Joe Biden Warns of Rising Oligarchy Threatening Democracy in Farewell Address

Biden warns of dangers of oligarchy taking shape in US.

In his farewell address, outgoing President Joe Biden expressed concern about the rise of an oligarchy in the United States, warning that the concentration of extreme wealth, power, and influence poses a serious threat to democracy, rights, and freedom. He criticized a “tech-industrial complex” for its unchecked power, particularly pointing to social media companies like Meta, which recently decided to eliminate independent fact-checkers. He argued that social media has become a platform where lies overpower truth for the sake of power and profit.

Biden’s words echoed the warning issued by President Dwight Eisenhower about the “military-industrial complex” back in 1961. He seemed to particularly reference figures like Elon Musk, who, with his immense wealth and influence, has strong ties to Donald Trump. Biden warned that such a concentration of power could have dangerous consequences if left unchecked.

Throughout his address, Biden also acknowledged the difficulties of brokering a ceasefire between Israel and Hamas, which was set to take effect on January 19, the day before Trump’s inauguration. He credited the agreement to his administration’s efforts but also mentioned that Trump claimed credit for it due to his electoral victory.

In his final speech, Biden highlighted the achievements of his single-term presidency, including job growth, infrastructure investments, and strides in healthcare and pandemic recovery. However, he emphasized that the impact of these efforts would take time to fully be felt. Biden also cautioned that climate change and the spread of misinformation continue to be urgent issues, warning that powerful forces are seeking to reverse progress in these areas for their own gain.

As he wrapped up his speech, Biden urged Americans to remain vigilant in protecting the country’s democratic values, urging them to “stand guard” and be the “keeper of the flame.”

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