Explain Kent's speech at the end of act 2 scene two

At the end of Scene two, Oswald claims that he has spared Kent because of his grey beard at which Kent scoffs. He describes that Oswald is like a dog, ignorantly following a master. To Cornwall's incredulousness, Kent says that he does not like the look of his face. Oswald explains that Kent had no reason to strike him in Lear's company or to draw on him at Gloucester's. Kent refers to Cornwall and Regan as cowards and they call for the stocks. Regan comments that they should leave him not only until noon, as Cornwall had suggested, but for over a day. Gloucester protests but is overruled. After the others have exited, Gloucester apologizes to Kent and admits that the Duke is to blame. Alone, Kent muses over a letter he has received from Cordelia, implying that she knows he has taken disguise and promises to try to save her father from the evil of her sisters. Kent recognizes he is at the bottom of luck. He falls asleep.