Lyric discussion by shadowsilence 

I think the song is telling you that no matter how you feel or what you think, you can't control your heart when it comes to love and such. I believe that whoever Bowie is in the character of in this song likes Ramona alot, but thinks that nothing will come of it because of his past experiences with women, mainly someone called Miranda (the heart's filthy lesson, which is falling upon deaf ears). He is asking Paddy for help as he believs that by liking Ramona, he is losing his way.

However, in the end he accepts that he loves Ramona, even though he will end up getting hurt. Thus, "What a fantastic death abyss". He hopes getting hurt by Ramona will finally teach his heart the filthy lesson.

I thought of all this as soon as I heard/saw the lyrics, although the line "something in our skies" has completly lost me.

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