The lyrics are: machine, i dream, or if you turn it around: dreammachine. And that won't tell you much unless you know what you are looking for. Keep in mind that not all lines of the song are about Bono's mother. Bono said at the presentation of the album: The clues are in the names. Iris is a name, so it might contain clues. Iris might refer to the Royal Iris (a ship) or to Irish.
Also looking up the Ramones might help.
Don't fear the world it isn't there. I read this in a biblical contest like what Saint Paul said in 1 Cor 7:31 For the present form of this world is passing away.
We don't have to fear what is passing away.