I watched it and while it was cringe-worthy from a comedic stand-point, I did not think much more of it than that. Does it make me a litle sad that some people find it funny? Sure. Do I think that people finding it funny is surprising? Not at all. But I certainly do not think that people finding this humorous is emblematic of why Western Culture is despised: and even if it is symbolic of that hatred, I'm probably getting pretty tired of worrying all about why people find my culture offensive.
I also am probably getting tired of people losing sleep over things that are "offensive". While I don't think people should have license to offend anyone at any time, I also think that thicker thin might sometimes be required in instances like this. He's a freaking lame comedian with a ventriloquist act for heaven's sake. At the end of the day, why do we care if he's offending anyone? To satisfy our quota of weekly required moral outrage that we're supposed to feel? If I had $1 for every Jew joke I've heard in my life, I'd own my own small island by now, and if I got offended every time I heard one, I'd probably have died of a heart attack by now. Again, that does not make it "right" but I think that to expect to waltz through your life without taking or giving offense now and then is unrealistic and probably boring, too.
Anyway, I will reiterate that I don't find this at all funny, and I question the comedic tastes of anyone that does (I'm looking at you, Lazarus).....but I also think that it's a fairly harmless thing, and in no way, shape or form something to get up in arms about, doubly so when you consider the source of the material (the comedian) as well as the types of people rating the clip.
And, lastly, some of the arrogance in here is stifling.