discord to get weekly bonus shows, ad-free VGO, and the entire back catalog of 20 years on VideoGameOutsiders.com via https://discord.gg/Ab6pxpT Head to Twitch.tv/johnANDmichelle and sub free with Amazon Prime every month for our game streams and to support the show. 

OBBBA written into law! Big week for Coney Island The American Party - Musk taking a shot Amazon Prime Day (Prime Week) happening PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter INTERACTIVE BROKERS  Warm-Up - OBBBA written into law! - Big week for Coney Island - The American Party - Musk taking a shot - Amazon Prime Day (Prime Week) happening - BIG WIN FOR US AT AIRPORTS! Markets - ATH before the July 4th break - Jobs numbers - a bit surprising - Tariff threats are back - full court press is on! -- Letters are going out! - NVDA - History in the making THE WINNER OF THE CTP - Something that never happened before! Earnings Season According to Factset: - During the second quarter, analysts reduced earnings-per-share (EPS) estimates by a wider margin than usual. - The bottom-up EPS estimate for Q2—which aggregates the median EPS forecasts for all companies in the index—fell by 4.2%, dropping from $65.55 on March 31 to $62.83 by June 30. - While it's common for analysts to lower EPS estimates during a quarter, the size of this quarter's decline stands out. Over the past 5 years (20 quarters), the average quarterly decline in the bottom-up EPS estimate has been 3.0%. - Over the past 10 years (40 quarters), the average drop was 3.1%, and over the past 15 years (60 quarters), it was 3.2%. - Only when looking back 20 years (80 quarters) does the average match this quarter's 4.2% decline. --- What this means is that easier hurdles to get over for companies that have had their earnings estimates slashed. ELON - On July 5, Musk said he would found an "America Party" as an alternative to the Republican and Democratic parties. Musk says the party will focus on "just 2 or 3 Senate seats and 8 to 10 house districts." - He can't be President, what are his aspirations here? Joey, Joey, Joey - Joey Chestnut on Friday regained his longtime title of champion in the Nathan's Famous Hot Dog Eating contest at New York City's Coney Island after he was banned from the competition last year. - In the 2025 contest, he ate 70.5 hot dogs and buns in 10 minutes, totaling roughly 21,150 calories, 1,269 grams of fat, and 48,280 milligrams of sodium Tariffs - After OBBBA - good time to start this up again - Bessent, White House and Navarro are back on the Tariff Trail -  Treasury Secretary Scott Bessent said President Donald Trump will send letters to some trading partners saying tariffs will boomerang back to April 2 levels on Aug. 1 if there is no progress. - Bessent rejected that Aug. 1 is a new trading deadline, but it could still give countries more time to negotiate. Bessent also said that he expects to see “several big announcements over the next couple of days” about trade deals. - Johnny:I am going to count to three! - Trump has threatened an additional 10% tariff on countries that orient themselves along the “Anti-American policies of BRICS.” - Trump's announcement, which did not elaborate on any specific policy of BRICS, came as the group's meeting is underway in Rio de Janeiro, Brazil. - Navarro out with his usual tough talk about all countries in the world screwing America on CNBC Monday.. - Trump said he had signed letters to 12 countries outlining the various tariff levels they would face on goods they export to the United States, with the “take it or leave it” offers to be sent out on Monday. OOPS THERE IT IS! - Monday 12PM: President Trump posts letters to Prime Minister of Japan, President of the Republic of Korea outlining 25% tariffs starting August 1}- Sends out a total of 14 letters. Markets miffed, but don't care China and Trade Deal - GE Aerospace has received U.S.

ITPM Flash provides insight into what professional traders are thinking about in the markets RIGHT NOW! Markets are ripping, earnings are strong, and a new takeover rumor has caught Ben Berggreen's attention. In episode of ITPM Flash, Ben kicks things off with a quick macro rundown—tech and cyclicals are pushing new highs despite soft economic data. Then he dives into a fresh long idea: Papa John's. The stock is trading well below its 2021 peak, but a potential $2B buyout and improving fundamentals—margin expansion, tech initiatives, and accelerating EPS growth—make it a compelling setup. Ben outlines a defined-risk call spread aimed at capturing upside if the deal gains momentum. Enjoy the episode!

The Ultimatum: Queer Love Season 2 Eps 7-10 A Perfect Match hosts Aysha Welch, Mary Kwiatkowski and Evvie Jagoda are here to recap The Ultimatum: Queer Love Season 2. The Ultimatum is a reality dating show where couples at a crossroads face a life-changing decision: get married or break up. Over the course of the experiment, participants swap partners, live in trial marriages, and explore their relationships, forcing them to confront their doubts, desires, and what they truly want for their future. Today, Aysha, Mary, and Evvie discuss episodes 6-10 of The Ultimatum: Queer Love. Catch up with us on Twitter and let us know how you liked this podcast (@RobHasAPodcast)! Previously on the Love at First Sight Feed:Love at First Sight Recap Archives LISTEN: Subscribe to the Perfect Match RHAPUp podcast feed by visiting https://robhasawebsite.com/feed/mafsWATCH: Watch and subscribe to the podcast on YouTubeSUPPORT: Become a RHAP Patron for bonus content, access to Facebook and Discord groups plus more great perks! Learn more about your ad choices. Visit megaphone.fm/adchoices

The Ultimatum: Queer Love Season 2 Eps 2-6 A Perfect Match hosts Aysha Welch, Mary Kwiatkowski and Evvie Jagoda are here to recap The Ultimatum: Queer Love Season 2. The Ultimatum is a reality dating show where couples at a crossroads face a life-changing decision: get married or break up. Over the course of the experiment, participants swap partners, live in trial marriages, and explore their relationships, forcing them to confront their doubts, desires, and what they truly want for their future. Today, Aysha, Mary, and Evvie discuss episodes 2-6 of The Ultimatum: Queer Love. Catch up with us on Twitter and let us know how you liked this podcast (@RobHasAPodcast)! Previously on the Love at First Sight Feed:Love at First Sight Recap Archives LISTEN: Subscribe to the Perfect Match RHAPUp podcast feed by visiting https://robhasawebsite.com/feed/mafsWATCH: Watch and subscribe to the podcast on YouTubeSUPPORT: Become a RHAP Patron for bonus content, access to Facebook and Discord groups plus more great perks! Learn more about your ad choices. Visit megaphone.fm/adchoices

Nate gives an update on the recent delayed episode releases and ponders out loud about the generative AI band with hundreds of thousands of streams on Spotify. Then, Nate sits down with David Lowery (Cracker, Camper Van Beethoven). They talk about David's childhood living across the world as a son of a member of the Air Force, how music entered his life, the move to California and exposure to neighborhood bands, forming the band Sitting Ducks that eventually became the band Camper Van Beethoven, Johnny Hickman, the timing of the 40th anniversary release of Telephone Free Landslide Victory, A Cracker Retrospective, and Fathers, Sons & Brothers, releasing music in 2025, the music industry in the 90s, streaming, Substack, Emily White, releasing the three EPs that would become Fathers, Sons & Brothers on Bandcamp, non-commercial radio, tour plans, the reactions to Fathers, Sons & Brothers from family, and the song "Everybody Get a Fucking Day Job." Then David partakes in The Jawntlet!David Lowery websiteDavid Lowery on SubstackDavid Lowery on X ⁠Yo! That's My Jawn on Substack⁠⁠ | ⁠⁠⁠Subscribe to the Y!TMJ Newsletter!

U Read It Well- RuPaul's Dragrace Allstars 10- Let the tournament begin! Hosted by Jean Lizza. Going into this 3rd and final bracket, no one knew what this bunch of queens could offer. And although it definitley feels like the Ginger show, this bracket shows that points pooling can affect the outcome!  No time for tearful stories or actual beef, it's hard to be both a good witch and a bad bitch in 3 episodes.  URIW expert regular guest girlie Lorelei Camboni returns to break down this episode. Theme song by Angus Leslie Subscribe or listen to one of the only Australian dragrace podcasts wherever you listen to podcasts. Eps out after each bracket. #allstars10 #DragRace #rupaulsdragrace

Barry, Abigail, and special guest Pete Coe discuss Pete's “Phone-a-Friend” submission, 13 Songs by Fugazi, and sample Rust and Ruin, Avulsion, and Inhume from Ghost Town Brewing in Oakland, California.We talked a bit about Ian MacKaye, the frontman of Fugazi and owner/co-founder of Dischord Records, the famous Washington, D.C.-based independent punk rock label. Read more about Dischord Records.Pete Coe's band Shack once opened for Deftones! (Later, Shack changed its name to Zeta Reticuli.)See the famous photo of Guy Picciotto singing while hanging from a basketball hoop.Ghost Town's can art/aesthetic reminded Abigail of the can art/aesthetic of Burial Beer Co. in Asheville, North Carolina. You can listen to our review of Burial's beer on our season one episode: Consumers of the Barley (The Raconteurs and Burial Beer Co.).Pete also plugged Healthy Spirits, a San Francisco-based liquor store where he bought today's beer selection.Abigail heard the “Midnight Oil pipe bang” in Burning. Pete shared that it was Brendan Canty's bell, which you can see as part of the drum kit in this photo!Barry entered Suggestion into the Abigail Hummel School of Speaking Smartly About Music with a comparison to Secret Journey by The Police.Pete compared Ian MacKaye's style of octave guitar playing to that of Wes Montgomery, a famous jazz guitarist.Much like Burning has a sequel in Burning Too, originally from separate EPs, Provisional has a sequel in Reprovisional on Fugazi's subsequent album, Repeater + 3 Songs.Pete is currently narrating for the Bloomberg Weekend Edition, which can be heard on their app. He also voiced Mo the Sloth, who teaches children about mindfulness and meditation, for tonies®.Up next… HIT ME HARD AND SOFT by Billie EilishJingles are by our friend Pete Coe.Visit Anosmia Awareness for more information on Barry's condition.Follow Barry or Abigail on Untappd to see what we're drinking when we're not on mic!Leave us a rating or a review on Apple Podcasts or Spotify!Facebook | Instagram | Bluesky | YouTube | Substack | Website | Email us | Virtual Jukebox | Beer Media Group

Send us a textLuke stops by the show to discuss his musical journey, which started at the age of 7,  how the pandemic changed his life, a separate identity from being a singer/musician, and more. ****Luke Marzec's life has always been about music. He picked up the violin aged 7, the sax at 10 and the piano soon after. At just 11, his natural talent earned him a place at the prestigious Royal College of Music (RCM) Junior Department. In fact, most of Luke's childhood was spent either in the practice room or on stage. By the time he graduated high school, he had led countless classical and jazz bands, ensembles and orchestras - professionally, at school, RCM, and at the national level. He formed his first band at York University and spent most of his early 20s playing sax in various jazz, psychedelic, indie, and brass bands in the north. He gained a scholarship to Trinity Conservatoire's Master's course in 2016, but after a full term of shredding, decided to focus on his career as a solo artist. In 2018, he released his EP Chances, which received critical acclaim. Over the next couple of years, Luke released two more EPs and gained writing and production experience, doing the rounds co-writing with artists in the UK such as Maverick Sabre, VC Pines, Benjamin Francis Leftwich and Jazzanova. He featured on Johannes Brecht's “Voicing Something” which was remixed by Adriatique. His Spotify page now has more than 15 million listens.  Today, Luke is one-third of London's experimental modular synth-jazz group Lazy H and the Loose Cables, in which he plays the tenor sax and synthesizer. The trio have gigged with London's Kinkajous, Mark Cake, Alabaster DePlume, Plumm and FlamingGods, and they released their first album Rotary Perception with Nottingham-based label Running Circles earlier this year. The avant-garde jazz album takes listeners through psychedelic and tender soundscapes, perfect for sci-fi film scores. He also hosts Headroom – one of the city's most exciting jam sessions which showcases some of the capital's best jazz and electronic instrumentalists and producers. Covid instigated a new period for the artist when he moved into a 44-foot narrowboat. Living life as a water traveler, Luke spent a lot of time in the countryside in relative solitude, before moving to Devon and setting up a new studio. After months in lockdown, this frenetic new period led to a prolific stream of writing and recording. Despite Marzec's writing and collaborating prowess, he is most at ease on stage where everything is simplest, where decision making is easiest and where he feels most alive. After the first note is played, the rest is as if he was watching himself perform; as if his spirit floats to another realm to observe his body. During his performances, the rugged growl of his voice in brilliant contrast to the soft notes he plays on the keys allows him to connect with his audience in moments of sheer bliss and unity. In 2025 Luke will take up residence at one of the city's newest micro-venues while touring across Europe to promote his new album, debut album Something Good Out Of Nothing.*****If you would like to contact the show about being a guest, please email us at Dauna@bettertopodcast.comUpcoming guests can be found: https://dmneedom.com/upcoming-guest Follow us on Social MediaInstagram: https://www.instagram.com/author_d.m.needom/Facebook: https://www.facebook.com/bettertopodcastwithdmneedomIntro and Outro music compliments of Fast Suzi©2025 Better To...Podcast with D. M. NeedomSupport the show

•⁠ ⁠பரபரப்பைக் கிளப்பிய அமித் ஷா பேட்டி!•⁠ ⁠EPS-ன் பெயரை குறிப்பிடாத அமித் ஷா •⁠ ⁠"NDA கூட்டணியில் தவெக இணையுமா?"- அமித்ஷா பதில்•⁠ ⁠"கூட்டணி ஆட்சியை மக்கள் விரும்ப மாட்டார்கள்” - வைகைச்செல்வன்•⁠ ⁠குழப்பம் ஏற்படுத்த வேண்டாம்: தமிழிசை•⁠ ⁠அமித் ஷா எப்போது தமிழகம் வந்தாரோ அன்றே திமுகவுக்கு பயம் வந்துவிட்டது - நயினார் நாகேந்திரன்•⁠ ⁠"எங்கள் குருதியில் குடியிருக்கும் பேரறிஞர் பெருந்தகை அண்ணா” - எடப்பாடி பழனிசாமி•⁠ ⁠"இஸ்ரேல் தலைவராக இருந்த சிவன்" - ஸ்டாலின்•⁠ ⁠தவெகவின் செயற்குழு கூட்டம் வரும் ஜூலை 4ம் தேதி அக்கட்சித் தலைவர் விஜய் தலைமையில் நடைபெறும் என அறிவிப்பு •⁠ ⁠எந்ததொரு அந்நிய மொழிக்கும் எதிர்ப்பு கூடாது - அமித் ஷா•⁠ ⁠ஹிந்தி அனைத்து இந்திய மொழிகளுக்கும் நண்பன் என்ற ஒன்றிய அமைச்சர் அமித்ஷாவின் பேச்சுக்கு திமுக எம்.பி., கனிமொழி பதில்•⁠ ⁠ராமதாஸை சந்தித்த செல்வப்பெருந்தகை? •⁠ ⁠ஜூலை 14ல் பொதுப்பிரிவு கலந்தாய்வு!•⁠ ⁠முன்னாள் விருதுநகர் மாவட்ட ஆட்சியர் ஜெயசீலனின் X தள பதிவு•⁠ ⁠Koomapatti: ``கூமாபட்டியில் ரூ.10 கோடியிலான பூங்கா'' - விருதுநகர் ஆட்சியர் அதிகாரப்பூர்வ அறிவிப்பு!•⁠ ⁠சிறுநீரில் கண்களை கழுவும் முறைக்கு மருத்துவர்கள் கடும் எதிர்ப்பு•⁠ ⁠மதுரை ஆதீனம் மீது 4 பிரிவுகளில் வழக்குப்பதிவு - சென்னை சைபர் கிரைம் போலீஸ் நடவடிக்கை!•⁠ ⁠நடிகர் கிருஷ்ணாவுக்கு 14 நாட்கள் நீதிமன்ற காவல்.•⁠ ⁠Shanghai: ஷாங்காய் ஒத்துழைப்பு அமைப்பின் பிரகடனத்தை நிராகரித்த இந்தியா!? - காரணம் என்ன?•⁠ ⁠அடுத்த வாரம் 5 நாடுகளுக்கு மோடி பயணம்?•⁠ ⁠"என்னைப் பொறுத்தவரை நாடாளுமன்றத்தை விட அரசியல் சாசனம்தான் மிக உயர்ந்தது.." -CJI கவாய்•⁠ ⁠தேர்தலில் போட்டியிடாத கட்சிகளை பட்டியலில் இருந்து நீக்கும் தேர்தல் ஆணையம்!•⁠ ⁠அமெரிக்காவை மீண்டும் தாக்குவோம் - கமேனி•⁠ ⁠இந்தியா - பாகிஸ்தான் போரை நிறுத்தியது நானே என 18வது முறையாக கூறியுள்ளார் அதிபர் ட்ரம்ப்!•⁠ ⁠தீவிரத் தாக்குதலுக்கு தயாராகும் ரஷ்யா?

Yung Gravy, the stage name of Matthew Raymond Hauri, is a Minnesota-born rapper known for his humorous lyrics and trap beats. He broke out in 2016 and achieved viral fame with his 2017 song "Mr. Clean". His persona embraces being “extra” and his songs often feature funny lyrics about food, memes, and romance. He's collaborated with bbno$ and released EPs like Mr. Clean.  Subscribe to When a Stranger Callz with Howie & Harland: https://www.youtube.com/@WhenAStrangerCallz Bobbys World Merchandise from Retrokid: https://retrokid.ca/collections/bobbys-world Howie Mandel Does Stuff available on every Podcast Platform Visit the Official Howie Mandel Website for more: https://www.howiemandel.com/ Howie Mandel Does Stuff Merchandise available on Amazon.com here https://www.amazon.com/shop/howiemandeldoesstuff Join the "Official Howie Mandel Does Stuff" Reddit: https://www.reddit.com/r/HowieMandelPodcast/ Say Hello to our house band Sunny and the Black Pack! Follow them here! YouTube: https://www.youtube.com/@BlackMediaPresents TikTok: https://www.tiktok.com/@blackmediapresents Spotify: https://open.spotify.com/artist/01uFmntCHwOW438t7enYOO?si=0Oc-_QJdQ0CrMkWii42BWA&nd=1&dlsi=a9792af062844b4f Facebook: https://www.facebook.com/SunnyAndTheBlackPack/ Instagram: https://www.instagram.com/blackmediapresents/ Twitch: https://www.twitch.tv/blackmediapresents Twitter: twitter.com/blackmedia @howiemandel @jackelynshultz @yunggravy

Sign up for the latest podcast info - https://laylo.com/willclarke/uqFWnJKaPodcast Overview: In this conversation, Will Clarke and TSHA discuss the current state of music consumption, particularly focusing on the impact of streaming platforms and algorithms on artists. They explore the anxiety that comes with navigating the music industry, the pressures of album cycles, and the importance of finding joy in music and life. TSHA shares her experiences with therapy and how it influences her artistic process, while also emphasizing the need for community and connection in music events. In this engaging conversation, TSHA and Will Clarke delve into the complexities of content creation, the challenges of engaging with fans in the digital age, and the joys of living in Ibiza. They discuss the evolving landscape of record labels, the balance between DJing and original music, and the importance of cultural integration, including language learning. The conversation wraps up with a light-hearted exploration of culinary experiences in Ibiza, highlighting the vibrant lifestyle that accompanies their music careers.Who is TSHA: TSHA, whose full name is Teisha Matthews, is a British DJ and record producer based in London. She is known for her distinctive style of electronic music, blending house with vocal elements. TSHA gained recognition with her debut EP, "Dawn," in 2018, and has since released several acclaimed singles and EPs, including "Flowers" and "OnlyL". Her debut album, "Capricorn Sun," was released in 2022 and was named Album of the Year by DJ Mag and BBC R1 Dance. Join for updates: https://laylo.com/willclarke⏲ Follow Will Clarke ⏱https://djwillclarke.com/https://open.spotify.com/artist/1OmOdgwIzub8DYPxQYbbbi?si=hEx8GCJAR3mhhhWd_iSuewhttps://www.instagram.com/djwillclarkehttps://www.facebook.com/willclarkedjhttps://twitter.com/djwillclarkehttps://www.tiktok.com/@djwillclarke Hosted on Acast. See acast.com/privacy for more information.

Kicking off the Summer of Superman, Eli joins Ben to celebrate the Supes of our DCAU with the 3-parter that started it all: Superman: The Animated Series "The Last Son of Krypton" (Eps 1-3). Today's commentary pod is just one of many for STAS. In fact, 2 Patreon Exclusive STAS commentaries are already posted, 1 for the team-up episode with BTAS Batman, "Knight Time," as well as the STAS premiere of Toyman, "Fun and Games" (S1 Ep 5).

For those who haven't heard the announcement I posted, songs from this point on will sometimes be split among multiple episodes, so this is the second part of a two-episode look at the song “Who Knows Where The Time Goes?” by Fairport Convention, and the intertwining careers of Joe Boyd, Sandy Denny, and Richard Thompson. Click the full post to read liner notes, links to more information, and a transcript of the episode. Patreon backers also have a forty-one-minute bonus episode available, on Judy Collins’ version of this song. Tilt Araiza has assisted invaluably by editing, and will hopefully be doing so from now on. Check out Tilt's irregular podcasts at http://www.podnose.com/jaffa-cakes-for-proust and http://sitcomclub.com/ Erratum For about an hour this was uploaded with the wrong Elton John clip in place of “Saturday Sun”. This has now been fixed. Resources Because of the increasing problems with Mixcloud’s restrictions, I have decided to start sharing streaming playlists of the songs used in episodes instead of Mixcloud ones. This Tunemymusic link will let you listen to the playlist I created on your streaming platform of choice — however please note that not all the songs excerpted are currently available on streaming. The songs missing from the Tidal version are “Shanten Bells” by the Ian Campbell Folk Group, “Tom’s Gone to Hilo” by A.L. Lloyd, two by Paul McNeill and Linda Peters, three by Elton John & Linda Peters, “What Will I Do With Tomorrow” by Sandy Denny and “You Never Know” by Charlie Drake, but the other fifty-nine are there. Other songs may be missing from other services. The main books I used on Fairport Convention as a whole were Patrick Humphries' Meet On The Ledge, Clinton Heylin's What We Did Instead of Holidays, and Kevan Furbank's Fairport Convention on Track. Rob Young's Electric Eden is the most important book on the British folk-rock movement. Information on Richard Thompson comes from Patrick Humphries' Richard Thompson: Strange Affair and Thompson's own autobiography Beeswing.  Information on Sandy Denny comes from Clinton Heylin's No More Sad Refrains and Mick Houghton's I've Always Kept a Unicorn. I also used Joe Boyd's autobiography White Bicycles and Chris Blackwell's The Islander.  And this three-CD set is the best introduction to Fairport's music currently in print. Transcript Before we begin, this episode contains reference to alcohol and cocaine abuse and medical neglect leading to death. It also starts with some discussion of the fatal car accident that ended last episode. There’s also some mention of child neglect and spousal violence. If that’s likely to upset you, you might want to skip this episode or read the transcript. One of the inspirations for this podcast when I started it back in 2018 was a project by Richard Thompson, which appears (like many things in Thompson’s life) to have started out of sheer bloody-mindedness. In 1999 Playboy magazine asked various people to list their “songs of the Millennium”, and most of them, understanding the brief, chose a handful of songs from the latter half of the twentieth century. But Thompson determined that he was going to list his favourite songs *of the millennium*. He didn’t quite manage that, but he did cover seven hundred and forty years, and when Playboy chose not to publish it, he decided to turn it into a touring show, in which he covered all his favourite songs from “Sumer Is Icumen In” from 1260: [Excerpt: Richard Thompson, “Sumer is Icumen In”] Through numerous traditional folk songs, union songs like “Blackleg Miner”, pieces by early-modern composers, Victorian and Edwardian music hall songs, and songs by the Beatles, the Ink Spots, the Kinks, and the Who, all the way to “Oops! I Did It Again”: [Excerpt: Richard Thompson, “Oops! I Did it Again”] And to finish the show, and to show how all this music actually ties together, he would play what he described as a “medieval tune from Brittany”, “Marry, Ageyn Hic Hev Donne Yt”: [Excerpt: Richard Thompson, “Marry, Ageyn Hic Hev Donne Yt”] We have said many times in this podcast that there is no first anything, but there’s a reason that Liege and Lief, Fairport Convention’s third album of 1969, and the album other than Unhalfbricking on which their reputation largely rests, was advertised with the slogan “The first (literally) British folk rock album ever”. Folk-rock, as the term had come to be known, and as it is still usually used today, had very little to do with traditional folk music. Rather, the records of bands like The Byrds or Simon and Garfunkel were essentially taking the sounds of British beat groups of the early sixties, particularly the Searchers, and applying those sounds to material by contemporary singer-songwriters. People like Paul Simon and Bob Dylan had come up through folk clubs, and their songs were called folk music because of that, but they weren’t what folk music had meant up to that point — songs that had been collected after being handed down through the folk process, changed by each individual singer, with no single identifiable author. They were authored songs by very idiosyncratic writers. But over their last few albums, Fairport Convention had done one or two tracks per album that weren’t like that, that were instead recordings of traditional folk songs, but arranged with rock instrumentation. They were not necessarily the first band to try traditional folk music with electric instruments — around the same time that Fairport started experimenting with the idea, so did an Irish band named Sweeney’s Men, who brought in a young electric guitarist named Henry McCullough briefly. But they do seem to have been the first to have fully embraced the idea. They had done so to an extent with “A Sailor’s Life” on Unhalfbricking, but now they were going to go much further: [Excerpt: Fairport Convention, “Matty Groves” (from about 4:30)] There had been some doubt as to whether Fairport Convention would even continue to exist — by the time Unhalfbricking, their second album of the year, was released, they had been through the terrible car accident that had killed Martin Lamble, the band’s drummer, and Jeannie Franklyn, Richard Thompson’s girlfriend. Most of the rest of the band had been seriously injured, and they had made a conscious decision not to discuss the future of the band until they were all out of hospital. Ashley Hutchings was hospitalised the longest, and Simon Nicol, Richard Thompson, and Sandy Denny, the other three surviving members of the band, flew over to LA with their producer and manager, Joe Boyd, to recuperate there and get to know the American music scene. When they came back, the group all met up in the flat belonging to Denny’s boyfriend Trevor Lucas, and decided that they were going to continue the band. They made a few decisions then — they needed a new drummer, and as well as a drummer they wanted to get in Dave Swarbrick. Swarbrick had played violin on several tracks on Unhalfbricking as a session player, and they had all been thrilled to work with him. Swarbrick was one of the most experienced musicians on the British folk circuit. He had started out in the fifties playing guitar with Beryl Marriott’s Ceilidh Band before switching to fiddle, and in 1963, long before Fairport had formed, he had already appeared on TV with the Ian Campbell Folk Group, led by Ian Campbell, the father of Ali and Robin Campbell, later of UB40: [Excerpt: The Ian Campbell Folk Group, “Shanten Bells (medley on Hullaballoo!)”] He’d sung with Ewan MacColl and A.L. Lloyd: [Excerpt: A.L. Lloyd, “Tom’s Gone to Hilo” ] And he’d formed his hugely successful duo with Martin Carthy, releasing records like “Byker Hill” which are often considered among the best British folk music of all time: [Excerpt: Martin Carthy and Dave Swarbrick, “Byker Hill”] By the time Fairport had invited him to play on Unhalfbricking, Swarbrick had already performed on twenty albums as a core band member, plus dozens more EPs, singles, and odd tracks on compilations. They had no reason to think they could actually get him to join their band. But they had three advantages. The first was that Swarbrick was sick of the traditional folk scene at the time, saying later “I didn’t like seven-eighths of the people involved in it, and it was extremely opportune to leave. I was suddenly presented with the possibilities of exploring the dramatic content of the songs to the full.” The second was that he was hugely excited to be playing with Richard Thompson, who was one of the most innovative guitarists of his generation, and Martin Carthy remembers him raving about Thompson after their initial sessions. (Carthy himself was and is no slouch on the guitar of course, and there was even talk of getting him to join the band at this point, though they decided against it — much to the relief of rhythm guitarist Simon Nicol, who is a perfectly fine player himself but didn’t want to be outclassed by *two* of the best guitarists in Britain at the same time). And the third was that Joe Boyd told him that Fairport were doing so well — they had a single just about to hit the charts with “Si Tu Dois Partir” — that he would only have to play a dozen gigs with Fairport in order to retire. As it turned out, Swarbrick would play with the group for a decade, and would never retire — I saw him on his last tour in 2015, only eight months before he died. The drummer the group picked was also a far more experienced musician than any of the rest, though in a very different genre. Dave Mattacks had no knowledge at all of the kind of music they played, having previously been a player in dance bands. When asked by Hutchings if he wanted to join the band, Mattacks’ response was “I don’t know anything about the music. I don’t understand it… I can’t tell one tune from another, they all sound the same… but if you want me to join the group, fine, because I really like it. I’m enjoying myself musically.” Mattacks brought a new level of professionalism to the band, thanks to his different background. Nicol said of him later “He was dilligent, clean, used to taking three white shirts to a gig… The application he could bring to his playing was amazing. With us, you only played well when you were feeling well.” This distinction applied to his playing as well. Nicol would later describe the difference between Mattacks’ drumming and Lamble’s by saying “Martin’s strength was as an imaginative drummer. DM came in with a strongly developed sense of rhythm, through keeping a big band of drunken saxophone players in order. A great time-keeper.” With this new line-up and a new sense of purpose, the group did as many of their contemporaries were doing and “got their heads together in the country”. Joe Boyd rented the group a mansion, Farley House, in Farley Chamberlayne, Hampshire, and they stayed there together for three months. At the start, the group seem to have thought that they were going to make another record like Unhalfbricking, with some originals, some songs by American songwriters, and a few traditional songs. Even after their stay in Farley Chamberlayne, in fact, they recorded a few of the American songs they’d rehearsed at the start of the process, Richard Farina’s “Quiet Joys of Brotherhood” and Bob Dylan and Roger McGuinn’s “Ballad of Easy Rider”: [Excerpt: Fairport Convention, “Ballad of Easy Rider”] Indeed, the whole idea of “getting our heads together in the country” (as the cliche quickly became in the late sixties as half of the bands in Britain went through much the same kind of process as Fairport were doing — but usually for reasons more to do with drug burnout or trend following than recovering from serious life-changing trauma) seems to have been inspired by Bob Dylan and the Band getting together in Big Pink. But very quickly they decided to follow the lead of Ashley Hutchings, who had had something of a Damascene conversion to the cause of traditional English folk music. They were listening mostly to Music From Big Pink by the Band, and to the first album by Sweeney’s Men: [Excerpt: Sweeney’s Men, “The Handsome Cabin Boy”] And they decided that they were going to make something that was as English as those records were North American and Irish (though in the event there were also a few Scottish songs included on the record). Hutchings in particular was becoming something of a scholar of traditional music, regularly visiting Cecil Sharp House and having long conversations with A.L. Lloyd, discovering versions of different traditional songs he’d never encountered before. This was both amusing and bemusing Sandy Denny, who had joined a rock group in part to get away from traditional music; but she was comfortable singing the material, and knew a lot of it and could make a lot of suggestions herself. Swarbrick obviously knew the repertoire intimately, and Nicol was amenable, while Mattacks was utterly clueless about the folk tradition at this point but knew this was the music he wanted to make. Thompson knew very little about traditional music, and of all the band members except Denny he was the one who has shown the least interest in the genre in his subsequent career — but as we heard at the beginning, showing the least interest in the genre is a relative thing, and while Thompson was not hugely familiar with the genre, he *was* able to work with it, and was also more than capable of writing songs that fit in with the genre. Of the eleven songs on the album, which was titled Liege and Lief (which means, roughly, Lord and Loyalty), there were no cover versions of singer-songwriters. Eight were traditional songs, and three were originals, all written in the style of traditional songs. The album opened with “Come All Ye”, an introduction written by Denny and Hutchings (the only time the two would ever write together): [Excerpt: Fairport Convention, “Come All Ye”] The other two originals were songs where Thompson had written new lyrics to traditional melodies. On “Crazy Man Michael”, Swarbrick had said to Thompson that the tune to which he had set his new words was weaker than the lyrics, to which Thompson had replied that if Swarbrick felt that way he should feel free to write a new melody. He did, and it became the first of the small number of Thompson/Swarbrick collaborations: [Excerpt: Fairport Convention, “Crazy Man Michael”] Thompson and Swarbrick would become a brief songwriting team, but as much as anything else it was down to proximity — the two respected each other as musicians, but never got on very well. In 1981 Swarbrick would say “Richard and I never got on in the early days of FC… we thought we did, but we never did. We composed some bloody good songs together, but it was purely on a basis of “you write that and I’ll write this, and we’ll put it together.” But we never sat down and had real good chats.” The third original on the album, and by far the most affecting, is another song where Thompson put lyrics to a traditional tune. In this case he thought he was putting the lyrics to the tune of “Willie O'Winsbury”, but he was basing it on a recording by Sweeney’s Men. The problem was that Sweeney’s Men had accidentally sung the lyrics of “Willie O'Winsbury'” to the tune of a totally different song, “Fause Foodrage”: [Excerpt: Sweeney’s Men, “Willie O’Winsbury”] Thompson took that melody, and set to it lyrics about loss and separation. Thompson has never been one to discuss the meanings of his lyrics in any great detail, and in the case of this one has said “I really don't know what it means. This song came out of a dream, and I pretty much wrote it as I dreamt it (it was the sixties), and didn't spend very long analyzing it. So interpret as you wish – or replace with your own lines.” But in the context of the traffic accident that had killed his tailor girlfriend and a bandmate, and injured most of his other bandmates, the lyrics about lonely travellers, the winding road, bruised and beaten sons, saying goodbye, and never cutting cloth, seem fairly self-explanatory: [Excerpt: Fairport Convention, “Farewell, Farewell”] The rest of the album, though, was taken up by traditional tunes. There was a long medley of four different fiddle reels; a version of “Reynardine” (a song about a seductive man — or is he a fox? Or perhaps both — which had been recorded by Swarbrick and Carthy on their most recent album); a 19th century song about a deserter saved from the firing squad by Prince Albert; and a long take on “Tam Lin”, one of the most famous pieces in the Scottish folk music canon, a song that has been adapted in different ways by everyone from the experimental noise band Current 93 to the dub poet Benjamin Zephaniah to the comics writer Grant Morrison: [Excerpt: Fairport Convention, “Tam Lin”] And “Matty Groves”, a song about a man killing his cheating wife and her lover, which actually has a surprisingly similar story to that of “1921” from another great concept album from that year, the Who’s Tommy. “Matty Groves” became an excuse for long solos and shows of instrumental virtuosity: [Excerpt: Fairport Convention, “Matty Groves”] The album was recorded in September 1969, after their return from their break in the country and a triumphal performance at the Royal Festival Hall, headlining over fellow Witchseason artists John and Beverly Martyn and Nick Drake. It became a classic of the traditional folk genre — arguably *the* classic of the traditional folk genre. In 2007 BBC Radio 2’s Folk Music Awards gave it an award for most influential folk album of all time, and while such things are hard to measure, I doubt there’s anyone with even the most cursory knowledge of British folk and folk-rock music who would not at least consider that a reasonable claim. But once again, by the time the album came out in November, the band had changed lineups yet again. There was a fundamental split in the band – on one side were Sandy Denny and Richard Thompson, whose stance was, roughly, that Liege and Lief was a great experiment and a fun thing to do once, but really the band had two first-rate songwriters in themselves, and that they should be concentrating on their own new material, not doing these old songs, good as they were. They wanted to take the form of the traditional songs and use that form for new material — they wanted to make British folk-rock, but with the emphasis on the rock side of things. Hutchings, on the other hand, was equally sure that he wanted to make traditional music and go further down the rabbit hole of antiquity. With the zeal of the convert he had gone in a couple of years from being the leader of a band who were labelled “the British Jefferson Airplane” to becoming a serious scholar of traditional folk music. Denny was tired of touring, as well — she wanted to spend more time at home with Trevor Lucas, who was sleeping with other women when she was away and making her insecure. When the time came for the group to go on a tour of Denmark, Denny decided she couldn’t make it, and Hutchings was jubilant — he decided he was going to get A.L. Lloyd into the band in her place and become a *real* folk group. Then Denny reconsidered, and Hutchings was crushed. He realised that while he had always been the leader, he wasn’t going to be able to lead the band any further in the traditionalist direction, and quit the group — but not before he was delegated by the other band members to fire Denny. Until the publication of Richard Thompson’s autobiography in 2022, every book on the group or its members said that Denny quit the band again, which was presumably a polite fiction that the band agreed, but according to Thompson “Before we flew home, we decided to fire Sandy. I don't remember who asked her to leave – it was probably Ashley, who usually did the dirty work. She was reportedly shocked that we would take that step. She may have been fragile beneath the confident facade, but she still knew her worth.” Thompson goes on to explain that the reasons for kicking her out were that “I suppose we felt that in her mind she had already left” and that “We were probably suffering from post-traumatic stress disorder, though there wasn't a name for it back then.” They had considered inviting Trevor Lucas to join the band to make Denny more comfortable, but came to the (probably correct) conclusion that while he was someone they got on well with personally, he would be another big ego in a band that already had several, and that being around Denny and Lucas’ volatile relationship would, in Thompson’s phrasing, “have not always given one a feeling of peace and stability.” Hutchings originally decided he was going to join Sweeney’s Men, but that group were falling apart, and their first rehearsal with Hutchings would also be their last as a group, with only Hutchings and guitarist and mandolin player Terry Woods left in the band. They added Woods’ wife Gay, and another couple, Tim Hart and Maddy Prior, and formed a group called Steeleye Span, a name given them by Martin Carthy. That group, like Fairport, went to “get their heads together in the country” for three months and recorded an album of electric versions of traditional songs, Hark the Village Wait, on which Mattacks and another drummer, Gerry Conway, guested as Steeleye Span didn’t at the time have their own drummer: [Excerpt: Steeleye Span, “Blackleg Miner”] Steeleye Span would go on to have a moderately successful chart career in the seventies, but by that time most of the original lineup, including Hutchings, had left — Hutchings stayed with them for a few albums, then went on to form the first of a series of bands, all called the Albion Band or variations on that name, which continue to this day. And this is something that needs to be pointed out at this point — it is impossible to follow every single individual in this narrative as they move between bands. There is enough material in the history of the British folk-rock scene that someone could do a 500 Songs-style podcast just on that, and every time someone left Fairport, or Steeleye Span, or the Albion Band, or Matthews’ Southern Comfort, or any of the other bands we have mentioned or will mention, they would go off and form another band which would then fission, and some of its members would often join one of those other bands. There was a point in the mid-1970s where the Albion Band had two original members of Fairport Convention while Fairport Convention had none. So just in order to keep the narrative anything like wieldy, I’m going to keep the narrative concentrated on the two figures from Fairport — Sandy Denny and Richard Thompson — whose work outside the group has had the most influence on the wider world of rock music more broadly, and only deal with the other members when, as they often did, their careers intersected with those two. That doesn’t mean the other members are not themselves hugely important musicians, just that their importance has been primarily to the folk side of the folk-rock genre, and so somewhat outside the scope of this podcast. While Hutchings decided to form a band that would allow him to go deeper and deeper into traditional folk music, Sandy Denny’s next venture was rather different. For a long time she had been writing far more songs than she had ever played for her bandmates, like “Nothing More”, a song that many have suggested is about Thompson: [Excerpt: Fotheringay, “Nothing More”] When Joe Boyd heard that Denny was leaving Fairport Convention, he was at first elated. Fairport’s records were being distributed by A&M in the US at that point, but Island Records was in the process of opening up a new US subsidiary which would then release all future Fairport product — *but*, as far as A&M were concerned, Sandy Denny *was* Fairport Convention. They were only interested in her. Boyd, on the other hand, loved Denny’s work intensely, but from his point of view *Richard Thompson* was Fairport Convention. If he could get Denny signed directly to A&M as a solo artist before Island started its US operations, Witchseason could get a huge advance on her first solo record, while Fairport could continue making records for Island — he’d have two lucrative acts, on different labels. Boyd went over and spoke to A&M and got an agreement in principle that they would give Denny a forty-thousand-dollar advance on her first solo album — twice what they were paying for Fairport albums. The problem was that Denny didn’t want to be a solo act. She wanted to be the lead singer of a band. She gave many reasons for this — the one she gave to many journalists was that she had seen a Judy Collins show and been impressed, but noticed that Collins’ band were definitely a “backing group”, and as she put it “But that's all they were – a backing group. I suddenly thought, If you're playing together on a stage you might as well be TOGETHER.” Most other people in her life, though, say that the main reason for her wanting to be in a band was her desire to be with her boyfriend, Trevor Lucas. Partly this was due to a genuine desire to spend more time with someone with whom she was very much in love, partly it was a fear that he would cheat on her if she was away from him for long periods of time, and part of it seems to have been Lucas’ dislike of being *too* overshadowed by his talented girlfriend — he didn’t mind acknowledging that she was a major talent, but he wanted to be thought of as at least a minor one. So instead of going solo, Denny formed Fotheringay, named after the song she had written for Fairport. This new band consisted at first of Denny on vocals and occasional piano, Lucas on vocals and rhythm guitar, and Lucas’ old Eclection bandmate Gerry Conway on drums. For a lead guitarist, they asked Richard Thompson who the best guitarist in Britain was, and he told them Albert Lee. Lee in turn brought in bass player Pat Donaldson, but this lineup of the band barely survived a fortnight. Lee *was* arguably the best guitarist in Britain, certainly a reasonable candidate if you could ever have a singular best (as indeed was Thompson himself), but he was the best *country* guitarist in Britain, and his style simply didn’t fit with Fotheringay’s folk-influenced songs. He was replaced by American guitarist Jerry Donahue, who was not anything like as proficient as Lee, but who was still very good, and fit the band’s style much better. The new group rehearsed together for a few weeks, did a quick tour, and then went into the recording studio to record their debut, self-titled, album. Joe Boyd produced the album, but admitted himself that he only paid attention to those songs he considered worthwhile — the album contained one song by Lucas, “The Ballad of Ned Kelly”, and two cover versions of American singer-songwriter material with Lucas singing lead. But everyone knew that the songs that actually *mattered* were Sandy Denny’s, and Boyd was far more interested in them, particularly the songs “The Sea” and “The Pond and the Stream”: [Excerpt: Fotheringay, “The Pond and the Stream”] Fotheringay almost immediately hit financial problems, though. While other Witchseason acts were used to touring on the cheap, all packed together in the back of a Transit van with inexpensive equipment, Trevor Lucas had ambitions of being a rock star and wanted to put together a touring production to match, with expensive transport and equipment, including a speaker system that got nicknamed “Stonehenge” — but at the same time, Denny was unhappy being on the road, and didn’t play many gigs. As well as the band itself, the Fotheringay album also featured backing vocals from a couple of other people, including Denny’s friend Linda Peters. Peters was another singer from the folk clubs, and a good one, though less well-known than Denny — at this point she had only released a couple of singles, and those singles seemed to have been as much as anything else released as a novelty. The first of those, a version of Dylan’s “You Ain’t Goin’ Nowhere” had been released as by “Paul McNeill and Linda Peters”: [Excerpt: Paul McNeill and Linda Peters, “You Ain’t Goin’ Nowhere”] But their second single, a version of John D. Loudermilk’s “You’re Taking My Bag”, was released on the tiny Page One label, owned by Larry Page, and was released under the name “Paul and Linda”, clearly with the intent of confusing particularly gullible members of the record-buying public into thinking this was the McCartneys: [Excerpt: Paul and Linda, “You’re Taking My Bag”] Peters was though more financially successful than almost anyone else in this story, as she was making a great deal of money as a session singer. She actually did another session involving most of Fotheringay around this time. Witchseason had a number of excellent songwriters on its roster, and had had some success getting covers by people like Judy Collins, but Joe Boyd thought that they might possibly do better at getting cover versions if they were performed in less idiosyncratic arrangements. Donahue, Donaldson, and Conway went into the studio to record backing tracks, and vocals were added by Peters and another session singer, who according to some sources also provided piano. They cut songs by Mike Heron of the Incredible String Band: [Excerpt: Linda Peters, “You Get Brighter”] Ed Carter, formerly of The New Nadir but by this time firmly ensconced in the Beach Boys’ touring band where he would remain for the next quarter-century: [Excerpt: Linda Peters, “I Don’t Mind”] John and Beverly Martyn, and Nick Drake: [Excerpt: Elton John, “Saturday Sun”] There are different lineups of musicians credited for those sessions in different sources, but I tend to believe that it’s mostly Fotheringay for the simple reason that Donahue says it was him, Donaldson and Conway who talked Lucas and Denny into the mistake that destroyed Fotheringay because of these sessions. Fotheringay were in financial trouble already, spending far more money than they were bringing in, but their album made the top twenty and they were getting respect both from critics and from the public — in September, Sandy Denny was voted best British female singer by the readers of Melody Maker in their annual poll, which led to shocked headlines in the tabloids about how this “unknown” could have beaten such big names as Dusty Springfield and Cilla Black. Only a couple of weeks after that, they were due to headline at the Albert Hall. It should have been a triumph. But Donahue, Donaldson, and Conway had asked that singing pianist to be their support act. As Donahue said later “That was a terrible miscast. It was our fault. He asked if [he] could do it. Actually Pat, Gerry and I had to talk Sandy and Trevor into [it]… We'd done these demos and the way he was playing – he was a wonderful piano player – he was sensitive enough. We knew very little about his stage-show. We thought he'd be a really good opener for us.” Unfortunately, Elton John was rather *too* good. As Donahue continued “we had no idea what he had in mind, that he was going to do the most incredible rock & roll show ever. He pretty much blew us off the stage before we even got on the stage.” To make matters worse, Fotheringay’s set, which was mostly comprised of new material, was underrehearsed and sloppy, and from that point on no matter what they did people were counting the hours until the band split up. They struggled along for a while though, and started working on a second record, with Boyd again producing, though as Boyd later said “I probably shouldn't have been producing the record. My lack of respect for the group was clear, and couldn't have helped the atmosphere. We'd put out a record that had sold disappointingly, A&M was unhappy. Sandy's tracks on the first record are among the best things she ever did – the rest of it, who cares? And the artwork, Trevor's sister, was terrible. It would have been one thing if I'd been unhappy with it and it sold, and the group was working all the time, making money, but that wasn't the case … I knew what Sandy was capable of, and it was very upsetting to me.” The record would not be released for thirty-eight years: [Excerpt: Fotheringay, “Wild Mountain Thyme”] Witchseason was going badly into debt. Given all the fissioning of bands that we’ve already been talking about, Boyd had been stretched thin — he produced sixteen albums in 1970, and almost all of them lost money for the company. And he was getting more and more disillusioned with the people he was producing. He loved Beverly Martyn’s work, but had little time for her abusive husband John, who was dominating her recording and life more and more and would soon become a solo artist while making her stay at home (and stealing her ideas without giving her songwriting credit). The Incredible String Band were great, but they had recently converted to Scientology, which Boyd found annoying, and while he was working with all sorts of exciting artists like Vashti Bunyan and Nico, he was finding himself less and less important to the artists he mentored. Fairport Convention were a good example of this. After Denny and Hutchings had left the group, they’d decided to carry on as an electric folk group, performing an equal mix of originals by the Swarbrick and Thompson songwriting team and arrangements of traditional songs. The group were now far enough away from the “British Jefferson Airplane” label that they decided they didn’t need a female vocalist — and more realistically, while they’d been able to replace Judy Dyble, nobody was going to replace Sandy Denny. Though it’s rather surprising when one considers Thompson’s subsequent career that nobody seems to have thought of bringing in Denny’s friend Linda Peters, who was dating Joe Boyd at the time (as Denny had been before she met Lucas) as Denny’s replacement. Instead, they decided that Swarbrick and Thompson were going to share the vocals between them. They did, though, need a bass player to replace Hutchings. Swarbrick wanted to bring in Dave Pegg, with whom he had played in the Ian Campbell Folk Group, but the other band members initially thought the idea was a bad one. At the time, while they respected Swarbrick as a musician, they didn’t think he fully understood rock and roll yet, and they thought the idea of getting in a folkie who had played double bass rather than an electric rock bassist ridiculous. But they auditioned him to mollify Swarbrick, and found that he was exactly what they needed. As Joe Boyd later said “All those bass lines were great, Ashley invented them all, but he never could play them that well. He thought of them, but he was technically not a terrific bass player. He was a very inventive, melodic, bass player, but not a very powerful one technically. But having had the part explained to him once, Pegg was playing it better than Ashley had ever played it… In some rock bands, I think, ultimately, the bands that sound great, you can generally trace it to the bass player… it was at that point they became a great band, when they had Pegg.” The new lineup of Fairport decided to move in together, and found a former pub called the Angel, into which all the band members moved, along with their partners and children (Thompson was the only one who was single at this point) and their roadies. The group lived together quite happily, and one gets the impression that this was the period when they were most comfortable with each other, even though by this point they were a disparate group with disparate tastes, in music as in everything else. Several people have said that the only music all the band members could agree they liked at this point was the first two albums by The Band. With the departure of Hutchings from the band, Swarbrick and Thompson, as the strongest personalities and soloists, became in effect the joint leaders of the group, and they became collaborators as songwriters, trying to write new songs that were inspired by traditional music. Thompson described the process as “let’s take one line of this reel and slow it down and move it up a minor third and see what that does to it; let’s take one line of this ballad and make a whole song out of it. Chopping up the tradition to find new things to do… like a collage.” Generally speaking, Swarbrick and Thompson would sit by the fire and Swarbrick would play a melody he’d been working on, the two would work on it for a while, and Thompson would then go away and write the lyrics. This is how the two came up with songs like the nine-minute “Sloth”, a highlight of the next album, Full House, and one that would remain in Fairport’s live set for much of their career: [Excerpt: Fairport Convention, “Sloth”] “Sloth” was titled that way because Thompson and Swarbrick were working on two tunes, a slow one and a fast one, and they jokingly named them “Sloth” and “Fasth”, but the latter got renamed to “Walk Awhile”, while “Sloth” kept its working title. But by this point, Boyd and Thompson were having a lot of conflict in the studio. Boyd was never the most technical of producers — he was one of those producers whose job is to gently guide the artists in the studio and create a space for the music to flourish, rather than the Joe Meek type with an intimate technical knowledge of the studio — and as the artists he was working with gained confidence in their own work they felt they had less and less need of him. During the making of the Full House album, Thompson and Boyd, according to Boyd, clashed on everything — every time Boyd thought Thompson had done a good solo, Thompson would say to erase it and let him have another go, while every time Boyd thought Thompson could do better, Thompson would say that was the take to keep. One of their biggest clashes was over Thompson’s song “Poor Will and the Jolly Hangman”, which was originally intended for release on the album, and is included in current reissues of it: [Excerpt: Fairport Convention, “Poor Will and the Jolly Hangman”] Thompson had written that song inspired by what he thought was the unjust treatment of Alex Bramham, the driver in Fairport’s fatal car crash, by the courts — Bramham had been given a prison sentence of a few months for dangerous driving, while the group members thought he had not been at fault. Boyd thought it was one of the best things recorded for the album, but Thompson wasn’t happy with his vocal — there was one note at the top of the melody that he couldn’t quite hit — and insisted it be kept off the record, even though that meant it would be a shorter album than normal. He did this at such a late stage that early copies of the album actually had the title printed on the sleeve, but then blacked out. He now says in his autobiography “I could have persevered, double-tracked the voice, warmed up for longer – anything. It was a good track, and the record was lacking without it. When the album was re-released, the track was restored with a more confident vocal, and it has stayed there ever since.” During the sessions for Full House the group also recorded one non-album single, Thompson and Swarbrick’s “Now Be Thankful”: [Excerpt, Fairport Convention, “Now Be Thankful”] The B-side to that was a medley of two traditional tunes plus a Swarbrick original, but was given the deliberately ridiculous title “Sir B. McKenzie’s Daughter’s Lament For The 77th Mounted Lancers Retreat From The Straits Of Loch Knombe, In The Year Of Our Lord 1727, On The Occasion Of The Announcement Of Her Marriage To The Laird Of Kinleakie”: [Excerpt: Fairport Convention, “Sir B. McKenzie’s Daughter’s Lament For The 77th Mounted Lancers Retreat From The Straits Of Loch Knombe, In The Year Of Our Lord 1727, On The Occasion Of The Announcement Of Her Marriage To The Laird Of Kinleakie”] The B. McKenzie in the title was a reference to the comic-strip character Barry McKenzie, a stereotype drunk Australian created for Private Eye magazine by the comedian Barry Humphries (later to become better known for his Dame Edna Everage character) but the title was chosen for one reason only — to get into the Guinness Book of Records for the song with the longest title. Which they did, though they were later displaced by the industrial band Test Dept, and their song “Long Live British Democracy Which Flourishes and Is Constantly Perfected Under the Immaculate Guidance of the Great, Honourable, Generous and Correct Margaret Hilda Thatcher. She Is the Blue Sky in the Hearts of All Nations. Our People Pay Homage and Bow in Deep Respect and Gratitude to Her. The Milk of Human Kindness”. Full House got excellent reviews in the music press, with Rolling Stone saying “The music shows that England has finally gotten her own equivalent to The Band… By calling Fairport an English equivalent of the Band, I meant that they have soaked up enough of the tradition of their countryfolk that it begins to show all over, while they maintain their roots in rock.” Off the back of this, the group went on their first US tour, culminating in a series of shows at the Troubadour in LA, on the same bill as Rick Nelson, which were recorded and later released as a live album: [Excerpt: Fairport Convention, “Sloth (live)”] The Troubadour was one of the hippest venues at the time, and over their residency there the group got seen by many celebrities, some of whom joined them on stage. The first was Linda Ronstadt, who initially demurred, saying she didn’t know any of their songs. On being told they knew all of hers, she joined in with a rendition of “Silver Threads and Golden Needles”. Thompson was later asked to join Ronstadt’s backing band, who would go on to become the Eagles, but he said later of this offer “I would have hated it. I’d have hated being on the road with four or five miserable Americans — they always seem miserable. And if you see them now, they still look miserable on stage — like they don’t want to be there and they don’t like each other.” The group were also joined on stage at the Troubadour on one memorable night by some former bandmates of Pegg’s. Before joining the Ian Campbell Folk Group, Pegg had played around the Birmingham beat scene, and had been in bands with John Bonham and Robert Plant, who turned up to the Troubadour with their Led Zeppelin bandmate Jimmy Page (reports differ on whether the fourth member of Zeppelin, John Paul Jones, also came along). They all got up on stage together and jammed on songs like “Hey Joe”, “Louie Louie”, and various old Elvis tunes. The show was recorded, and the tapes are apparently still in the possession of Joe Boyd, who has said he refuses to release them in case he is murdered by the ghost of Peter Grant. According to Thompson, that night ended in a three-way drinking contest between Pegg, Bonham, and Janis Joplin, and it’s testament to how strong the drinking culture is around Fairport and the British folk scene in general that Pegg outdrank both of them. According to Thompson, Bonham was found naked by a swimming pool two days later, having missed two gigs. For all their hard rock image, Led Zeppelin were admirers of a lot of the British folk and folk-rock scene, and a few months later Sandy Denny would become the only outside vocalist ever to appear on a Led Zeppelin record when she duetted with Plant on “The Battle of Evermore” on the group’s fourth album: [Excerpt: Led Zeppelin, “The Battle of Evermore”] Denny would never actually get paid for her appearance on one of the best-selling albums of all time. That was, incidentally, not the only session that Denny was involved in around this time — she also sang on the soundtrack to a soft porn film titled Swedish Fly Girls, whose soundtrack was produced by Manfred Mann: [Excerpt: Sandy Denny, “What Will I Do With Tomorrow?”] Shortly after Fairport’s trip to America, Joe Boyd decided he was giving up on Witchseason. The company was now losing money, and he was finding himself having to produce work for more and more acts as the various bands fissioned. The only ones he really cared about were Richard Thompson, who he was finding it more and more difficult to work with, Nick Drake, who wanted to do his next album with just an acoustic guitar anyway, Sandy Denny, who he felt was wasting her talents in Fotheringay, and Mike Heron of the Incredible String Band, who was more distant since his conversion to Scientology. Boyd did make some attempts to keep the company going. On a trip to Sweden, he negotiated an agreement with the manager and publisher of a Swedish band whose songs he’d found intriguing, the Hep Stars. Boyd was going to publish their songs in the UK, and in return that publisher, Stig Anderson, would get the rights to Witchseason’s catalogue in Scandinavia — a straight swap, with no money changing hands. But before Boyd could get round to signing the paperwork, he got a better offer from Mo Ostin of Warners — Ostin wanted Boyd to come over to LA and head up Warners’ new film music department. Boyd sold Witchseason to Island Records and moved to LA with his fiancee Linda Peters, spending the next few years working on music for films like Deliverance and A Clockwork Orange, as well as making his own documentary about Jimi Hendrix, and thus missed out on getting the UK publishing rights for ABBA, and all the income that would have brought him, for no money. And it was that decision that led to the breakup of Fotheringay. Just before Christmas 1970, Fotheringay were having a difficult session, recording the track “John the Gun”: [Excerpt: Fotheringay, “John the Gun”] Boyd got frustrated and kicked everyone out of the session, and went for a meal and several drinks with Denny. He kept insisting that she should dump the band and just go solo, and then something happened that the two of them would always describe differently. She asked him if he would continue to produce her records if she went solo, and he said he would. According to Boyd’s recollection of the events, he meant that he would fly back from California at some point to produce her records. According to Denny, he told her that if she went solo he would stay in Britain and not take the job in LA. This miscommunication was only discovered after Denny told the rest of Fotheringay after the Christmas break that she was splitting the band. Jerry Donahue has described that as the worst moment of his life, and Denny felt very guilty about breaking up a band with some of her closest friends in — and then when Boyd went over to the US anyway she felt a profound betrayal. Two days before Fotheringay’s final concert, in January 1971, Sandy Denny signed a solo deal with Island records, but her first solo album would not end up produced by Joe Boyd. Instead, The North Star Grassman and the Ravens was co-produced by Denny, John Wood — the engineer who had worked with Boyd on pretty much everything he’d produced, and Richard Thompson, who had just quit Fairport Convention, though he continued living with them at the Angel, at least until a truck crashed into the building in February 1971, destroying its entire front wall and forcing them to relocate. The songs chosen for The North Star Grassman and the Ravens reflected the kind of choices Denny would make on her future albums, and her eclectic taste in music. There was, of course, the obligatory Dylan cover, and the traditional folk ballad “Blackwaterside”, but there was also a cover version of Brenda Lee’s “Let’s Jump the Broomstick”: [Excerpt: Sandy Denny, “Let’s Jump the Broomstick”] Most of the album, though, was made up of originals about various people in Denny’s life, like “Next Time Around”, about her ex-boyfriend Jackson C Frank: [Excerpt: Sandy Denny, “Next Time Around”] The album made the top forty in the UK — Denny’s only solo album to do so — and led to her once again winning the “best female singer” award in Melody Maker’s readers’ poll that year — the male singer award was won by Rod Stewart. Both Stewart and Denny appeared the next year on the London Symphony Orchestra’s all-star version of The Who’s Tommy, which had originally been intended as a vehicle for Stewart before Roger Daltrey got involved. Stewart’s role was reduced to a single song, “Pinball Wizard”, while Denny sang on “It’s a Boy”: [Excerpt: Sandy Denny, “It’s a Boy”] While Fotheringay had split up, all the band members play on The North Star Grassman and the Ravens. Guitarists Donahue and Lucas only play on a couple of the tracks, with Richard Thompson playing most of the guitar on the record. But Fotheringay’s rhythm section of Pat Donaldson and Gerry Conway play on almost every track. Another musician on the album, Ian Whiteman, would possibly have a profound effect on the future direction of Richard Thompson’s career and life. Whiteman was the former keyboard player for the mod band The Action, having joined them just before they became the blues-rock band Mighty Baby. But Mighty Baby had split up when all of the band except the lead singer had converted to Islam. Richard Thompson was on his own spiritual journey at this point, and became a Sufi – the same branch of Islam as Whiteman – soon after the session, though Thompson has said that his conversion was independent of Whiteman’s. The two did become very close and work together a lot in the mid-seventies though. Thompson had supposedly left Fairport because he was writing material that wasn’t suited to the band, but he spent more than a year after quitting the group working on sessions rather than doing anything with his own material, and these sessions tended to involve the same core group of musicians. One of the more unusual was a folk-rock supergroup called The Bunch, put together by Trevor Lucas. Richard Branson had recently bought a recording studio, and wanted a band to test it out before opening it up for commercial customers, so with this free studio time Lucas decided to record a set of fifties rock and roll covers. He gathered together Thompson, Denny, Whiteman, Ashley Hutchings, Dave Mattacks, Pat Donaldson, Gerry Conway, pianist Tony Cox, the horn section that would later form the core of the Average White Band, and Linda Peters, who had now split up with Joe Boyd and returned to the UK, and who had started dating Thompson. They recorded an album of covers of songs by Jerry Lee Lewis, the Everly Brothers, Johnny Otis and others: [Excerpt: The Bunch, “Willie and the Hand Jive”] The early seventies was a hugely productive time for this group of musicians, as they all continued playing on each other’s projects. One notable album was No Roses by Shirley Collins, which featured Thompson, Mattacks, Whiteman, Simon Nicol, Lal and Mike Waterson, and Ashley Hutchings, who was at that point married to Collins, as well as some more unusual musicians like the free jazz saxophonist Lol Coxhill: [Excerpt: Shirley Collins and the Albion Country Band, “Claudy Banks”] Collins was at the time the most respected female singer in British traditional music, and already had a substantial career including a series of important records made with her sister Dolly, work with guitarists like Davey Graham, and time spent in the 1950s collecting folk songs in the Southern US with her then partner Alan Lomax – according to Collins she did much of the actual work, but Lomax only mentioned her in a single sentence in his book on this work. Some of the same group of musicians went on to work on an album of traditional Morris dancing tunes, titled Morris On, credited to “Ashley Hutchings, Richard Thompson, Dave Mattacks, John Kirkpatrick and Barry Dransfield”, with Collins singing lead on two tracks: [Excerpt: Ashley Hutchings, Richard Thompson, Dave Mattacks, John Kirkpatrick and Barry Dransfield with Shirley Collins, “The Willow Tree”] Thompson thought that that album was the best of the various side projects he was involved in at the time, comparing it favourably to Rock On, which he thought was rather slight, saying later “Conceptually, Fairport, Ashley and myself and Sandy were developing a more fragile style of music that nobody else was particularly interested in, a British Folk Rock idea that had a logical development to it, although we all presented it our own way. Morris On was rather more true to what we were doing. Rock On was rather a retro step. I'm not sure it was lasting enough as a record but Sandy did sing really well on the Buddy Holly songs.” Hutchings used the musicians on No Roses and Morris On as the basis for his band the Albion Band, which continues to this day. Simon Nicol and Dave Mattacks both quit Fairport to join the Albion Band, though Mattacks soon returned. Nicol would not return to Fairport for several years, though, and for a long period in the mid-seventies Fairport Convention had no original members. Unfortunately, while Collins was involved in the Albion Band early on, she and Hutchings ended up divorcing, and the stress from the divorce led to Collins developing spasmodic dysphonia, a stress-related illness which makes it impossible for the sufferer to sing. She did eventually regain her vocal ability, but between 1978 and 2016 she was unable to perform at all, and lost decades of her career. Richard Thompson occasionally performed with the Albion Band early on, but he was getting stretched a little thin with all these sessions. Linda Peters said later of him “When I came back from America, he was working in Sandy’s band, and doing sessions by the score. Always with Pat Donaldson and Dave Mattacks. Richard would turn up with his guitar, one day he went along to do a session with one of those folkie lady singers — and there were Pat and DM. They all cracked. Richard smashed his amp and said “Right! No more sessions!” In 1972 he got round to releasing his first solo album, Henry the Human Fly, which featured guest appearances by Linda Peters and Sandy Denny among others: [Excerpt: Richard Thompson, “The Angels Took My Racehorse Away”] Unfortunately, while that album has later become regarded as one of the classics of its genre, at the time it was absolutely slated by the music press. The review in Melody Maker, for example, read in part “Some of Richard Thompson’s ideas sound great – which is really the saving grace of this album, because most of the music doesn’t. The tragedy is that Thompson’s “British rock music” is such an unconvincing concoction… Even the songs that do integrate rock and traditional styles of electric guitar rhythms and accordion and fiddle decoration – and also include explicit, meaningful lyrics are marred by bottle-up vocals, uninspiring guitar phrases and a general lack of conviction in performance.” Henry the Human Fly was released in the US by Warners, who had a reciprocal licensing deal with Island (and for whom Joe Boyd was working at the time, which may have had something to do with that) but according to Thompson it became the lowest-selling record that Warners ever put out (though I’ve also seen that claim made about Van Dyke Parks’ Song Cycle, another album that has later been rediscovered). Thompson was hugely depressed by this reaction, and blamed his own singing. Happily, though, by this point he and Linda had become a couple — they would marry in 1972 — and they started playing folk clubs as a duo, or sometimes in a trio with Simon Nicol. Thompson was also playing with Sandy Denny’s backing band at this point, and played on every track on her second solo album, Sandy. This album was meant to be her big commercial breakthrough, with a glamorous cover photo by David Bailey, and with a more American sound, including steel guitar by Sneaky Pete Kleinow of the Flying Burrito Brothers (whose overdubs were supervised in LA by Joe Boyd): [Excerpt: Sandy Denny, “Tomorrow is a Long Time”] The album was given a big marketing push by Island, and “Listen, Listen” was made single of the week on the Radio 1 Breakfast show: [Excerpt: Sandy Denny, “Listen, Listen”] But it did even worse than the previous album, sending her into something of a depression. Linda Thompson (as the former Linda Peters now was) said of this period “After the Sandy album, it got her down that her popularity didn't suddenly increase in leaps and bounds, and that was the start of her really fretting about the way her career was going. Things only escalated after that. People like me or Martin Carthy or Norma Waterson would think, ‘What are you on about? This is folk music.'” After Sandy’s release, Denny realised she could no longer afford to tour with a band, and so went back to performing just acoustically or on piano. The only new music to be released by either of these ex-members of Fairport Convention in 1973 was, oddly, on an album by the band they were no longer members of. After Thompson had left Fairport, the group had managed to release two whole albums with the same lineup — Swarbrick, Nicol, Pegg, and Mattacks. But then Nicol and Mattacks had both quit the band to join the Albion Band with their former bandmate Ashley Hutchings, leading to a situation where the Albion Band had two original members of Fairport plus their longtime drummer while Fairport Convention itself had no original members and was down to just Swarbrick and Pegg. Needing to fulfil their contracts, they then recruited three former members of Fotheringay — Lucas on vocals and rhythm guitar, Donahue on lead guitar, and Conway on drums. Conway was only a session player at the time, and Mattacks soon returned to the band, but Lucas and Donahue became full-time members. This new lineup of Fairport Convention released two albums in 1973, widely regarded as the group’s most inconsistent records, and on the title track of the first, “Rosie”, Richard Thompson guested on guitar, with Sandy Denny and Linda Thompson on backing vocals: [Excerpt: Fairport Convention, “Rosie”] Neither Sandy Denny nor Richard Thompson released a record themselves in 1973, but in neither case was this through the artists’ choice. The record industry was changing in the early 1970s, as we’ll see in later episodes, and was less inclined to throw good money after bad in the pursuit of art. Island Records prided itself on being a home for great artists, but it was still a business, and needed to make money. We’ll talk about the OPEC oil crisis and its effect on the music industry much more when the podcast gets to 1973, but in brief, the production of oil by the US peaked in 1970 and started to decrease, leading to them importing more and more oil from the Middle East. As a result of this, oil prices rose slowly between 1971 and 1973, then very quickly towards the end of 1973 as a result of the Arab-Israeli conflict that year. As vinyl is made of oil, suddenly producing records became much more expensive, and in this period a lot of labels decided not to release already-completed albums, until what they hoped would be a brief period of shortages passed. Both Denny and Thompson recorded albums at this point that got put to one side by Island. In the case of Thompson, it was the first album by Richard and Linda as a duo, I Want to See the Bright Lights Tonight: [Excerpt: Richard and Linda Thompson, “I Want to See the Bright Lights Tonight”] Today, I Want to See the Bright Lights Tonight is widely regarded as one of the greatest albums of all time, and as one of the two masterpieces that bookended Richard and Linda’s career as a duo and their marriage. But when they recorded the album, full of Richard’s dark songs, it was the opposite of commercial. Even a song that’s more or less a boy-girl song, like “Has He Got a Friend for Me?” has lyrics like “He wouldn’t notice me passing by/I could be in the gutter, or dangling down from a tree” [Excerpt: Richard and Linda Thompson, “Has He got a Friend For Me?”] While something like “The Calvary Cross” is oblique and haunted, and seems to cast a pall over the entire album: [Excerpt: Richard and Linda Thompson, “The Calvary Cross”] The album itself had been cheap to make — it had been recorded in only a week, with Thompson bringing in musicians he knew well and had worked with a lot previously to cut the tracks as-live in only a handful of takes — but Island didn’t think it was worth releasing. The record stayed on the shelf for nearly a year after recording, until Island got a new head of A&R, Richard Williams. Williams said of the album’s release “Muff Winwood had been doing A&R, but he was more interested in production… I had a conversation with Muff as soon as I got there, and he said there are a few hangovers, some outstanding problems. And one of them was Richard Thompson. He said there’s this album we gave him the money to make — which was I Want to See the Bright Lights Tonight — and nobody’s very interested in it. Henry the Human Fly had been a bit of a commercial disappointment, and although Island was altruistic and independent and known for only recording good stuff, success was important… Either a record had to do well or somebody had to believe in it a lot. And it seemed as if neither of those things were true at that point of Richard.” Williams, though, was hugely impressed when he listened to the album. He compared Richard Thompson’s guitar playing to John Coltrane’s sax, and called Thompson “the folk poet of the rainy streets”, but also said “Linda brightened it, made it more commercial. and I thought that “Bright Lights” itself seemed a really commercial song.” The rest of the management at Island got caught up in Williams’ enthusiasm, and even decided to release the title track as a single: [Excerpt: Richard and Linda Thompson, “I Want to See the Bright Lights Tonight”] Neither single nor album charted — indeed it would not be until 1991 that Richard Thompson would make a record that made the top forty in the UK — but the album got enough critical respect that Richard and Linda released two albums the year after. The first of these, Hokey Pokey, is a much more upbeat record than their previous one — Richard Thompson has called it “quite a music-hall influenced record” and cited the influence of George Formby and Harry Lauder. For once, the claim of music hall influence is audible in the music. Usually when a British musician is claimed to have a music ha

RuPaul's Drag Race All Stars Season 10 Eps 7+8 Recap Hello, hello, hello! Your RuPaul's Drag Race RHAPup hosts, Beth Dixon and Aman Adwin are back to recap RuPaul's Drag Race All Stars Season 10 episodes 7+8. Which Queen will reign supreme? Share all of your RuPaul's Drag Race thoughts with us on Twitter by tagging @RobHasAPodcast and using the hashtag #RHAP Our team of Drag Race experts will be back every week to RHAPup each episode of RuPaul's Drag Race All Stars Season 10! We would like to dedicate this episode to Jiggly Caliente, a RPDR queen who passed away a few weeks ago. Please also include the link for the Jiggly Caliente Memorial Fundraiser in the description of the video/podcast: https://www.gofundme.com/f/honoring-the-life-and-legacy-of-jiggly-caliente Strike a pose and head to Twitter for more Drag Race updates from our hosts:Aman Adwin @AmanAdwinBeth Dixon @AugustaWind11 Previously, in RuCap Herstory:RuPaul Drag Race Recap Archives LISTEN! Subscribe to the Rupaul's Drag Race podcast feed by visiting https://robhasawebsite.com/feed/rupaulWATCH! Watch and subscribe to the podcast on YouTubeSUPPORT! Become a RHAP Patron for bonus content, access to Facebook and Discord groups plus more great perks! Learn more about your ad choices. Visit megaphone.fm/adchoices

欢迎收听雪球出品的财经有深度，雪球，国内领先的集投资交流交易一体的综合财富管理平台，聪明的投资者都在这里。今天分享的内容叫关于这轮白酒行业周期的一些思考，来自SHLIMAZEL。一、当下的白酒行业发生了什么在文章的开头，我想引用芒格先生的一句话：“在资本市场中，每隔十年左右疯狂的人们就会把所有理性的人赶下台，这是疯狂的治理模式，我也无解。”我觉得这句话非常精确的描述了资本市场，以及我今天想要聊的细分行业，那就是食品饮料中的白酒。白酒行业最近发生了什么想必各位投资者都有所耳闻了，从股价承压再到销售经营出现下滑，一些公司财报的暴雷更是给白酒投资者的信心造成了一定程度上的打击。白酒行业在前几年可谓是资本市场上最备受关注的行业之一了，以中证白酒指数为例，该指数于2021年初涨至最高21663点，此时指数市盈率最高位71.45倍，市净率为17.86倍，这种估值不管怎么看都是属于比较昂贵的那种，并且也不是单一股票，而是整个行业的一个估值水平。中证白酒指数从2021年的高点到现在，下跌了近60%，市盈率下跌了75%，市净率下跌超70%，拉长时间看我们能发现，从2021年到现在，中证白酒指数以每股净利润和每股净资产为主基本面其实还是上涨的，只是市场给的估值水平大幅下跌，估值的跌幅要高于基本面的涨幅，所以最终导致股价的下跌。以长期的视角来看，这四五年的时间里，白酒的基本面肯定是上涨的，但是由于估值下杀，导致了股价的下跌，这是一种单杀；而近一年白酒行业的表现就是一种非常典型的“戴维斯双杀”了，近几年在白酒投资上亏了钱的人，他们犯的错不在所谓的“价值投资”上，用投资白酒亏钱了来证伪价值投资是错误的行径，从价值的角度看，每股净利润、净资产都是增长的，错就错在买的太贵而不自知。在投资中买的太贵往往结果都不会太好，要么稀释你的投资收益，要么就是放大你的投资亏损，基本上没啥好处。白酒的商业模式既然聊白酒行业，就先和各位简单介绍一下白酒的商业模式。国内白酒行业的商业模式，主要就是从白酒的生产企业到经销商再到终端销售这样一整个链条。从生产企业至一级经销商至二级经销商/区域代理至终端渠道最后到消费者。以高端白酒企业为例，大多都是以“产销分离”模式为主流，也就是白酒企业负责生产、品牌营销及管理、价格体系制定、渠道政策制定等；而经销商负责销售、回款、渠道铺货、库存管理。简单地说就是，白酒公司不做直销，而是把货批给经销商，再由经销商铺向市场。这就导致了白酒公司的收入和业绩有这样一个特点，白酒公司的收入，也就是我们从财报中所看到的数据，只跟他发货给经销商并确认收款有关。对于白酒公司来说，销售是否最终到了消费者手里不重要，只需要看发货给经销商的货量，这也会导致白酒行业出现“压货”冲业绩的行为。说完了生产商我们再来说一下销售渠道，销售渠道主要就是一级经销商和二级经销商，他们在销售经营上会使用库存策略，我们知道白酒是一种几乎没有保质期，容易囤积，便于炒作的商品。既然是商品他就会有价格波动，经销商就会根据对市场价格涨跌的预期来决定囤货与否。预期价格上涨，就会加大囤货量，稀卖，因为未来价格上涨的话他能赚的更多；预期价格下跌，就会减持自己的库存，加快甚至抛售出货，因为卖晚了他可能会亏更多的钱这种情况就会影响白酒企业对经销商的发货节奏、白酒产品的社会库存波动和价格波动，经销商的这种行为是不是有点像股票投资中的追涨杀跌，同样的也是人性。由于销售渠道存在库存这么一个属性，某些时候就会导致白酒公司出现业绩的大幅波动。为什么我们在去年底和今年初的时候会看到一些白酒企业的业绩出现大幅度的下滑，这里我们来简单说一下。白酒公司在将货物发给经销商确认收款之后，这部分的资金就可以计入营收和净利润了，白酒行业不能只看财报，里面的数据会有一定的滞后性和误导性。一般像基金公司、证券公司和机构投资者对于白酒行业的主要研究会往销售端和库存量方面倾斜。从去年下半年开始，由于消费的低迷，特别是一些白酒品牌，销售量上不去，库存还有大量的堆积，再加上价格下行的压力。之前进的货都卖不出去，更有可能还会亏钱，这个时候白酒公司是没有什么能力帮到经销商的，帮他们打广告搞营销是没有什么用的，他们能帮到经销商最好的方法，就是暂停供货，让他们消化库存。这个时候我们就会看到一些公司，明明去年年报和半年报的业绩还算可以，估值也比较低，但是股价却非常低迷。等到下半年和今年初财报陆陆续续更新以后，就开始暴雷了，营收和净利润都是大幅度的下滑，很大一部分原因就是因为暂停了供货。量价齐跌的白酒为什么我前面说了，近期白酒行业的表现处于一种“戴维斯双杀”的状态，我们先来看一些数据，根据国家统计局公布的居民消费价格数据，五月份的食品烟酒价格环比下跌0.2%，而CPI食品烟酒：酒类的价格指数则是在近几年一路下跌。酒类的CPI指数从2017年至2021年一直处于高位，在2021年之后则一路下跌，近期则处于加速下行状态。另外根据国家统计局和中国酒业协会提供的数据，白酒产量呈逐年下降趋势，并且从2024年下半年开始，每月均负增长，从整个行业来看，处于一种“量价齐跌”的状态，酒价下滑，产量萎缩，而资本市场里股价的走势则反应了这种现实和未来的预期。另外有意思的一点就是，为什么酒价在前几年能一直保持在高位，从时间上我们不难看出，正是对应了房地产市场加速泡沫化的时间节点，正所谓万物皆周期，这也是白酒行业所避免不了的。二、复盘白酒行业历史上的几轮周期白酒行业的历史较为悠久，在长期的发展过程中，也避免不了遇到一些危机，或者说经历行业周期。A股的资本市场成立不过三十多年，大部分白酒企业上市至今也不过二十余年，但就在这二十多年的时间里，白酒行业其实经历了好几次周期，可能大家对这一轮的行业周期充满着疑惑和些许恐惧，但就像那句话说的那样：“太阳底下没有新鲜事，投资的世界里也一样”。接下来不妨让我们复盘一下白酒行业之前经历的几轮周期，相信可以一定程度上帮助到各位。第一轮周期：1999年 — 2003年中国白酒行业在1999年至2003年间经历了一轮深刻的行业性低谷和结构性危机，这是历史上持续时间最久、结果最惨烈的一次危机，几乎所有白酒企业都出现了营收和净利润的大幅下滑。哪怕是贵州茅台，也出现了业绩的下滑，在贵州茅台2002年的年报中，虽然净利润为3.76亿人民币，较2001年同比上涨，但是每股收益EPS是下滑的，同比下滑13.84%，这点投资者需要注意。在这轮危机中，另外一些像我们熟知的白酒品牌业绩下滑的则更为惨重，如泸州老酒、汾酒、五粮液等，更有几家公司创下了历史上罕见的亏损纪录，比如安徽知名的白酒品牌，古井贡酒。古井贡在01年和02年的每股收益分别同比下滑了53.9%和31.03%，连续几年的业绩大幅下滑也是公司历史上非常罕见的。这轮行业危机发生的原因其实有挺多种的，宏观经济方面，在1997年亚洲金融危机后，中国经济面临外需萎缩的压力；1998年后长达多年的通缩周期开始了，PPI和CPI均为负值，居民的消费意愿开始下滑。行业方面，当时全国的白酒企业多达几千家，多数是地方的中小酒厂，市场集中度低，行业产能过剩，白酒的竞争主要以价格战为主，白酒公司利润率下滑，部分企业陷入亏损，行业在等待最后的出清。再后来，中国的经济开始逐渐复苏，2001年加入世贸组织，经济增速一路上涨，也为后来白酒行业的高速发展奠定了基础。 第二轮周期：2008年 — 2009年这一轮白酒周期就比较容易理解了，其实就是由于美国次贷危机引发的全球金融危机，导致全球金融市场遭遇重创，部分行业的经营也受到了影响。不过说实在的，对于白酒行业来说，只能算得上是一场小危机，大部分白酒企业在这次危机中都保持了正增长，只有少部分上市白酒企业出现下滑，比如古井贡酒的营收出现下滑，汾酒的净利润同比负增长等，而以茅五泸为代表的高端白酒企业则保持了高速增长。如果剔除这轮周期的话，在第一轮和等会要说的第三轮周期之间，可谓是中国白酒行业的“黄金十年”了。第三轮周期：2012年 — 2015年这一轮的白酒周期，是危机程度仅次于第一轮的一次行业周期，可能大多数人都听过甚至经历过这次行业危机，从时间间隔上来算，刚好和现在相差十年左右。这是一场由政策、信任危机、消费结构转变共同引发的行业危机。我们先来看一下资本市场，以贵州茅台为例，贵州茅台的股价从2012年7月开始出现不断下行，一直跌到2014年初股价见底，此时贵州茅台的市盈率跌破9倍，另一边像五粮液则跌破了6倍市盈率。后来我们都知道了，这是白酒股历史上的一次大底，不少投资者在这轮投资中收获颇丰，但这轮危机是怎么发生又是如何结束的，我们再来详细的说一下。从2011年下半年开始，以茅五泸为代表的高端白酒行业进入了快速扩张周期，白酒公司开始纷纷提价。再加上高端白酒投资属性的上升，囤飞天茅台、普五、国窖1573渐渐成为了一种民间共识，或者说是一种盲目跟风。鲍德里亚在他的书《消费社会》中就有聊到过这种现象，这类消费早已不再是为了满足基本的物质需求，而是转向了“符号的消费”，人们消费的是商品所代表的意义、身份和社会地位，而非商品本身的使用价值。白酒无非就是酒类中的一种，所谓的风味物质，其实就是乙酸乙酯等，商品本身的成本并没有多少。其实不光是高端白酒，像最近比较流行的新消费，如泡泡玛特、老铺黄金等，这类消费并非是最近才出来的，而是一直都存在，但是仍然有一堆人真金白金的去追捧。消费不是为了需要，而是为了区别，消费的动机不再是满足基本的物质需求，而是通过商品和符号来建立和彰显社会身份。在某些圈子里，消费变成了一种“社会语言”，比如潮玩盲盒，消费的行为变成了沟通社会意义的方式，人们通过消费某种商品来说明自己属于那个群体，和别人有什么区别。这种消费的方式迫使人们不断购买以维持其身份的符号商品，从而形成一种无休止的跟风循环，是不是有点熟悉？稍微有点扯开话题了，我们再拉回来。贵州茅台在2012年9月1日提价30%，股价在年中的几个月一直维持在高位，但是在2012年的下半年，行业爆发了信任危机，那就是“白酒塑化剂事件”。2012年11月19日，“酒鬼酒塑化剂超标”事件被曝光，有关媒体检测发现酒鬼酒中邻苯二甲酸酯含量超标260%，随后酒鬼酒股价出现暴跌，白酒行业的股价也开始集体下跌，市场对整个白酒行业的产品安全性产生质疑，消费者的信心也受到重创，部分高端白酒销量开始骤降，虽然各大白酒公司紧急回应，发布检测报告，但也很难平复信任危机。接下来，2012年12月4日，中央出台“八项规定”，明确提出压缩“三公经费”。随后在2013年1月17日，国办下发《关于厉行节约反对食品浪费的意见》，在其中高档白酒、高档菜品、高价烟草等被明确点名。随后高端政务用酒需求开始骤降，白酒的需求端开始下滑，最后导致茅台、五粮液、国窖1573价格出现系统性下跌，飞天从2012年2000元左右的价格跌至八九百元。由于政策问题导致的需求端下滑确实存在，但有一点被大多数人忽略了，那就是供给端。前面我们说到了很多白酒品牌进入了快速扩张周期，加之像茅台、五粮液等公司的经销商高利润的问题是白酒公司一直在关注的，所以在这几年，高端白酒公司开始连续涨价，飞天茅台的出厂价在2012年提到了819元一瓶，更离谱的像国窖1573更是提到了999元一瓶，比茅台都贵。2012年全行业的新增产能高达290万吨，所以这次危机是供给端和消费端骤变引起的。虽然贵州茅台的需求最后被证伪了，市场认为一旦三公消费消失，贵州茅台就不会有民间需求，但实际上由于经济发展和人均收入水平的上升，茅台的需求又被驱动了起来，之前的萎缩只是暂时性的。而对于整个行业来说，从2014开始，龙头公司们开始主动控货、减产和调价，高端品牌也推出了下沉产品。而之后就是白酒行业的大牛市了，一个由房地产泡沫推升导致的居民财富不断上涨，为白酒消费端带来强劲增量的大牛市。第四轮周期：2022年至今最近一次的周期，也就是现在了。通过与前三次行业危机的对比，我们会发现其惨烈程度压根就比不上第三轮，更别说第一轮了。这轮周期有第一轮中通缩的威胁，也有第三轮中房地产市场的影响，但目前来看，我认为只是白酒行业周期中的一次阶段性调整而已。到目前为止也没有一家公司出现亏损，头部白酒公司的业绩仍然是正增长的，只是增速有所下滑而已。但为什么这次市场对白酒行业的反应会这么大呢？首先就是在短视频泛滥、信息碎片化的时代，市场中的噪音会被无限放大。一个小小的利空就会吓到不少投资者，一些利好也会被放大，导致乐观的情绪无限蔓延，甚至最终产生泡沫。再其次就是，大部分投资者接触到白酒行业可能都是在前几年市场高位的时候，从基金抱团再到投资者的无脑买入，这几年能在白酒行业的投资上赚到钱的人是非常少的，大多数人的投资都是亏损的，长期的亏损再加上行业基本面受到打击，自然会产生各种悲观的情绪。但作为一名投资者我们应该知道，危机中通常会孕育出不错的投资机会，而价值投资者所要做的就是寻找危中之机。

Get ready to blast off into space with the awesome new album, *Astral Voyager*, from the band KAL-EL!This cool group started in Stavanger, Norway, back in 2012, and they've been rocking hard ever since. They mix together different styles like heavy metal, psychedelic sounds, and even some desert vibes, all while telling epic sci-fi stories.After going on five wild musical adventures with their albums and three EPs over the last ten years, they're back with something super special. *Astral Voyager Vol. 1* is all about a brave space bounty hunter named Mica. She's on a mission to catch the bad guys in the universe while trying to stay one step ahead of a powerful group called The Nine, who want to control everything. Mica's journey is all about hope, being yourself, and finding your way in a big, mysterious universe.This double album will be released in two parts in 2025, and it's the best work KAL-EL has ever done! With heavy beats, catchy tunes, and a cool retro sci-fi vibe, it's a fantastic mix of sounds that will take you on an unforgettable ride through the stars!Official Links:Bandcamp: https://kal-el.bandcamp.com/musicMetal Archives: https://www.metal-archives.com/bands/Kal-El/3540416246Passionate about metal? You'll want to tune in to Flamekeeper™, the show that's electrifying the airwaves. As the host, MRJ brings an unparalleled enthusiasm and deep knowledge of the genre, captivating listeners with every episode. With a penchant for spotlighting up-and-coming artists and hosting insightful interviews, MRJ has cemented Flamekeeper™'s reputation as a must-listen for metal aficionados. And the best part? By rating, reviewing, and sharing the show, you're not just supporting great content – you're also helping Flamekeeper™'s sponsors, ensuring the continued success of this heavy-hitting program.Links to our Sponsors & Partners:Ageless Art Tattoo & Piercing - Clarksville/New Albany:http://www.agelessartclarksville.comhttp://www.agelessartna.comPizza DoNisi/MAG BAR:https://pizzadonisi.com/http://magbaroldlouisville.comShadebeast:http://shadebeast.comand use PROMO CODE: "SITH LORD" at check out for a 10% Discount!Creeping Death Designs:http://www.creepingdeathdesigns.comand use PROMO CODE: "METALFORGE10" at check out for a 10% Discount!Record Labels:Unchained Tapes:http://www.unchainedtapes.bigcartel.comand use PROMO CODE: "METALFORGE10" at check out for a 10% Discount!Mercenary Press:http://www.mercenarypress.bigcartel.comand use PROMO CODE: "METALFORGE" at check out for a 10% Discount!Other shows you can listen to:Night Demon Heavy Metal Podcast:http://www.nightdemon.nethttps://open.spotify.com/show/2ozLCAGQ4LdqJwMmeBYJ7k?si=OvvfZsNYRPqywwb86SzrVAZines:Soulgrinder Zine:http://www.facebook.com/soulgrinder.zineOFFICAL LINKS OF THE METAL FORGE®/FLAMEKEEPERhttp://www.metalforgeradio.comhttps://www.flamekeeper.vip FB/IG/TW/TikTok/YouTube - @metalforgeradioFlamekeeper Podcast Network: http://www.youtube.com@flamekeeperpnThe Metal Forge®The Alehorn™Ossont & Battery™All Rights Reserved. Any unauthorized reproduction/duplication is expressly forbidden without prior written consent and is punishable by law. Metal Forge Intro I copyright 2020 The Metal Forge® Published by UNTIL I GET IT RIGHT MUSIC/ASCAP. Metal Forge Intro II copyright 2023 The Metal Forge® Published by UNTIL I GET IT RIGHT MUSIC/ASCAP. The Metal Forge®, please contact metalforgeradio@gmail.com for any and all other info. All other music is owned by writers/publishers respectively and is used with permission for means of promotion.©2019-2025 The Metal Forge®

Fluphenazine is a high-potency typical antipsychotic that primarily acts as a dopamine D2 receptor antagonist in the mesolimbic pathway, reducing positive symptoms of schizophrenia. Extrapyramidal symptoms (EPS), such as dystonia, akathisia, and parkinsonism, are common due to potent D2 blockade in the nigrostriatal pathway. Neuroleptic malignant syndrome (NMS), though rare, is a life-threatening adverse effect characterized by rigidity, hyperthermia, altered mental status, and autonomic instability. CYP2D6 inhibitors (e.g., fluoxetine, paroxetine) can increase fluphenazine plasma concentrations, potentially raising the risk of toxicity and side effects. Concomitant use of fluphenazine with CNS depressants (e.g., alcohol, benzodiazepines) can enhance sedation and respiratory depression.

The directing duo from "Don't Tell Larry" detail their eight-year journey to turn the phrase, "Don't Tell Larry", into a world, a web series, and feature starring Eg Begley., Jr., Dot-Marie Jones, Patty Guggenheim, and Kiel Kennedy. And they chat with Matt and Oren about how their background in unscripted TV prepared them but also left gaps when it came to making the movie they wanted to make, without EPs steering them off-track.From 300 pitches to turning down lucrative investors, the pandemic, and choosing to shoot in Dallas, the guys explore all the challenges of making an indie film, and adhering to high standards, all while influencers walk away with the fees that filmmakers traditionally could garner from commercial work. And other filmmakers like, Danny Gervitz's film "The Man in the Photo" https://www.youtube.com/watch?v=u6WpwmPe9Ks, "Skinamarink" https://www.youtube.com/watch?v=APQqilSTxz0 and forgoing distributors and theatrical releases, in favor of going straight to YouTube.Tell them your thoughts on Instagram @dtlthemovie @gregporper @jschimke---Get a great deal on Magic Mind! https://magicmind.com/shootitjune NEW LINK!!Matt's Endorsement: "No Hard Feelings" https://www.imdb.com/title/tt15671028/Oren's Endorsement: Eric Chien, the magician https://www.youtube.com/watch?v=XWO5-0OYMwcGreg's Endorsement: The book "Day Trading Attention: How to Actually Build Brand and Sales in the New Social Media World." by Gary Vaynerchuk https://garyvaynerchuk.com/attention/John's Endorsement: DaVinci Resolve updated their Edit page and it's wonderful. Particularly Source / Record. Hosted on Acast. See acast.com/privacy for more information.

Sermon we watched: https://www.youtube.com/watch?v=0MSztUqdlosCome to OUR FIRST EVER EXPERIENCE! https://brushfire.com/wholewomanco/utwwwco/603899__________________________________________________________________Give us feedback on your Wide Open experience so far here: https://docs.google.com/forms/d/e/1FAIpQLSfnasZey2g7HM7D9vvugUpTsYwPQBgYvx0Y7vLolCvjRmJHFg/viewform?pli=1__________________________________________________________________Members get Eps 2 Days early, vlogs, & exclusive STREAMS! Join today!https://www.youtube.com/channel/UCqzgGwRrOLH20OIc8bM_VAg/join__________________________________________________________________COME SEE TIM DO COMEDY - Get Tickets Here https://linktr.ee/timross(Tim's Lip Balm) - GlowSkin Care - https://www.facebook.com/AllNaturalOrganicProductsMadeWithLove/

Evercore ISI issued a new Street-high price target of $315 for IBM Corp. (IBM) on expectations of strong EPS outlook fueled by its A.I. and quantum computing prospects. Marley Kayden notes the company's prior earnings report as strong overall but warns against some concerns in current macroeconomic conditions. Despite that, Marley says its latest developments surrounding IBM put it "back in the conversation."======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

Come to OUR FIRST EVER EXPERIENCE! https://brushfire.com/wholewomanco/utwwwco/603899__________________________________________________________________Give us feedback on your Wide Open experience so far here: https://docs.google.com/forms/d/e/1FAIpQLSfnasZey2g7HM7D9vvugUpTsYwPQBgYvx0Y7vLolCvjRmJHFg/viewform?pli=1__________________________________________________________________Members get Eps 2 Days early, vlogs, & exclusive STREAMS! Join today!https://www.youtube.com/channel/UCqzgGwRrOLH20OIc8bM_VAg/joinCOME SEE TIM DO COMEDY - Get Tickets Here https://linktr.ee/timross(Tim's Lip Balm) - GlowSkin Care - https://www.facebook.com/AllNaturalOrganicProductsMadeWithLove/

Come to OUR FIRST EVER EXPERIENCE! https://brushfire.com/wholewomanco/utwwwco/603899__________________________________________________________________Give us feedback on your Wide Open experience so far here: https://docs.google.com/forms/d/e/1FAIpQLSfnasZey2g7HM7D9vvugUpTsYwPQBgYvx0Y7vLolCvjRmJHFg/viewform?pli=1__________________________________________________________________Members get Eps 2 Days early, vlogs, & exclusive STREAMS! Join today!https://www.youtube.com/channel/UCqzgGwRrOLH20OIc8bM_VAg/joinCOME SEE TIM DO COMEDY - Get Tickets Here https://linktr.ee/timross(Tim's Lip Balm) - GlowSkin Care - https://www.facebook.com/AllNaturalOrganicProductsMadeWithLove/

Explore powerful, often-overlooked retirement tactics—like the Rule of 55 and the 62/70 Social Security strategy—and hear listener questions answered by Wes and Christa to help you build an effective, income-focused financial future.

It's time to revisit Jon Foreman's seasons EPs, Again. Come join us on our last season (for now) and hear how the CJN Crew feels about Summer, the album and the season. Will we stay In The House Of God Forever or decide to do something else Instead Of A Show?This is a Jammers Only episode. If you listen on the main feed, you'll hear our Side A discussion, but the track-by-track breakdown is only available on Patreon. You can unlock this and other Jammers Only episodes for only $5/month on Patreon!If you like what you hear, please rate, review, subscribe, and follow!Connect with us here:Email: contact@churchjamsnow.comSite: https://www.churchjamsnow.com/IG: @churchjamsnowTwitter: @churchjamsnowFB: https://www.facebook.com/churchjamsnowpodcastPatreon: https://www.patreon.com/churchjamsnowpodcast

This Saturday, BENN - a Taipei-based producer, DJ and founder of Over My Body dance label - is taking over our Select series with a one-hour mix of his recent productions and current favourites, blending Asian influences with sharp broken beats. The set features tunes like ‘Shiny Surgery' by Cortical and ‘Veil of Dusk' by Yes Reven. BENN has been igniting dancefloors across several continents with his symbolic, explosive energy and avant-garde club productions. Over the past few years, BENN released several EPs and participated in many compilations from different labels worldwide, each showcasing an evolution of his technique, from synesthesia's tribal futurism to the organic natural pulses of Entheos.

Come to OUR FIRST EVER EXPERIENCE! https://brushfire.com/wholewomanco/utwwwco/603899__________________________________________________________________Give us feedback on your Wide Open experience so far here: https://docs.google.com/forms/d/e/1FAIpQLSfnasZey2g7HM7D9vvugUpTsYwPQBgYvx0Y7vLolCvjRmJHFg/viewform?pli=1__________________________________________________________________Members get Eps 2 Days early, vlogs, & exclusive STREAMS! Join today!https://www.youtube.com/channel/UCqzgGwRrOLH20OIc8bM_VAg/joinCOME SEE TIM DO COMEDY - Get Tickets Here https://linktr.ee/timross(Tim's Lip Balm) - GlowSkin Care - https://www.facebook.com/AllNaturalOrganicProductsMadeWithLove/

Yours Truly, Johnny Dollar || The Cronin Matter, Eps. 1-5 || Broadcast: December 5-9, 195502:05 - Ep. 1 || 17:13 - Ep. 2 || 31:46 - Ep. 3 || 46:21 - Ep. 4 || 1:00:55 - Ep. 5Featuring: Bob Bailey, Virginia Gregg, Shirley Mitchell, Vivi Janiss, Barbara Fuller, Betty Rubin, John Dehner, Parley Baer: : : : :My other podcast channels include: DRAMA X THEATER -- SCI FI x HORROR -- COMEDY x FUNNY HA HA -- VARIETY X ARMED FORCES -- THE COMPLETE ORSON WELLESEnjoying my podcast? You can subscribe to receive new post notices. Also, if you have a moment, please give a 4-5 star rating and/or write a 1-2 sentence positive review on your preferred service -- that would help me a lot.Thank you for your support.https://otr.duane.media | Instagram @duane.otr@duaneOldTimeRadio #duaneOldTimeRadio#mysteryclassics #oldtimeradio #otr #mysteryradio #radioclassics #rodserling #agathachristie #thewhistler #mystery #suspense #oldtimeradioclassics #classicradio #crimeclassics #duaneotr:::: :

The big things you need to know:First, consensus expectations for 2026 are inching up for S&P 500 EPS in a broad based way, a positive data point for the stock market but a slight one.Second, net bulls on the AAII survey have moved up sharply, and formally entered a less robust forward return environment last week.Third, the seasonal playbook reminds us that in recent years June and July have tended to be strong for the S&P 500 but that the transition into fall has been tricky with declines often seen in the August – October time frame.

This week we're unlocking episode one from our deep dive into the making of each of albums. On the first episode we take it all the way back to 2011 — the GENESIS of TNSW if you will. Our ex-drummer, Luke, joins us to kick things off with our first three EPs. We discuss how we started the band, where the nipple tape came from, our approach to songwriting and live performance, and the DIY-to-the-death nature our early recordings.Watch videos of the pods and get weekly bonus episodes on our Patreon — it's only 5 bucks a month, but it's still 5 bucks!:https://patreon.com/whatagreatpunkJoin us all in the TNSW Discord community chat:https://tnsw.co/discordWatch our Comedy Central mockumentary series and TNSW Tonight! on YouTube:https://youtube.com/thesenewsouthwhalesTNSW on Spotify:https://open.spotify.com/artist/0srVTNI2U8J7vytCTprEk4?si=e9ibyNpiT2SDegTnJV_6Qg&dl_branch=1TNSW: @thesenewsouthwhalessJamie: @mossylovesyouTodd: @mrtoddandrewshttps://patreon.com/whatagreatpunkhttps://thesenewsouthwhales.comShout-outs to the Honorary Punks of the Pod:Harry WalkomHugh FlassmanZac Arden BrimsClaireJimi KendallLachy TanDerrotonin69Adjoa SamMatt Sanders

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Morgan Stanley's midyear outlook defied the conventional view in a number of ways. Our analysts Serena Tang and Vishy Tirupattur push back on the pushback to their conclusions, explaining the thought process behind their research. Read more insights from Morgan Stanley.----- Transcript -----Serena Tang: Welcome to Thoughts on the Market. I'm Serena Tang, Morgan Stanley's Chief Cross-Asset StrategistVishy Tirupattur: And I'm Vishy Tirupattur, Morgan Stanley's Chief Fixed Income Strategist.Serena Tang: Today's topic, pushback to our outlook.It's Friday, June 6th at 10am in New York.Morgan Stanley Research published our mid-year outlook about two weeks ago, a collaborative effort across the department, bringing together our economist views with our strategist high conviction ideas. Right now, we're recommending investors to be overweight in U.S. equities, overweight in core fixed income like U.S. treasuries, like U.S. IG corporate credit. But some of our views are out of consensus.So, I want to talk to you, Vishy, about pushback that you've been getting and how we pushback on the pushback.Vishy Tirupattur: Right. So, the biggest pushback I've gotten is a bit of a dissonance between our economics narrative and our markets narrative. Our economics narrative, as you know, calls for a significant weakening of economic growth. From about – for the U.S. – 2.5 percent growth in 2024 goes into 1 percent in 2025 and in 2026. And Fed doesn't cut rates in 2025, and cuts seven times in 2026.And if you look at a somewhat uninspiring outlook for the U.S. economy from our economists – reconciling an uninspiring economic outlook on the U.S. economy with the constructive view we have on U.S. assets, equities, credit, treasuries – that's been a source of contention. So, reconciling an uninspiring outlook on the U.S. economy with a constructive view on risk assets, as well as risk-free assets in the U.S. economy – so, equities, credit, as well as government bonds – has been a somewhat contentious issue.So how do we reconcile this? So, my pushback to the pushback is the following; that they are different plot lines across different asset classes. So, our economists have slowing of the economy – but not an outright recession. Our economists don't have rate cuts in 2025 but have seven rate cuts in 2026.So, if you look at the total number of rate cuts that are being priced in by the markets today, roughly about two rate cuts in [20]25, and about between two and three rate cuts in 2026, we expect greater policy easing than what's currently priced in the markets. So that makes sense for our constructive view on interest rates, and in government bonds and in duration that makes sense.From a credit point of view, we enter this point with a much better credit fundamentals in leverage and coverage terms. We have the emergence of a total yield-based buyer base, which we think will be largely intact at our expectations, and you layer on top of that – the idea that growth slows but doesn't fall into recession is also constructive for higher quality credit. So that explains our credit view.From an equities view, the drawdowns that we experienced in April, our equity strategists think marks the worst outcomes from a policy point of view that we could have had. That has already happened. So looking forward, they look for EPS growth over the course of the next 12 months. They look for benefits of deregulation to kick in. So, along with that seven rate cuts, get them to be comfortable in being constructive about their views on equities. So all of that ties together.Serena Tang: And I think what you mentioned around macro not being the markets is important here. Because when we did some analysis on historical periods where you had low growth and low inflation, actually in that kind of a scenario equities did fine. And corporate credit did fine. But also, in an environment where you have rather unencouraging growth, that tends to map onto a slightly risk-off scenario. And historically that's also a kind of backdrop where you see the dollar strengthen.This time out, we have a very out of consensus view; not that the dollar will weaken, that seems quite consensus. But the degree of magnitude of dollar weakening. Where have you been getting the most pushback on our expectations for the dollar to depreciate by around 9 percent from here?Vishy Tirupattur: So, the dollar weakness in itself is not out of consensus, largely driven by narrowing of free differentials; growth differentials. I think some of the difference between the extent of weakness that we are projecting comes from the assessment on the policy and certainty. So, the policy uncertainty adds a greater degree of risk premia for taking on U.S. assets.So, in our forecast, we take into account not only the differentials in rates and growth, but also in the policy uncertainty and the risk premia that the investors would demand in the face of that kind of policy uncertainty. And that really explains why we are probably more negative on the outcome for U.S. dollar than perhaps our competition.Serena Tang: The risk premium part, I think bring us to one of the biggest debates we've been having with investors over, not just the last few weeks, but over the last few months. And that is on U.S. exceptionalism. Now clearly, we have a view that U.S. assets can outperform over the next six to 12 months, but why aren't we factoring in higher risk premium for holding any kind of U.S. assets? Why should U.S. assets still do well?Vishy Tirupattur: So, as I said earlier, we are calling for the economy to slow without tipping into recession. We are also calling for greater amount of policy easing than what is currently priced in the markets. Both those factors are constructive.So, I think we also should keep in mind the sheer size of the U.S. markets. The U.S. government bond markets, for example, are 10 times the size of comparably rated European bond markets, government bond markets put together. The U.S. equity markets is four-five times the size of the European equity markets. Same thing for investment grade corporate credit bonds. The market is many, many times larger.So, the sheer size of the U.S. assets makes it very difficult for a globally diversified portfolio to substantially under-allocate to U.S. assets. So, what we are suggesting, therefore, is that allocate to U.S. assets, where there are all these opportunities we described. But if you are not a U.S. investor, hedge the currency risk. Not hedging currency risk had worked in the past, but we are now saying hedge your currency risk.Serena Tang: And the market size and liquidity point is interesting. I think after the outlook was published, we had a lot of questions on this. And I think it's underappreciated, how about, sort of, 60 percent of liquid, high quality fixed income paper is actually denominated in U.S. dollars. So, at the end of the day, or at least over the next six to 12 months, it does seem like there is no alternative.Now Vishy, we've talked a lot about where we are getting pushback. I think that one part of the outlook where – very little discussed because very highly consensus – is credit. And the consensus is credit is boring. So how do you see corporate credit, and maybe securitized credit, fit into the wider allocation views on fixed income?Vishy Tirupattur: Boring is good for a fixed income investor perspective, Serena. Our expectation of rate cuts, slowing growth but not going tipping into recession, and our idea that these spreads are really not going very far from where they are now, gets us to a total return of about over 10 percent for investment related corporate credit.And that actually is a pretty good outcome for credit investors. For fixed income investors in general that calls for continued allocations to high quality credit, in corporate credit as well as in securitized credit.Serena Tang: So just to sum up, Morgan Stanley Research has very differentiated view this time around on how many times the Fed can cut, which is a lot more than what markets are pricing in at the moment, how much yields can fall, and also how much weakening in the U.S. dollar that we can get. We are recommending investors to be overweight U.S. equities and overweight U.S. core fixed income like U.S. treasuries and like U.S. IG corporate credits. And as much as we're not arguing [that] U.S. exceptionalism can continue on forever, over the next six to 12 months, we are constructive on U.S. assets.That is not to say policy uncertainty won't still create bouts of volatility over the next 12 months. But it does mean that during those scenarios, you want to sell U.S. dollars rather than U.S. assets.Vishy, thank you so much for taking the time to talk.Vishy Tirupattur: Great speaking with you, Serena.Serena Tang: And for those tuned in, thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

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Pete Francis founding member of Dispatch returns to Zig At The Gig. Tickets for June 13th. Pete Francis Tickets for June 13th Winchester Lakewood OH   Long Legged Fly C-Level and Pete Francis Pre- Save Link https://distrokid.com/hyperfollow/clevel/long-legged-fly-feat-pete-francis Pete Francis Heimbold grew up in Riverside, Connecticut, taking early influence from the reggae music of Bob Marley along with classic songwriters like Van Morrison and Joni Mitchell. While attending Middlebury College in Vermont, he connected with fellow musicians Chad Urmston and Brad Corrigan. The trio formed Dispatch, a rangy roots-inspired indie band who became a fixture of the East Coast club, festival, and jam circuits. Between 1996 and their 2002 hiatus, Dispatch released four studio albums and a live record, building a sizable audience through heavy touring and grassroots promotion. Francis stepped out in 2001 to make his solo debut with So They Say, an album that bore some resemblance to his work in Dispatch and contained several songs they had played live together. When the group officially announced their hiatus, he kicked into gear, issuing a prolific string of albums through his Dragon Crest imprint. In addition to solo releases like 2003's Untold and 2008's Iron Sea and the Cavalry, he also teamed up with Craig Dreyer for the 2006 joint album Everything is One. Meanwhile, Dispatch continued to gain new followers despite their hiatus and in 2007, they reunited for a charity concert at New York's Madison Square Garden. After a surprise sellout, two more dates were added, both of which also sold out. Francis then teamed up with fellow New Englanders Barefoot Truth for a 2009 EP, then issued his fifth solo album, The Movie We Are In, in 2010.  In 2011, Dispatch officially reformed and resumed touring and recording. Although the band occupied much of his focus, Francis continued to record on his own, releasing 2013's Immodal Implozego and a 2015 compilation, Dragon Crest Collective, Vol. 1. In 2019, after three more studio albums with Dispatch, Francis left his longtime group and resumed his solo career in earnest. For a few years he focused on singles and EPs like Humble Down and Sun Fuzz, both of which were released in 2021. He also built his own home studio and began self-producing his music. With its vibrant electronic sounds and drum loops, 2023's PTRN SKY! marked a tonal shift for Francis and was his first home-recorded album. The following April he explored his reggae influences on the sunny EP Neon Light Blind.

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Derek Moore explains how what sometimes seems obvious isn't what happens as we can see with inflation numbers that continue to move lower despite consumer sentiment surveys expecting 6.6% inflation in the next year. Plus, NVDA had its earnings and the stock' forward PE is lower due to the next 12-month analyst estimates being near all-time highs. Plus, sell in May would have been a mistake as markets recovered and are now back to within several percent of all-time highs.    PCE Inflation vs CPI Inflation NVDA forward PE ratio and earnings EPS estimates Calendar Spreads vs Diagonal spreads explained Inflation continues to be lower  University of Michigan consumer sentiment survey says 1-year inflation 6.6% Atlanta FED GDP Now EconPi        Mentioned in this Episode   Derek Moore's book Broken Pie Chart https://amzn.to/3S8ADNT   Jay Pestrichelli's book Buy and Hedge https://amzn.to/3jQYgMt   Derek's book on public speaking Effortless Public Speaking https://amzn.to/3hL1Mag   Contact Derek derek.moore@zegainvestments.com     

On today's episode, I talk to Constance Keane, Jamie Hyland and Sean Nolan of the band Dublin and London-based band M(h)aol. Formed in 2014, the band released a few EPs and singles in their early days, but it wasn't until 2023 that they released their first, full-length album Attachment Styles. A mere two years later, they've put out their second album Something Soft on Merge Records, and it's a delight! This is the website for Beginnings, subscribe on Apple Podcasts, follow me on Twitter. Check out my free philosophy Substack where I write essays every couple months here and my old casiopop band's lost album here! And the comedy podcast I do with my wife Naomi Couples Therapy can be found here! Theme song by the fantastic Savoir Adore! Second theme by the brilliant Mike Pace! Closing theme by the delightful Gregory Brothers! Podcast art by the inimitable Beano Gee!  

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Global trade tensions have eased after a steadying in U.S. policy shifts, leading our CIO and Chief U.S. Equity Strategist Mike Wilson to make a more bullish case for the second half of 2025.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Mike Wilson, Morgan Stanley's CIO and Chief U.S. Equity Strategist. Today on the podcast, I will discuss recent developments on tariffs and interest rates, and how it affects our 12 month view for U.S. Equities.It's Friday, May 23rd at 9am in New York.So, let's get after it.The reduction in the headline tariff rate on China from 145 percent to 30 percent extended the rally in stocks last week and should help to support both corporate and consumer confidence. More importantly, the 90-day détente came at a critical juncture, in my view, as a few more weeks of what was essentially a trade embargo would have likely led to a recession.Equity market volatility also subsided considerably amid the decline in trade policy uncertainty. In fact, both measures peaked well before the deal with China came together and are now back below where they were pre-Liberation Day. To me, this means trade headwinds have likely peaked in rate of change terms and are unlikely to return to such levels again. This would fit with the capitulatory price action we saw in early April with the average stock in the S&P 500 experiencing a 30 percent drawdown. In short, while the lagging hard data is likely to come in softer over the next coming months, the equity market already priced it in April. In the event of a recession that still arrives, we think the April lows will still hold, assuming it's a mild one with manageable risk to credit and funding markets.As further support for stocks, earnings revisions breadth appears to have bottomed. This indicator has leading properties in terms of the direction of earnings forecasts and is an important gauge of corporate confidence, in our view. The combination of upside momentum in revision breadth and last week's deal with China has placed the S&P 500 firmly back in our original pre-Liberation Day first half range of 5500-6100. Having said that, we think continued upward progress in earnings revisions breadth into positive territory will be necessary to break through 6100 in the near term, given the stickiness of 10-year Treasury yields.Amidst these developments, we released our mid -year outlook earlier this week and updated our base, bear and bull case targets for the S&P 500. In short, we effectively pushed out the timing of our original 6500 price target for the end of this year to 12 months from today. This is mainly due to a less dovish Fed and therefore higher 10-year Treasury yields than our economists and rates strategists expected at the end of last year. We also trimmed our EPS forecasts modestly to adjust for higher than expected tariff rates, at least for now.Looking ahead, we are more bullish today than we were at the end of last year given the growth negative policy announcements are now behind us and the Fed's next move is likely to be multiple cuts. In short, the rate of change on earnings revisions breadth, interest rates and policy changes from the administration are all now pointing in a positive direction, the opposite of six months ago and why I was not bullish on the first half of this year.The near-term risk for U.S. equities remains very overbought conditions and interest rates. With the Fed on hold due to lingering inflation concerns and Moody's downgrade of U.S. Treasury debt last Friday, 10-year Treasury yields are back above 4.5 percent; the level where the correlation between equities and rates tends to move back into negative territory. Ultimately, we think the Treasury and Fed have tools they can and will use to manage this risk. However, in the short term, this is a potential catalyst for the S&P 500 to take a break and even lead to a 5 percent correction. We would look to add equity risk into such a correction should it materialize given our bullish 6-12-month view.Thanks for tuning in. I hope you found it informative and useful. Let us know what you think by leaving us a review; and if you find Thoughts on the Market worthwhile, tell a friend or colleague to try it out!

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