Nas is saying it is hard to have money in this world because poverty is a real issue

Bob Marley has a song called “Stir it Up"
http://www.youtube.com/watch?v=n6U-TGahwvs

A spliff is a cigarette that has cannabis as well as tobacco inside of it

On March 3, 1991 Rodney King was brutality beaten by cops. The incident was taped from a distance. The footage showed 7 cops surrounding King. Other officers watched as it happened without taking action and stopping them. This incident caused tension between the black community and the LAPD. Around the time of the incident rappers started making voice-overs sounding like a redneck talking about Rodney King and using the incident as a threat against other black people.

A wise guy is someone in the mafia

In this sense, the “wise guys” are from the ghetto

He is talking about the ring having 4 carat diamonds

The NARCs (Narcotics Officer) search his house as soon as he wakes up

a “fifth” is a fifth of a gallon.

Hopsin says he starts off wack but gets better throughout the song

His is saying you flow/lyrics on your album is horrible