Quoth Adam Lopresto <adl4@cec.wustl.edu>:

I think the song Spy is about a guy whose girlfriend recently broke up with him (or possibly he with her). Everywhere he looks (be it at the ground, on a at a submarine, evne when he closes his eyes) he keeps thinking he sees her. He doesn't like this state of affairs ("I wish I could break the Spyglass / set it free"), but taht's how it is.