Lyric discussion by plastic-man 

it's just simply another one of his unrequited love songs, surely you Smith fans are seeing the pattern here. His song topics were mostly 'drugs' 'girls' and 'suicide.' This is one of those 'girl' ones.

"all these records look like big zeroes" pathetic fallacy, to describe his mood, he's down, he feels like a zero, a loser "The biggest loser on 16th Street" this is the effect unrequited love has on most people. "A placeholder until you take up mine" A placeholder, someone who holds a place, he's holding this place for this girl whose picture is on "the back of a 45." He wants her to "take up" his.

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