What does Jeremiah 51:34 mean?

Nebuchadnezzar, the king of Babylon, has chewed us up and spit us out. He’s swallowed us like a monster, filled his belly with our best, and then thrown us away. Jeremiah 51:34 - Modern Text Bible

(The people speak of how Babylon’s king has devoured and exploited them, taking everything valuable and discarding them like trash.)