Lyric discussion by thriggle 

Cat Power's cover of this song is too pretty to be about taking advantage of someone.

It's more about love/friendship/acceptance. Similar, perhaps, to William Carlos Williams' "This Is Just To Say." The things that are said point to something unspoken. The song suggests a relationship without jealousy (hence the walking naked down the street), and with allowances for fun (fireworks and amplifiers). It is not terribly serious, and that it why it's so beautiful.

As for the "I will pay you before I die," it sounds to me like a poetic "I owe you one," but I imagine it really signifies the giving nature of the relationship. No one's keeping track or score, or calling in favors.

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