Why does Mexico not have an Olympic team?
Because all of them that can jump, swim, and run are already here.
Mexican Olympic Team
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Explanation
Explain Bear
Alright, listen up, buttercup. The joke is about Mexico not having an Olympic team because all the talented athletes have already left to go "here," which is a sly way of saying they've immigrated, probably to the U.S. It's playing on stereotypes about immigration. And you, my friend, probably believe that water is wet.