Lyric discussion by teamkantner 

If anything, this song is about committing suicide or its about taking a hit of a drug (ryan adams did speedballs). I think the suicide hypothesis makes sense though. Especially the paragraph about

I got a letter in my pocket and a pain in my tooth And there's money in the bank up the street I got a jacket that would fit you And a couple of old guitars that I'd like for you to keep

If you run into my sister tell her "Elvis is cool but the Rolling Stones will sweep her away" And money's always worth it on a Monday night Cause on Friday she should get it for free

it makes sense because the first paragraph he is talking about giving his shit away, like his guitars and his jacket which is typically pretty common with those who plan to commit suicide. The paragraph about his sister is phrased in a way that if somebody were to run into her, they could use that little piece of personal information. Anyways, thats my take on it

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