Yes.
At least at the first level, this song is about two bowery bums, homeless persons, tramps, rover, whatever you call them, named Scarecrow and Railking.
It is fucking cold winter and both are freezing - standing there and trying to keep warm is described by Mark as doing the Florida freight (right?) They are at christmas in a A) shelter for the homeless or B) in a little diner store where they enjoy their meal that they get ( ripeye on the grill, coffee refill, toothpicks and luckys)... then they are happy and feel a certain warmth (from the booze also), one of them starts to dream while sleeping that he flies over the town and looks into a family house where there is a warm and nice christmas party.. later on, on of them (the sleeping one? I am doing this without reading the lyrics but only from my mind) gets clubbed and beaten up (by robbers? Or policemen?) - and sinks like a stone, like a boxer.. so much for the ragpicker's dream. A ragpicker is someone who picks rags so to say, and it is funny that MK often uses this term for his songwriting, that a songwriter is nothing but a ragpicker in a way and has all these ideas in his scrapyard.
For me, it is also important that this is the title track. All the persons on the album have no home or feel homesick or are travelling, forced or unforced.
Check it, it is true. Even Quality Shoe is about walking! The only song that offers the "perfect world" and a warm and love filled family idyll is the title track (even the "Place where we used to live" is empty and cold now) , where the homelessness as the concept, the idea of the album is manifested in these two guys, two tramps... Very touching. Although the idea of the bottle of "ragpicker" is something complicated (but river of grog could deliver some solution here, drinking= bottle = song). The title itself is speaking: The dream of the homeless is ... home. So the Ragpicker's Dream is Home. As shown on a nice warm cover picture where a young man is dancing with his beautiful young woman in their little kitchen. Perfect match.
There is something complicated about the perspective in this song. "I think they went thataways" is difficult for me to correlate. Is it the waitress who says this to the policemen which later use the billyclub and gather two castaways in the white flash light beam? Or is it the omniscient narrator that tries to save the two poor chaps and sends them into another direction on purpose?
-Who and what exactly is meant by "song and dance team"?
-Who uses the nightstick and the billyclub?
- Is the line "there's a ten for your trouble, you have beautiful hair" a dream of old days, a remembrance from earlier days and loves because of the alcohol? Is he mixing up the person working at the shelter with some love from his better days? Especially "make the last one two doubles" sounds like a pub order, not like getting something for free because of charity at christmas...
-Have they stolen the bottle of ragpicker and are therefore followed by the policemen?
-Me and my associate like the ambience here - what is the meaning behind that? Is it a hint for that these men have been from higher standards in earlier days of their lives? Or does it just show some warmth and humour and not more?
Thanks foma for bringing this up, I forgot about all the questions I had about this songs for years. It is a great song, one of his greatest! Looking forward to your cover version, with your River of Grog in mind, I expect only masterpieces from you!
LE