This song is definitely about capitalism and mankind's constant struggle for power at any cost. "He simply turns away instead of bearing down" I think is a reference to industrialization effects on the environment, and the ignorance of executives and businessmen, followed by "his ship is crumbling" is the fact that the world is being destroyed due to irresponsible practices, but "he doesn't care as long as he can wear the crown". Gaining success at all costs, no matter what.

When Greg says "they live their lives under a blanket of shame... and their progeny crawl from underneath it" I think is a metaphor for ignorance, meaning that any destructive actions in the present are portrayed as acceptable to children, as the way it is done, the children are born out of this same ignorance and accept it. However (hopefully) when they grow old enough to understand and realize that the "ship is crumbling", they crawl out from under the blanket and accept responsibility for the damage (in a way i guess).

"But I'm so fallibly human...." etc is kind of a 'disclaimer' as the lyrics could be interpreted as somewhat hypocritical, in the 1st person sense of the song, meaning that 'I'm' as in 'you' and 'them'.

This song is about how our society is failing. We see that bad things are happening to Americans (like our neighbors and friends; hence seeing out poor friends, but they are us, so it's my poor friend me), but then we as a whole are Americans, so it's happening to us. We as people know what the problem is, but we're afraid to try and do anything about it because, even though we see a dismal future, we accept it and choose not to change it ("lately I've come to see the solution/ and it begins with me/ but I'm so fallibly human/ I've picked the lock but will not turn the key").