Its meaning, since it is ambivalent, defies an easy interpretation. The musical structure of the chorus could give ecidence to the latter assumption.
We messed around with the song. You're a liar! They think that life could never get. His tone is more sardonic, the vocal more reliable. Dylan's song Like a Rolling Stone, recorded incertainly belongs to his most important pieces of work.
The first stanza tells the listener or reader not to "throw the bums a dime" because it is easy to loan too many peoples money and never be repaid, leaving the possibility of losing everything.
He suggests that the song is probably self-referential: "The song only attains full poignancy when one realises it is sung, at least in part, to the singer himself: he's the one 'with no direction home. When the song was finally released, it changed lives.
So, OK, I really fell apart.