"self indulgent twaddle" is a verrrry subjective statement! I mean all artists are indulging themselves, that's the point - otherwise they may as well just work in an office, clock in and clock off. Dylan has written many a word salad. I think Lou is quite economical as a lyricist so not much chaff.
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and Dylan has written some utter bilge - I find Lou not so much meandering, as much as arcane . Concept albums about 18th century germanic song cycles, strike me as pretentious for its own sake. (Though by no means representative of his work as a whole)