Lyric discussion by spero76 

And you're not a waste in relation to anything, you're just a waste. And of no use to anyone. Maybe the culmination of the song is being able to admit that, that you were wrong and have become a waste, despite all the posturing and pretense of your past self. But as far as the new you, living in the past and "sleeping the clock around"? Staying in bed all day, total disassociation, or a death metaphor? Valium makes sense.
Not really good "walking music", though

I totally agree

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