Psalm 1/Paraphrase

(When someone's position in life is admirable and desirable, that person is declared "blessed".) (Wicked people are sometimes declared "blessed,") (since their position in life can seem admirable and desirable). (But I do not bless the wicked). (Instead, I say,) Blessed is the man who does not act by the counsel of wicked people, does not take part in the conduct of sinful people, and does not continue in the behavior of insolent people.

(Instead of receiving instruction for life's journey from wicked people), his delight is in the instruction of YHWH, and (because he delights in his instruction,) he rehearses his instruction day and night. (And this instruction teaches him how to live).

And (Just as water causes a tree to flourish,) (so rehearsal of YHWH's instruction causes the man to flourish). (Therefore, by rehearsing YHWH's instruction,) he will become like a tree transplanted (by a gardener) on streams of water (in a garden) which gives its fruit in its season, and its leaf does not wither, and he makes successful all that he does.

Not so the wicked people. (The wicked are not successful.) Rather, they are like chaff that the wind drives away. (Chaff is the outer part of grain that must be separated from the grain in the process of winnowing). (Just a chaff grows together with the grain in a field,) (so the wicked currently live together with the righteous.) (But the day is coming when God will hold trial and separate the wicked from the righteous,) (just as chaff is separated from grain at the harvest.)

Therefore (because the wicked are like chaff that is separated from the grain), wicked people will not stand firm in the trial, and sinful people will not stand in the congregation of righteous people.

(Here, then, is the reason why I pronounce the righteous, and not the wicked, to be "blessed.") Because YHWH cares for the way of righteous people, and (although it can seem as though wicked people are the ones flourishing) the way of wicked people will come to an end.