This song was originally written by a guy called Peter Gutteridge. He was one of the founders of the "Dunedin Sound" a musical scene in the south of New Zealand in the early 80s. From there it was covered by "The Clean" one of the early bands of that scene (he had originally been a member of in it's early days, writing a couple of their best early songs). The Dunedin sound, and the Clean became popular on american college radio in the mid to late 80s. I guess Yo La Tengo heard that version.
Great version of a great song,
Ah!
You only got one finger left
And it's pointing at the door
And you're taking for granted
What the Lord's laid on the floor
So I'm picking up the pieces
And I'm putting them up for sale
Throw your meal ticket out the window
Put your skeletons in jail
'Cause Lord only knows it's getting late
Your senses are gone so don't you hesitate
To give yourself a call let your bottom dollars fall
Throwing your two bit cares down the drain
Invite me to the seven seas like some seasick man
You will do whatever you please and I'll do whatever I can
Titanic, fare thee well, my eyes are turning pink
Don't call us when the new age gets old enough to drink
'Cause Lord only knows it's getting late
Your senses are gone so don't you hesitate
To move on up the hill well there's nothing dead left to kill
Throwing your two bit cares down the drain
Odelay, odelay, odelay, odealy odelay, odelay
Just passing through
Odelay, odelay, odelay, odealy
Going back to Houston
Do the hot dog dance
Going back to Houston
To get me some pants
You only got one finger left
And it's pointing at the door
And you're taking for granted
What the Lord's laid on the floor
So I'm picking up the pieces
And I'm putting them up for sale
Throw your meal ticket out the window
Put your skeletons in jail
'Cause Lord only knows it's getting late
Your senses are gone so don't you hesitate
To give yourself a call let your bottom dollars fall
Throwing your two bit cares down the drain
Invite me to the seven seas like some seasick man
You will do whatever you please and I'll do whatever I can
Titanic, fare thee well, my eyes are turning pink
Don't call us when the new age gets old enough to drink
'Cause Lord only knows it's getting late
Your senses are gone so don't you hesitate
To move on up the hill well there's nothing dead left to kill
Throwing your two bit cares down the drain
Odelay, odelay, odelay, odealy odelay, odelay
Just passing through
Odelay, odelay, odelay, odealy
Going back to Houston
Do the hot dog dance
Going back to Houston
To get me some pants
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It's a song about ending a relationship.
The first verse is him kicking her out. "You've only got one finger left, and it's pointing at the door" means that he has counted down, and he now wants her out.
he's had enough of her crap. he's "picked up the pieces" in the past, but is letting her go. he has been supporting her as her "meal ticket", but not anymore. he is now holding her accountable for her terrible actions, "putting [her] skeletons in jail."
"'Cause Lord only knows it's getting late Your senses are gone so don't you hesitate To give yourself a call, let your bottom dollars fall Throwing your two bit cares down the drain"
This verse is his suggestions of what she does now. Lord only know's it's too late to make up. She's shocked, so she should dig deep, call in her last favors if she wants him back. She should not dwell on petty stuff, because this is more serious than her "two bit cares."
"Invite me to the seven seas like some seasick man You'll do whatever you please and I'll do whatever I can Titantic, fare thee well, my eyes are turning pink Don't call us when the new age gets old enough to drink"
The third verse is her attempt to get back together. She invited him to a bar or a restaurant, "the Seven Seas." She makes an ass of herself, he gets tired and leaves. Their relationship is doomed like the titanic, and he is tired of it, making his eyes bloodshot or "pink". She says they have entered a "new age." things are different. He doesn't care, he isn't going to wait for her to mature to the point when things are "old enough to drink"
"Going back to Houston Do the hotdog dance Going back to Houston To get me some PANTS..... "
The coda is about him moving back to where he came from. He is going to be in a better relationship. One where HE wears the pants.