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Fall Out Boy – Don't You Know Who I Think I Am? Lyrics 19 years ago
Right ok so i'm new so if i repeat or get this wrong i'm sorry.
so when they say:
"They say quitters never win
We walk(ed?) the plank on a sinking ship"
surely they are saying they say quitters never win but if we don't walk the plank and quit then we will die because this ship is sinking.

so its a metaphor saying they should quit because it's going to end up bad anyway.

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