I hadn’t heard this song in a long time, and my ears perked up when it was playing in a TV commercial the other night. I don’t remember much about Kermit but I dig what he is contemplating 
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Indeed! It was pointed out to me a while ago that this song is about hypnagogia, at least in part:
Have you been half asleep
And have you heard voices?
I’ve heard them calling my name
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Yes! That stanza really stood out to me too, totally hypnogogic
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