I think he's talking about dreaming

i just think it's an early example of the uber-obtuse lyrics that made them what they are in the eyes of most folks.

If we are only waiting here to die.
At least let me put my arms around you.

what a great line

I think he is sleeping alone and is dreaming of himself being a tree as a direct simile to his own life. The line about "everything is falling apart, yes I am" is about his life and the tree itself continually losing leaves in the fall. His life as he knows it is approaching the winter, when trees die; i.e. the end of his relationship. So as he sleeps alone and knows that his significant other isn't around he is hoping that he could at least be held and loved and treated like another human being before things fall apart and they finally break up. Wearing the bowtie to bed is like preparing for a date that he knows he'll be stood up on, he's holding onto hope and wishing that he won't be sleeping alone again. Even though he knows they aren't really in love (anymore) he wants to still "sing about love" because even though death (breakup) is imminent things don't have to be terrible. There's plenty of time for pain and sadness once it's over, but he is hoping that on the way down they can still try and find some comfort at least before everything crashes.

I love this song and the guitar on the chorus line is amazing and I wish this song was 20 minutes long.

this is very easily my favorite of montreal song.

its excellent.

I really like SamanthaSecretAgent's analysis, although I don't know if I totally agree on the tree simile.

Can anyone help me understand the line, "Watching me watch birds watch people"??

Oh, I so agree with Samantha's interpretation. I am going through what this song talking about, minus the gorgeous young man parts. For me, it's a girl. Shit, love sucks. Holding onto the threads of a relationship that tearing apart is painful.