Lyric discussion by briandashhansen 

Cover art for Junk lyrics by Beatles, The

I always thought of it as a general message against consumerism, but now, 40 years after first hearing it, I notice that so many of the things that are junk are about the two of them. They became junk because of the split of "you and me". The breakup has made all those loved things into junk, because the loved one is no longer there to share them and give them meaning. The singer wonders why he should care about anything at all.

Since it mentions "old and new", it suggests "borrowed and blue", and that the breakup is literally a divorce.

A beautiful, haunting song and melody.

note: I posted these comments under a different username in the section for Paul Mccartney's version.