Verse 2

जगज्जीर्णारघट्टेऽस्मिन्वहति स्वव्यवस्थया ।विप्रेतभूतघटया रज्वा जीविततृष्णया

In plain words

this world turns in this worn-out water-wheel by its own ordering, with a rope whose pots are beings that have passed away — the rope that is the thirst for life.