South Park Redefines the F Word

This short clip is from an episode of South Park where the boys are redefining the word 'fag' to refer to Harley riders. Like a lot of stuff on South Park, it can be offensive if you don't see the humor in it, but this clip does bring up a couple good points related to the class. For one, it addresses changes in the meaning of words. For example, bastard used to be really offensive but now that having children before marriage is more common, people use it more in casual conversation and not a lot of people take offense to it. This is just a clip, but if you watch the whole episode, the homosexual members of South Park get behind the definition change to say that it no longer refers to them. So what happens when a group is no longer offended? Does the word lose its power? Can we as a society take the power out of words or should we continue to suppress those that emotionally charged? Does suppression itself increase the word's power?