With all eyes glued to the collapse of global capitalism as we know it, attention has been somewhat distracted from the race to lead what still remains the most powerful nation on earth - the United States. We ignore it at our peril.
From the shockingly partisan presentation by the pro-Obama media on both sides of the Atlantic, you'd think this was a contest between twin pillars of rectitude and inspirational high seriousness on the Democratic side, and a joke Republican ticket consisting of an erratic old man and a brainless, wacko, gun-toting beauty queen, who in a fit of madness John McCain picked as his vice-presidential candidate.
US Democratic nominee Senator Barack Obama: Are we giving him a too much leniency?
What is really astounding, however, is the hue and cry over this non-event in Alaska while a raft of disturbing evidence about Senator Obama's connections is being either glossed over or not reported at all.
Sarah Palin: The key target for Democrats
Not only that, Obama and Ayers both sat on the boards of two organisations, the Chicago Annenberg Challenge and the Woods Fund. These organisations put into practice Ayers's revolutionary ideology by channelling money supposed to fund regular educational projects into extreme radical groups instead.
Obama now says he didn't know of Ayers's terrorist past and never endorsed his views, simply working with him on an educational project. But it defies belief he didn't know about Ayers, who was notorious in Chicago. In 2001, indeed, Ayers told a magazine: 'I don't regret setting bombs. I feel we didn't do enough.'
The crucial point was that this educational project was itself a vehicle for subversion; in the view of Ayers, its driving force, education was 'the motor-force of revolution'. Moreover, Obama wrote a rave review about Ayers' book on criminal justice, which compared America to South Africa under apartheid.
If John McCain had such strong links with ACORN, wouldn't he be torn apart for it?
But Obama never distanced himself from the anti-white teachings of his church, which was heavily influenced by the philosophy of the black racist James Cone who claimed that 'whiteness is the symbol of the antichrist'.