Lyric discussion by martin1055 

Most telling part of otherwise self explanatory song was last exchange between Terry and Peter:

(T)Thank you for the talk, you know you really eased my mind I was troubled by the shapes of things to come

(P)Well, if you had my outlook your feelings would be numb You'd always think that everything was fine

Terry is being sarcastic here. Peter is sort of confessing he's shutting out the horror of the world

An error occured.