1 The Spirit of the Sovereign LORD is on me,
      because the LORD has anointed me
      to preach good news to the poor.
      He has sent me to bind up the brokenhearted,
      to proclaim freedom for the captives
      and release from darkness for the prisoners,
 2 to proclaim the year of the LORD’s favor (Christ’s birth?)
      and the day of vengeance of our God, (Christ’s reign?)
      to comfort all who mourn,
The following message is to liberate the poor, brokenhearted, captives, and prisoners, by speaking of Christ’s birth and His subsequent reign. (I beleive this to be a double-prophecy, where Isaiah was speaking of events to come soon as well as events to come much much later)
 3 and provide for those who grieve in Zion—
      to bestow on them a crown of beauty
      instead of ashes,
      the oil of gladness
      instead of mourning,
      and a garment of praise
      instead of a spirit of despair.
      They will be called oaks of righteousness,
      a planting of the LORD
      for the display of his splendor.
God will basically be taking from the lowliest of society and planting oaks of righteousness (i.e., their offspring). Oaks take a long time to grow, and it is many years before they are fully adult. He is planting them now… the fruit will be seen much later. By implication, they will be ready in the year of the LORD’s favor… when Christ is born… and will endure in some manner through His day of vengeance.
 4 They will rebuild the ancient ruins
      and restore the places long devastated;
      they will renew the ruined cities
      that have been devastated for generations.
This happened before, and then Christ gave it new meaning, speaking of His body and resurrection. It will happen again physically for when Christ establishes His kingdom.
 5 Aliens will shepherd your flocks;
      foreigners will work your fields and vineyards.
Palestinians at peace with Israel? This was actually true in the 50’s and 60’s.
 6 And you will be called priests of the LORD,
      you will be named ministers of our God.
      You will feed on the wealth of nations,
      and in their riches you will boast.
Not true today. Fulfilled once in the past… perhaps again in the future.
 7 Instead of their shame
      my people will receive a double portion,
      and instead of disgrace
      they will rejoice in their inheritance;
      and so they will inherit a double portion in their land,
      and everlasting joy will be theirs.
Still to be.
 8 “For I, the LORD, love justice;
      I hate robbery and iniquity.
      In my faithfulness I will reward them
      and make an everlasting covenant with them.
This would be covenant that even they will not break, as they have in years past. That covenenant is the one that God made through Jesus, but opened up to the world. However, this could also be yet one final covenant that is yet to revealed, when Christ comes as the kingly messiah for which the Jews have been waiting.
 9 Their descendants will be known among the nations
      and their offspring among the peoples.
      All who see them will acknowledge
      that they are a people the LORD has blessed.”
The following blessing is available to us all today…
 10 I delight greatly in the LORD;
      my soul rejoices in my God.
      For he has clothed me with garments of salvation
      and arrayed me in a robe of righteousness,
      as a bridegroom adorns his head like a priest,
      and as a bride adorns herself with her jewels. 11 For as the soil makes the sprout come up
      and a garden causes seeds to grow,
      so the Sovereign LORD will make righteousness and praise
      spring up before all nations.