I'm almost positive that the line 'he's got a backwater nothing' is actually 'he's got a fat wad of nothing.' That would make more sense since the rest of the song seems to be about being down on your luck and losing money, and a fat wad of nothing means he doesn't have any money left.
I'm almost positive that the line 'he's got a backwater nothing' is actually 'he's got a fat wad of nothing.' That would make more sense since the rest of the song seems to be about being down on your luck and losing money, and a fat wad of nothing means he doesn't have any money left.