Lyric discussion by SonOfBelgrade 

Cover art for Hold On to Yourself lyrics by Nick Cave and the Bad Seeds

It is about his true love who took advantage on it... but as we all know karma is a bitch.

I think it has more to do with a man on the road while his wife is at home. The entire album borrows heavily from themes in the Odyssey. Odysseus's is lost at sea and is trying to get home but on the way he is derailed by things like Nymphs and goddesses who hold him hostage as a kind of love slave. The entire time he just wants to get back home to his wife. So in that respect Appers66 is almost right. The hold on to yourself lyrics are supposed to be framed by the scenes of factories...