A cautionary tale of enduring relevance

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Written 25 years ago on the eve of the Reagan administration, and frighteningly topical today.
Completed in 20 minutes during a class on the Economics of Canada, the song wrote itself and then I had to take a nap.

DESARAE AND HER SISTER FAY
WERE LIVING EASILY OFF THE LAND
THE USUAL ILLS, THE LACK OF CHEAP THRILLS,
I HOPE THIS ALL ISN'T PLANNED
SOMETHING MUST GO IN THIS CARNIVAL SHOW
THE BEARDED LADY NO LONGER ATTRACTS
THE CUSTOMERS WITH THEIR GLASS EYEBALLS
WHO PAY GOOD MONEY FOR CHEAPER ACTS

OH SISTER DON'T DESPAIR
IT'S NOT TIME TO PANIC
I BOUGHT US ALL A REAL GOOD TIME
WE GOT DECK SEATS ON THE TITANIC

FATHER AND MOTHER WITH A STRING OF PEARLS
AND VELVET CASES WHERE THEY STORE
ALL THE PIECES OF BROKEN LEASES
WITH THE BITTER NEIGHBORS NEXT DOOR
IT'S LESS THAN YOU SEE, THE BIRD CAN'T BE FREE
HE'LL STARVE IN THE COLD WILDERNESS
WITHOUT THE SHELTER OF LOVING HANDS
FOR HIS HEAVENLY CARESS

OH FATHER DON'T YOU FEAR
IT'S NOT TIME TO PANIC
THERE ARE DAYS OF LEISURE NOT FAR AHEAD
WE GOT DECK SEATS ON THE TITANIC

AND THE BAND PLAYED ON IN THE PALE MOONLIGHT
WHILE THE SHIP WENT DOWN WITHOUT A FIGHT
EVERYONE STAYED REMARKABLY CALM
THANKS TO THE BAND AND THE TWENTY-THIRD PSALM

FRIENDS FOR LIFE, YOU'VE HAD A FEW
BUT LOST THEM IN NO TIME
PLEASURE AND PAIN, FIRE AND RAIN,
JUST THE POET'S STANDARD RHYME
YOU'VE HOISTED YOUR FLAG, MADE YOURSELF A DRAG
DONE YOUR BEST TO BE RIGHTEOUS AND SACRED
BUT WHAT HAS IT GOT YOU, LOOK AT YOURSELF
YOU'RE STILL SHIVERING AND NAKED

OH MY FRIENDS, I ENVY YOU
YOU WILL NEVER PANIC
YOU'VE CEASED TO SEE THE DANGER
IN A DECK SEAT ON THE TITANIC

A BOOK OF RHYME AND A BLACK-FACED MIME
WERE LEFT LYING IN THE STREET
IT WAS THE AGE OF REASON, THE CHANGE OF A SEASON, OBVIOUS BY THE HEAT
NO ONE WAS SURE OF THE PATENTED CURE
THE DOCTOR KNOWS NOT WHAT TO SAY
IF HE DID HE WOULD, HE'D SPEAK RIGHT UP
IT'S A GUARANTEED FORM OF PAY

OH BROTHER DON'T ACT SO FAST
IT'S NOT TIME TO PANIC
YOU CAN'T TELL ME YOU'VE FOUND A BETTER VIEW
THAN FROM A DECK SEAT ON THE TITANIC