What does Genesis 47:5 mean?

When that year ended, they came back to Joseph and said, 'We can’t hide the truth from you. We’ve spent all our money and given you all our animals. There’s nothing left except our bodies and our land.' Genesis 47:5 - Modern Text Bible

(The famine continued, and the people had nothing left to offer but themselves and their land. They were honest about their situation, showing how dire things had become.)