Panel 1: We find ourselves watching Michael on his bicycle telling Lawrence's silhouette that an unspecified "they" are lined up at the gate, are tense and ready to go.
Panel 2: He then writes the rest of the strip by announcing that said "THEY" are off. Lynn wants us to think that "they" means him and Lawrence but she sabotages herself in the next panel.
Panel 3: He rather broadly hints as to who the saps he and Lawrence are pursuing are when he says that 'they' are off to a good start with someone whom he calls "Thunderbutt" slightly in the lead. This tells us that he's comparing something that's none of his damned business to a horse race because he was born an insensitive little prick who'll die thinking that other people's feelings are a big joke and the only cure for that is his super-gratifying (but unfortunately not bloody and/or painful) death.
Panel 4: He then states that the woman he calls Thunderbutt has rounded the first corner with her companion (whom he has assigned the super-demeaning nickname 'Wide Load' because he has a long and horrible history of needling his mother about the weight that she feels ashamed of because, as a sub-human piece of shit, only his feelings matter) has taken a slight lead.
Panel 5: He then tells Lawrence that the two women are down what Lynn doesn't know is called the straight-away.
Panel 6: I reject his reality and call "Thunderbutt" 'Jogger Number One' when noting that she's showing signs of exhaustion which allows Jogger Number Two a slight lead.
Panel 7: Now that we're at the home stretch, Jogger One reminds us that most of the reason that she's exhausted all the time is that she didn't take up jogging gradually by showing severe exhaustion while Jogger Two breaks away.
Panel 8: He then declares the second jogger the winner.
Panel 9: As the two boys laugh about what they've just seen, we zoom out to see who it is that they've been stalking. As Connie leans against a tree and gasps for breath, Elly turns around and tells Mike that if he thinks he's gonna follow them around and do THAT again, he's dead meat on a stick.
Summary: What we have here is the messy collision of nature and nurture. Mike was born with a tendency to forget that other people's feelings matter as much to them as his do to him but it's not as if his parents model respect for the rights and feelings of those around him. If they want a Mike that's respectful, they would do well to stop teaching him that only power matters.