Lyric discussion by pave12 

Cover art for More News from Nowhere lyrics by Nick Cave and the Bad Seeds

yes, it references Odysseia, but what does it MEAN.

to me that's only one part of the song anyway. There might a lot of references to a lot of works, I don't know, and maybe what he's trying to say is that everything he will do in life will be lost eventually, unlike Odysseia (and others?). "To think that everything you do today / Tomorrow is obsolete" is the most important line here.