Lyric discussion by OneEye 

Lord have mercy, this is one of the reason I don't like the Decemberists new fan-base, some of you understand the song, and props to you guys, but you pseudo-hipsters, are digging irony out of places where it doesn't exist. This song is purely a love song about Los Angeles. If there is one thing you have to catch from Decemberists songs, it's their love for the noire. They appreciate the down-trodden, seemingly evil refuge for the lower-ends of society. Colin is singing about the beautiful disaster the city is, how he sees the most amazing and awe-inspiring decay of the norms of society, yet the root of the society(human interaction) is stronger then any other city in the world. He's saying that Los Angeles doesn't have any of the superficial norms society thinks it has, and instead, has things that mainstream society sees as repulsive, like drugs, hookers, pollution, huge class-divide, etc. Yet, the people are happy to live in their filth, and appreciate all the real things the society has to offer, that other cities, which maybe look for beautiful, and do not have these "social no-nos" ever will. I think Colin wrote this song, and if he did, he is talking about how much he loves Los Angeles, how it brings him to his knees, and how much beauty, most don't realize this wretched society actually has, to those who keep their eyes open.

"how i ABHOR this place... leaves me wretched, RETCHING on all fours"

Definition of abhor (in case you didnt know)

expressing feelings of repugnance loathing

it never mentions anyone being happy, excluding the line "los angeles, my love" which is sarcastic. Its not a love song, or even a love/hate song. He's seen los angeles and is repulsed, hense the retching, but surrenders, gives in to the inevitable defeat. "los angeles, im yours."

I think this song is about loving and hating somewhere at the same time. I pointed out Moz but another person notorious for loving somewhere and hating it at the same time was Baudelaire about 19th Century Paris. I'd not be surprised if this song was a conscious reference to Baudelaire.

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