The great Dao (or way) is very level and easy; but people love the
Their court(-yards and buildings) shall be well kept, but their fields shall be ill-cultivated, and their granaries very empty.
They shall wear elegant and ornamented robes, carry a sharp sword at their girdle, pamper themselves in eating and drinking, and have a superabundance of property and wealth;--such (princes) may be called robbers and boasters.
This is contrary to the Dao surely!
The Taoism Interpretation:
Unlike some chapters that cover several topics, this passage can be seen to be making a single observation.
At the end of the first stanza the author asserts that the most dangerous part of "becoming known" is the urge to display in a vain manner.
The second, third and fourth stanza observe the behavior of "known" people.
The final stanza observes that such displays are out of keep with already established principles of Tao.
It is interesting to note the parallel between the behavior of the "princes" and the modern habit of borrowing excessively. Perhaps this can be seen as similar to those princes who dress gaudily but leave their granaries empty.