Many of us worship false gods: money, prestige, stature, etc. When we keep worldly pursuits foremost in our lives, we make ourselves miserable (multiply their sorrows). These things offer temporary fixes, but in the end they drain us of life (offerings of blood) and cannot satisfy our souls.
When we choose the inner path (the Lord is my chosen portion and my cup) and we willingly surrender to Divine will, we find ourselves satisfied with the way that our life has turned out because we have all that we want, need, and some things we never dreamed of (the boundary lines have fallen for me in pleasant places). We can claim our abundant Divine inheritance (goodly heritage).
As we embrace the guidance of the Lord, even when things are unclear or befuddled (night) the power and presence of the Christ within (heart) leads us in the right direction. With God at the core of our every thought and feeling (keeping the Lord before me), we cannot be swayed or confused.
When we allow our lives to be led by Spirit, we can be certain that we too can reap the fruits of our Divine inheritance (fullness of joy, pleasures). We are secure in heart, soul, and body because we have been shown the spiritual journey rather than being left to the death of the worldly concerns. God's path is the path to eternal life.
And so it is! Amen