Lyric discussion by chxo 

Cover art for 1 John 4:16 lyrics by Mountain Goats, The

I don't know if anyone has already written a comment saying so, but I think another interpretation could be that the narrator of the song is turning crazy, or out of control, so he has built himself a cage where he locks himself away so as not to harm the "you" he goes on about.

"And I feel like someone's lost child as the guards lead me outside" this is like the vulnerability he could be feeling as the demons sort of take over his body and his real state of mind is overshadowed by the crazy part.

And all he has is this one memory left and he's holding onto it so hard.

Well that's all I got!