Lyric discussion by EveryMoment 

Cover art for Bea's song lyrics by Cowboy Junkies, The

This song is about depression, real, drowning depression.

Yes, I've always heard this song as a tale of hidden depression... hidden from John, who knows about her plight and is vigilant, but the deeply depressed can hide it so deep that even the vigilant can't see it.

It's possible that after the events described in this song, Bea kills herself, leaving John grief-stricken and wondering why he didn't see it coming. He might never make peace with this.