Lyric discussion by Mkf 

Cover art for Where Do We Go Now but Nowhere? lyrics by Nick Cave and the Bad Seeds

I Think its about an abortion his lover had. She felt pushed into it by the narrator. Hence her anger and need to punish him (from kitten to bear, razorblade etc.) He regrets the decision too and dream of what could have been(son's hand in his etc)... Something was destroyed that Day and he wishes he could do it over. Cause where to go from there but nowhere..