I believe the phrase relates to situations where, if you do something like a headless chicken, you do it very quickly and without thinking carefully about what you are doing. This seems to sum up our political elite with their possible plans to get some cash in the bank quickly and thus ease the nations financial problems.
Keep going at this rate and the bloody country won't have a 'resource' left to call our own! Perhaps we the people should attempt to auction off our political elite? Then on the other hand, who wants to buy 'damaged' and totally useless goods?
C'mon WfW - do engage brain!