Washington DC:
As he prepares to step down next week, outgoing US President Joe Biden delivered a farewell address on Wednesday, warning Americans about the “dangerous concentration of power” among a few wealthy individuals in the United States. He urged the nation to remain vigilant against threats from oligarchs, disinformation, and artificial intelligence in a future under Donald Trump.
During a brief speech in the Oval Office, the Democrat highlighted his accomplishments in navigating the US economy through the challenges brought on by the Covid-19 pandemic, while also strengthening the country’s alliances abroad.
In a thinly veiled reference to President Trump’s close relationships with billionaire Elon Musk and other magnates, Biden expressed concerns about the emergence of an “oligarchy” in America, characterized by extreme wealth and influence that pose a threat to democracy and basic rights.
He emphasized the need to address the growing power and influence of the ultra-rich, stating that their concentration of wealth endangers the democratic principles of the nation.
Reflecting on the warnings issued by former President Dwight Eisenhower about the military-industrial complex, Biden also raised concerns about the potential rise of a “tech industrial complex” that could jeopardize the nation’s interests.
Biden further cautioned about the spread of misinformation and the decline of press freedoms, noting that a “crumbling” media landscape leaves people vulnerable to manipulation.
Highlighting challenges related to environmental protection and artificial intelligence, he underscored the importance of addressing these issues to safeguard the economy, security, and society.
Despite leaving office with a modest approval rating, Biden’s term officially ends on January 20, coinciding with Donald Trump’s inauguration as his successor.
