Remember that this album was released in 1984, and had as its them the fear of nuclear destruction (the phrase "Grace Under Pressure" is Hemingway).
This song addresses the wastefulness of the Cold War. The "Reeling by on celluloid" reference is stating that people sometimes seek refugee in entertainment and mindless activities instead of facing their fears and responsibilities.
Remember that this album was released in 1984, and had as its them the fear of nuclear destruction (the phrase "Grace Under Pressure" is Hemingway).
This song addresses the wastefulness of the Cold War. The "Reeling by on celluloid" reference is stating that people sometimes seek refugee in entertainment and mindless activities instead of facing their fears and responsibilities.