It's a parody of Bob Dylan's 'Subterranean Homesick Blues' done completely in palindromes.
For those of you who are idiots and don't know what a palindrome is: it is a word that has the property of reading the same in either direction... See watch: 'Race Car' Ok ready: 'raC ecaR'. You see? You get it? Read the same way! Ok you're an idiot if you don't get it by now... Just watch!