Lyric discussion by chineselaundry 

Cover art for Magic Chords lyrics by Sharon Van Etten

This song really came to life for me when I saw it performed live. Now it is a favorite for me off of this great album. I haven't attempted to break down the progression, but I'd guess that the title references a I, V, VI, IV structure to the song itself.

Interesting piece on magic chords here - http://www.easyeartraining.com/2011/01/26/four-chords-and-the-truth/