How to handle an insulting teacher?

I’m a law student and my political economic teacher is , he spends 75% of the class insulting students, he definitively knows what hes talking about, the problem it is really, really annoying so much attacks to students, he kicked one student cause he was taking notes while the teacher was talking and he constantly calls me fat, to a black guy he calls him whitey. He also insults catholics, jews, girls, people who dont speak perfect spanish(the class is in México), if you happen to take out your cell phone for any reason(even if it doesnt sound) he throws to the garbage from several meters far, so does with pens. His class is just frustrating me. They cannot really fire him as teachers in this school are not payed. Not a crappy school at all, there is actually a waiting list of teachers eager to give classes there. Anyway, any experiences with such situations?