Imagine Barack Obama becoming President of the U.S. and announcing he will use the Democrat-dominated Congress to pass a bill partially outlawing white men from getting jobs.

You can’t really, can you? It’s unthinkable. It would be political — and possibly physical — suicide.

Yet that is precisely what the British nasty party, Newish Labour, is considering doing. Its latest wheeze is to ban the indigenous population — minus women, of course — from getting jobs just when the icy winds of economic recession, and possibly worse, are blowing in from America.

Let’s just remind ourselves of what it’s like now out there in the real world :

The Bank of England is right now being deluged with demands by British banks to borrow £23.6 billion ($50bn) as lenders scramble to prop up their capital amid plunging global stock markets and asset values.

The Bank had offered just £5 billion ($10.4bn) to banks over a three-day period in an attempt to increase the flow of money between lenders.

Banks are running scared after the overnight news that the U.S. Federal Reserve has cut the discount rate by 0.25 percent and facilitated the fire sale of Bear Stearns to J.P. Morgan Chase at a fraction of its value.

Meanwhile, our government socially engineers while the City burns.

As subprime politicians in a subprime government, they should be sliced and diced and bundled into political instruments for sale to any institution that wants them.

Don’t hold your breath.

Postscript Our apologies for yet another political and economic article in this studiously non-political site. The news is getting so alarming now that it’s proving impossible to ignore the elephant in the broom cupboard — which is what the global financial situation now is.