Lyric discussion by wdfarmer 

Cover art for Cage & Aquarium lyrics by They Might Be Giants

No, you're on the right track. Also, note that a cage and an aquarium are both transparent. You have no privacy, and the people who have imprisoned you can see everything you're doing, and can know everything about you ("somebody's reading your mind"). Scary. And there's nothing you can do about it... you're already trapped. As your life is destroyed ("goes down in flames"), you might just as well yawn.