What does it mean "Alufeinu Messubalim"? How to understand it?

ב"ה Shalom The words you quote are from Tehillim 144:14. In order to give a proper translation we must understand the context of the Pasuk. Rashi explains the previous verse describing a state of economic well being while this verse he explains in the context of social and spiritual well being. Rashi interprets "alufenu" as our masters and teachers. And "mesubalim" he explains as "tolerated".; So the meaning is " Our masters are tolerated(= they are listened to). It therefore follows that there is no breaching = "peretz" and no "bad tidings" = "yotzet" in our streets. All the best Shabbat Shalom and Chag Same'ach.