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In the first four lines, the Joker is lamenting the fact that life goes by unappreciated, and that unimportant things are given more value than they deserve. In the second four lines, the Thief mentions that some people observe what the Joker is commenting on, and falsely conclude that life is a joke. These people are doomed to suffer the same fate as the elite, whose fortunes are tied up with the society they've built. This fate (downfall) is foreshadowed in the Thief's 3rd and 4th lines. He's also implying that they (the Thief and Joker) have moved past that state of despair, and in doing so have liberated themselves from the fate of their society.
"The princes kept the view" refers to those who take their superficial society seriously trying to protect it. "While all the women came and went, barefoot servants, too." refers to those who feel that life is a joke-they're not concerned with society's downfall, although it will negatively impact them.
The last two lines simply show the approaching doom. I don't think the riders are the Joker and Thief, they merely personify the elements that are destined to destroy this society. The joker and thief are absent from the last four lines, symbolizing their lack of involvement in the upcoming battle.
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And you believe Bush and the liberals and divorced parents and gays and blacks and the Christian right and fossil fuels and Xbox are all to blame, meanwhile you yourselves create an ad where your kid hits you in the head with a baseball and you don't understand the message that the problem is you.
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