Lyric discussion by Jan the Man 

Although most interested in Alfred E's meaning...i believe it's more of a swing, a man lost within himself, sort of in the classic situation of an angel and devil on his shoulder. The devil telling him to committ sucicide, and the angel telling him to carry on and keep on following your so far unsuccessful life.

"Carry on my wayward son, They'll be peace when you are done. Lay your weary head to rest, Don't you cry no more."

This is the devil talking about dying and ending all the pain and confusion he has.

"Once I rose above the noise and confusion, Just to get a glimpse beyond this illussion. I was soring ever higher, But I flew too high."

He finds himself looking at his life from the outside, and meets the angel and devil, and cannot decide who to listen to.

"Though my eyes could see I still was a blind man. Though my mind could think I still was a mad man. I hear the voices when I'm dreaming, I can hear them say..."

He sees the images of the angel and devil in his sleep, he's trapped in his mind, and is unable to choose who to listen to...

"Carry on my wayward son, They'll be peace when you are done. Lay your weary head to rest, Don't you cry no more."

This is the devil telling him, if he dies, it will all be over, just like that, he can be at peace with himself, and not worry about anything anymore.

"Masquerading as a man with a reason, My charade is the event of the season And if I claim to be a wise man, well It surely means that I don't know"

referring to the devil with his motive to get the man to committ sucicide. When he talks about being a wise man, he explains he doesn't know the devil's intentions...

"On a stormy sea of moving emotion Tossed about I'm like a ship on the ocean I set a course for winds of fortune But I hear the voices say..."

he's once again trapped in his mind and emotions, swaying back and forth between good and evil. he sets out go on, but keeps hearing the devil say...

"Carry on my wayward son, They'll be peace when you are done. Lay your weary head to rest, Don't you cry no more. No!"

once again telling him dying will end everything, the angel disagreeing with a no!

"Carry on, you will always remember Carry on, nothing equals the splendor Now your life's no longer empty Surely heaven waits for you."

the devil giving the empty promise that all will be good and he will go to heaven.

"Carry on my wayward son, They'll be peace when you are done. Lay your weary head to rest, Don't you cry, Don't you cry no more."

Ends up with the devil reminding once more how to end all the pain and suffering

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