Lyric discussion by bokononist 

I always figured that Marcus was a repressed memory given a name. He's in the subconscious, or "basement." The repression comes from a traumatic incident(molestation is obviously implied) and by giving it a name, the speaker is trying to transfer it away from himself so as to feel that it is no longer a part of him.

It doesn't work though. He has a "broke track" because he is incomplete due to this repression. The last part is thus about reconciling with "Marcus" and dealing with the trauma.

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