Lyric discussion by LambtonQ 

Its about a young woman who hes hasn't seen for years and she obviously came from some kind of money (her father- ) and shes been trapped in a small town (A dump like this) and has made some mistakes. Sounds like shes got a bit of a past. And it seems shes hanging around waiting on a man who treats who badly, yet she stays with him. And Bob Dylan is urging her in the song that shes better than that and the town shes stayed in.

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