And my only focus is staying on some bogus shit
Arguing with my older bitch, acting like I owe her shit

from Kanye West (Ft. Bon Iver, Jay Z, Nicki Minaj & Rick Ross) – Monster Lyrics on Rap Genius

Meaning

Yeezy is lamenting that he must take time away from his music to deal with bullshit and drama. He’s upset he has to humor his ex from back in the day, who now feels entitled to some of his success.

Or maybe (but probably not) Kanye is referring to the state of his emceeing, meaning that the bogus shit is actually what his raps have become. As an extended metaphor, then, Kanye is arguing with the pre-Graduation emcee in his head (older bitch).

The woman on the cover of My Beautiful Dark Twisted Fantasy is not only of remarkable hideousness; in fact, she’s the true monster keeping the real Kanye down. This woman is trying to leach the life out of the real Kanye West, but still he rejects her with a firm attitude (acting like I owe her shit).

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