Lyric discussion by kushxnl 

My take on Rain King is that he has found out that his exlover has been carrying a fatal illness all along. And how he finds himself on her deathbed, reminiscing of how wrong everything turned out. Much like Spacemanbob previously said, when it comes to "...she's been crying...I've been thinking I am the Rain King." he realises how insensitive he has been, and regrets doing all the thing he did that made him loose her.

In the next chorus when he sings "She's been lying, I've been sinking" I think it's him thinking of how she has been keeping him from knowing all along to save him grief. And how he was struggling to accept how they broke up. I believe this theory is strengened by the third chorus. She has been dying while he was out trying to drown his sorrows by drinking.

If you re-read the second verse with this in mind, it seems as he is struggling to accept their breakup. No quotes needed, he appears lonely and depressed. He wants to get back together with her but she don't want him to find out she is dying so she refuses to let him in.

Any references to Saul Bellows book and the Morrigan(as emilieheidel pointed out) is probably there to give further depth to his emotions, his depression.

Parts concerning Morrigan could be he would do anything to make her okay away (Render up my body into the burning heart of God in the belly of a black-winged bird) but this is only a rough thought, something I've thought of while typing down my impressions of the song..

An error occured.