It seems like in the first two verses the narrator is depressed about the end of a relationship/or even life in general. They're adding up their problems and then saying they no longer see their reflection in the mirror. Tying ribbon to the bone could be them tying a weight to them so they'll sink in the water.
In the third verse the narrator seems to change to someone else, and they're talking to the person who drowned in the river.
Great song, I'll take a stab at what it means.
It seems like in the first two verses the narrator is depressed about the end of a relationship/or even life in general. They're adding up their problems and then saying they no longer see their reflection in the mirror. Tying ribbon to the bone could be them tying a weight to them so they'll sink in the water.
In the third verse the narrator seems to change to someone else, and they're talking to the person who drowned in the river.
That's just my rough interpretation.