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Over on Wikipedia, we find this cover from the March 1949 issue of Soviet satire mag Krokodil:

The person who uploaded it to Wikipedia captioned it "Antisemitic caricature of rootless cosmopolitan." On the talk page, someone asks:

How is this image "antisemitic"? Does anyone mind explaining this to me?

That's my question too. Sure I bet it is, but, can an expert explain it like I'm five?

It doesn't help that I can't read Russian and the image is so low-quality that I can't even transcribe or OCR it. I can make out the suitcase stickers that say "САРТР" ("Sartre") and "ЛИППМАН [sic]" ("Lippmann"), and the caption "Беспачпортныя Бродяга" which I gloss as Passportless vagabond. I can't make out the other stickers; nor the scraps of paper sticking out of the tramp's backpack; nor the presumably significant quotation below the caption which probably clarifies the whole thing; can someone transcribe and translate these for me?

I also suspect that there is significance in the mismatched patterns of our vagabond's jacket and pants; his weird little black-and-white embroidered bib; and the knife in his belt. (Both the knife and the walking-stick have been turned into pen-nibs by the cartoonist.) And possibly the hat and the overstuffed valise, for that matter. What would a Russian in 1949 have understood these symbols to mean?

Although the whole anti-"rootless cosmopolitan" campaign is now widely accepted as being antisemitic in nature, at the time it was framed as being directed against people who "lack patriotism and mindlessly worship the Western culture" - who, incidentally, were Jewish (at least, an overwhelming majority of them were). Thus, the picture depicts a literary critic, who loves Western authors and slanders russian literature. I have also been told that the man in picture has "exagerrated Jewish facial features", although I really don't see that myself =)

Now for the translation:
The stickers on the suitcase read "Сом. У. Могэм" (obviously William Somerset Maugham), "Д. Гриффит" (probably David Wark Griffith), "Андре Жид" (Andre Gide, whose surname in russian is homonymic to the word "jew", by the way), "Сартр" (Jean-Paul Sartre), "Липпманн" (Walter Lippmann) and a partially obscured one which I read as "Андре Мальро" (Andre Malreaux) - all are Western writers labeled "subversive" by USSR. The papers in his backpack read "клевета на российское искусство" ("slander on Russian art") and "клевета на советскую культуру" ("slander on Soviet culture"), the one in the pocket is just "клевета" ("slander" once again). The ink case is labeled "ЯД" ("poison"). The subtitle under "Passportless vagabond" is a quote by XIX century literary critic Vissarion Belinsky:
"I confess that I find pathetic and unpleasant [such] calm skeptics, abstract people, passport-less tramps in humanity".

You can find a better picture (which I used to read all those captions) in this article.