Biden warns ‘dangerous’ oligarchy taking shape in final address
Outgoing US President Joe Biden warned that a “dangerous” oligarchy was forming in the United States as he delivered his farewell address and ended a decades-long political career.
“Today, an oligarchy of extreme wealth, power and influence is emerging in the United States that truly threatens our entire democracy, our fundamental rights and freedoms,” he said on Wednesday.
Biden, 82, has taken aim at a super-rich “tech-industrial complex” that he says could gain unchecked power over Americans.
He also used his final televised address from the White House to warn about climate change and social media disinformation.
Speaking from the Oval Office, he touted his one-term administration’s record, citing job creation, infrastructure spending, health care, leading the country out of the pandemic and making America a safer country.
However, he added, “it will take time for us to feel the full impact of what we have done together, but the seeds have been planted and they will grow and bloom for decades to come.”
Biden wished Donald Trump’s incoming administration success, but his speech was followed by a series of pointed warnings, with the president saying “a lot is at stake right now.”
On climate change, he said, “powerful forces want to use their unchecked influence to undo the steps we take to address the climate crisis in the service of their own power and profit”.
Regarding misinformation, Biden warned that “Americans are being inundated with misinformation and disinformation, leading to abuses of power.”
He also took explicit criticism of social media companies like Meta, which recently announced it would Get rid of independent fact checkers. “Social media is abandoning fact-checking. The truth is being obscured by lies spun for power and profit,” Biden said.
His attack on the super-rich “tech industrial complex” alluded to Elon Musk, the world’s richest man, who has close ties to Trump and provided huge financial support to his campaign.
Other tech executives such as Jeff Bezos and Mark Zuckerberg have worked to improve relations with Trump ahead of his return to the White House.
At the end of his speech, he called on Americans to “guard” their country: “May you be the keepers of the flame.”
His address arrived on the same day He announced a ceasefire between Israel and Hamas.
Biden said the negotiations were the toughest of his career and was credited with helping seal the deal.
Under the agreement, the ceasefire will take effect on January 19, the day before Trump is inaugurated. The incoming president also took credit for the deal, saying it was only possible because he won the November election.
