The song represents the kind of panic felt when life becomes overwhelming and you fail to cope. "I'm not answering the phone -- let it ring. lately I've been feeling like a falling bomb"-this line is a perfect example of trying to shut out the world and then failing to live. Really, it's about the far of losing everything. The "falling bomb" is symbolic of destruction, and he {the writer} feels he is losing (or on the very verge of losing) everything.