There's too many out there to give up hope.
Two of my favorite lyricists working today are Will Oldham (a.k.a Bonnie 'Prince' Billy, a.k.a Palace) Check out his albums I See a Darkness, Master and Everyone, Lie Down in the Light, The Letting Go, and/or Joya.
The other is Jason Molina (a.k.a. Songs:Ohia, a.k.a Magnolia Electric Company) Check out his Songs:Ohia albums Didn't it Rain and Magnolia Electric Company These are two of the most nail-your-head-to-the-back-wall (lyrically) albums I've heard put out int he last 10 years.
Others that come to mind if you like rock informed by folk are
Bill Callahan (a.k.a Smog)--Sad and happy at the same time; An introspective wise-ass.
Jim O'Rourke--Too smart for his own good, and bitter in a fun way.
Conor Oberst (a.k.a. Bright Eyes)--- Straight-forward, good-old-fashioned, leave-nothing-to-the-imagination story telling often with a point. Emmylou Harris thought enough of him to join his for much of his 2005 album "I'm Wide Awake, It's Morning"
Devendra Banhart - freakfolk if you go for that kind of thing.