I think the lyrics are saying, from this widow's perspective, that we don't recognize how easy life is, most of the time ("an easy breezy wind at your back"), and if you don't know what that means, then you haven't really hit hard times yet. Most people really haven't 'hit times hard enough to realize how good they really have it.
And I think the "R O Y G B I V", which is referring to all the colors of the rainbow, is talking about the real vibrant beauty of life and reality. It's saying that, even if with all the pains and troubles of life, the world is not only beautiful but funny and for that reason even more beautiful.
I think the lyrics are saying, from this widow's perspective, that we don't recognize how easy life is, most of the time ("an easy breezy wind at your back"), and if you don't know what that means, then you haven't really hit hard times yet. Most people really haven't 'hit times hard enough to realize how good they really have it.
And I think the "R O Y G B I V", which is referring to all the colors of the rainbow, is talking about the real vibrant beauty of life and reality. It's saying that, even if with all the pains and troubles of life, the world is not only beautiful but funny and for that reason even more beautiful.