It does sound to me like this is about a friend who has a drug problem, but I also think that he is the one who got his friend started on it, or vice versa. "My hopes just fell...and I can't see...the reason why...why there is blood on my sleeve...and all this time, I thought it mine, but it's not it's yours" And although this guy is doing drugs, he must be making some money or living the high life. "This life you lead, like swimming in a shiny ballroom." But obviously, this guy's been stealing from his friend, after he tried to help him with his problem. "This label 'thief' find a better title suited for you". Also, "this title wave, is coming down upon you" this easy life this guy's been living, is about to go down the drain "this life you leave like SWIMMING in a shiny ballroom" and he's about to send this guy packing "just pack your shit and leave with it".
It does sound to me like this is about a friend who has a drug problem, but I also think that he is the one who got his friend started on it, or vice versa. "My hopes just fell...and I can't see...the reason why...why there is blood on my sleeve...and all this time, I thought it mine, but it's not it's yours" And although this guy is doing drugs, he must be making some money or living the high life. "This life you lead, like swimming in a shiny ballroom." But obviously, this guy's been stealing from his friend, after he tried to help him with his problem. "This label 'thief' find a better title suited for you". Also, "this title wave, is coming down upon you" this easy life this guy's been living, is about to go down the drain "this life you leave like SWIMMING in a shiny ballroom" and he's about to send this guy packing "just pack your shit and leave with it".