Actually they will have Shylock cutting organs from Palestinians to sell for transplants. And Othello will be re-written so that the king is an American crusader, and his wife a muslim princess.
Lots of possibilities on how to 'revise' the classics to be PC. We could even meld them.
"Call me Ismahl... It was the best of times, and the worst of times. I speak of 9-11 and the evil Bush administration."