Lyric discussion by mevkurray 

My interpretation, wrong, right or otherwise is:

the first "half" of the song, up till the epic interlude / "And laughing in the summer showers that's still the way I see you now", deals with the late teens-20's period, during which one realises that childhood and adolescence is far from ever lasting, and begins to mature. you begin to make more serious friends and also hopefully relationships too, which help you to grow even more. obviously, not everyone goes thru this at these ages, some die before they ever do. these people are who the second part of the song is spoken to

the second part of the song is once the person in question has matured. it expresses the thoughts of "where did the last 10 years go", and the frustration with your peers and possibly family who are yet to have matured. they are still sitting aroung, drinking and smoking as though they were immature teens. this i guess could also relate to society in general.

i guess this is a similar explaination to many already listed here, albeit from another perspective.

seeing the whole first disc live in Melbourne was incredible, both musically and emotionally.

k

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