This is the shit you dream about with the homies steaming out
Back-to-back, backing them Beemers out

from Jay Z – American Dreamin' Lyrics on Rap Genius

Meaning

A grandiose lifestyle is what Jay dreamed about while he and his friends were smoking weed

Back to back is referring to how the blunts were sparked and passed around. It also refers to how his team’s “Beemers” (BMW cars) rolled in his dreams.

From Jay Z’s autobiography:

This is really where it begins, in a room with your feet up with your dudes. Too young to shave, dreaming about the body body Benzes you’re gonna push. Obviously for me, it’s in Marcy, but this could be anywhere — a basement in the midwest, a backyard in Cali, an Oldsmobile somewhere down South. The danger is that it’s just talk; then again, the danger is that it’s not. I believe you can speak things into existence.

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