Under the Red Sky Lyrics
And they lived in an alley under the red sky.
There was a little boy and there was a little girl
And they lived in an alley under the red sky.
One summer's day he came passing by.
There was an old man and he lived in the moon,
And one day he came passing by.
Someday little girl you'll have a diamond as big as your shoe
One day the little boy and the little girl were both baked in a pie.
Let the wind blow low, let the wind blow high.
One day the little boy and the little girl were both baked in a pie.
This is the blind horse that leads you around
One day the man in the moon went home and the river went dry.
Let the bird sing, let the bird fly,
The man in the moon went home and the river went dry.

0 comments?
Let the wind blow low, let the wind blow high. One day the little boy and the little girl were both baked in a pie.
... awesome!!

Here's my take.
The little boy and the girl lived in an alley under the red sky - the kids had a tough childhood - not from well to do families; living as if under a curse (red sky) - the fury of the sun - reflective of the curse pronounced in Deut 28:23 "The sky over your head will be bronze, the ground beneath you iron."
The moon is a symbol of religion - it is merely a reflection of absolute truth (the sun). It is only a reflection because it is based on man's understanding of the truth.
The man in the moon is the preacher man and he gives hope to the little girl who listens to his sermons - she has hope that she will be lifted out of the hardship she was born into - "the alley under the red sky".
But then the winds of life blew hard (the winds blew low and high) and they both ended up screwed by life just the same and died like everyone else (baked in a pie) - even if they lived their lives hoping and believing that things will get better.
This whole thing happens in a bible-based town where they preach the Kingdom of Heaven and are led around by a horse as blind as everyone else (the preacher man). He obviously has a very strong influence on the town's folks and gives them all hope. and they hope until they die.
but then the last stanza says that one day this "hope-giver" preacher man dies and the towns folk are left high and dry. That means that without hope, our lives are meaningless and dry. We need hope to live - even if it doesn't work out. For without hope and vision we perish. There is nothing to motivate us to carry on living.