Lyric discussion by Dreetje 

Cover art for Piledriver Waltz lyrics by Arctic Monkeys

I think it's about a break up. He sees it coming, but the way you say it to someone can be hard. It doesn't matter how you say it, the other will always be angry or sad.

"You look like you've been for breakfast At the Heartbreak Hotel And sat in the back booth By the pamphlets and the literature On how to lose Your waitress was miserable And so was your food If you're gonna try and walk on water Make sure you wear your comfortable shoes'

He was up all night and didn't sleep well so that explains the face. He thinks very hard about what he is going to say. But the harder he thinks the more he realize he is a loser. He comes to the realization that it is impossible to bring this news well so, if you want to do something impossible, better get comfortably dressed.