One Commentator concludes that this is the song that ends “and they lived happily ever after.” In this Psalm, all is sunlight and success, from Abraham through Jacob in the nomadic infancy of the nation, to Egypt and Joseph; through multiplying numbers under Moses and Aaron to the plagues that made Egypt glad when they left. The journey to Canaan is swiftly recounted, with everything easy, satisfactory, miraculous. In the lands of the nations they fell heirs to what others had toiled for, and all ended happily.
The interesting thing about this is that this Psalm was written while Israel was in Exile in Babylon! It was a song of encouragement to remind the outcast Israelites that everything, even this, will have a happy ending! God has never gone back on His promises and He will not go back on them now. Even though they brought the calamity on themselves, God will still restore them to the Land of promise and give them a happy ending. Thus, the psalmist calls those in exile to turn to God for help,and to obey his life instructions.
The psalm ends with the people still in Exile, but ready to obey the Lord’s precepts. God, of course, kept His promise and restored His people to their land.
We can sing the song with the Israelites because, He’ll do the same for us!