Lyric discussion by john785 

I think the first part of this song refers to growing up, maturing, and knowing how to discern between things that often fool us when we're young. When we're young we sometimes misconstrue the most straightforward signs in our lives. Someone smiles at us and we think its a veil. A beautiful blue sky doesn't seemingly have an obvious connection to pain; but these are the connections we sometimes mistakingly make mentally. Growing out of this mindset is a sign of maturation or growth.

As for the second part of this song... it's like looking up to or at a person who is now in a different position. Trading "hot ashes for trees" and "hot air for a cool breeze" can be interpreted again as maturing, getting more in sync with the world as opposed to your own selfishness. Trading "cold comfort for change" is letting go of that which we are comfortable with/in (but nonetheless hurts us) in exchange for something new. This is the best part: "Did you exchange a walk on part in the war, for a lead role in a cage"

  • to me this alludes to giving up your collective identity for "a lead role in a cage" or, attaining a high/different/unique/individualized/differentiated position (but possibly living in it in solitude).

Literally, "how I wish you were here" would mean the narrator wants that other person to be where the narrator now is. But given my interpretation of the first two verses, I'd like to (and am inclined to) think "how I wish you were here" is merely pointing out that the narrator would both him and the other person to be in the same place (probably not physically). Moreover, to be as accurate as I can get, that line can be taken as simply being a feeling of 'longing to be...' "two lost souls swimming in a fish bowl, year after year, running over the same old ground... same old fears..." --just makes it known the similarity and connection between these two souls... how they're invariably tied together, thus, making it understood that "wishing you were here" isn't too far-fetched since they're already connected in some ways.

I think the cover art, a man on fire shaking hands with a man that's not on fire perfectly symbolizes this song.

I get the feeling that I'm overanalyzing -but I wouldn't have been able to make this interpretation had I not happened to think about something thats going on in my life while listening to it.

I am in love with this song and I have to say. This is one of the most insightful, clairvoyant and incredible interpretations that I have came across. I never even thought of it that way but it makes perfect sense. Thank you

It's an interesting interpretation and of course if that's the meaning it has for you then no one can argue with that. But it is well established that the song was actually written about Syd Barrett's decline due to mental illness and drug abuse, as has been described in other comments.

@john785 I think you have it backwards, it's more about being able to see past illusions (seeing that a smile may sometimes be a "veil" hiding something else), not about accepting comforting surface appearances. In the second verse, the narrator feels that as the subject has changed his values, he has lost something of himself in the process. The implication is that it is better to be playing a minor part in real life, than to give up your freedom for a meaningless "lead role" in a limited world.

An error occured.