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Originally Posted by terminal pharmacy
nick drake, woody guthrie, dylan of course....
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I'll echo those plus:
Old John Fahey (I love later John Fahey even more overall, but he seriously left folk behind)
Fairport Convention
Palace Brothers/Will Oldham/Bonnie "Prince" Billie
Current 93 (not all of their stuff is folk rock, but the folky stuff is really good)
Tyranosaurus Rex (T Rex before he went electric)
Jim Page (out of Seattle, seriously indie, at times a bit heavily Dylan derivative vocally, but his lyrical style is all his own)
Broken English by Marriane Faithful
Roger Manning (true folk punk)
Jandek
Cabinet of Natural Curiosities (avant psych folk)
Billy Bragg
Phil Ochs
Leonard Cohen
Donovan
Shirley Collins
In Gowan Ring
Waldteufel (bit of a metal crossover on them)
My list is certainly one that would make any sort of purist cringe...