I find this to be a great but very atypical U2 song (perhaps why it was released as a b-side to only one single). The subject of this song appears to be a man struggling with his addiction to lust. Most of the lyrics could possibly be reconciled under another interpretation, but the line Having the best time of anybody's life/ Closer than ever to everybody's wife is hard to read any other way. That line and many others seem to refer to masterbation and the guilt it brings (Shame, shame).
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excite.com (20:th of September 2000)