"'My people have committed two sins: They have forsaken me, the spring of living water, and have dug their own cisterns, broken cisterns that cannot hold water.'" NIV translation
Not only did God's people reject Him but they actually replaced Him with things that they created themselves. That is not only misplaced trust but it is a very bad trade because a spring does not end and does not need maintenance to keep the water flowing. A cistern requires work to keep it to where it can hold water. We, too, can either choose the "spring of living water" or we can try to do things on our own.
"'Is Israel a servant, a slave by birth? Why then has he become plunder?'" NIV translation
God is basically asking His people to look at what they have become (slaves) and to compare that to what they were (the chosen people of God).
The first step in coming to repentance is realizing where you are (separated from God) and how you got there (sin).
"'Lions have roared; they have growled at him. They have laid waste his land; his towns are burned and deserted. Also, the men of Memphis and Tahpanhes have shaved the crown of your head. Have you not brought this on yourselves by forsaking the Lord your God when he led you in the way?'" NIV translation
God points out the ultimate shame that Israel faces as their enemy has even shaved the crown of their heads. Their land is now empty and it is all because they turned their backs on the Lord.
"'Now why go to Egypt to drink water from the Shihor? And why go to Assyria to drink water from the River?'" NIV translation
God continues by asking His people why they would turn to other countries to provide for their needs. For us, water is not such a big deal because we can buy it everywhere in plastic bottles but it is still vital to support life. Therefore, God is sorta asking them how it makes sense to turn from the One that created life and all things and trust in someone else to provide for their basic needs. The Creator of all things can provide all that we need and, in fact, through Jesus has given us everything as an inheritance. We should be careful to remember that all things come from Him and give Him the praise.