Outgoing US President Joe Biden warned of a “dangerous” oligarchy taking shape in America, as he delivered his farewell address and brought a decades-long career in politics to an end.
“Today, an oligarchy is taking shape in America of extreme wealth, power and influence that really threatens our entire democracy, our basic rights and freedom,” he said on Wednesday.
Biden wished Donald Trump’s incoming administration success, but then issued a series of pointed warnings, with the president stating “so much is at stake right now”.
Biden warns of tech-industrial oligarchy taking shape in the US
Biden took aim at an ultra-wealthy “tech-industrial complex” which he said could wield unchecked power over Americans.
“We see the same dangers of a concentration of technology, power, and wealth. You know, his farewell address, President Eisenhower spoke of the dangers of the military-industrial complex. He warned us then about the potential for the disastrous rise of misplaced power,” he said.
“Six decades later, I’m equally concerned about the potential rise of a tech industrial complex that could pose real dangers for our country as well. Americans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power. The free press is crumbling, editors are disappearing, social media is giving up on fact-checking,” Biden warned.
And his attack on an ultra-wealthy “tech-industrial complex” was a veiled reference to Silicon Valley executives such as Elon Musk, the world’s richest man who is close to Trump and provided huge financial backing to his campaign.
Other tech bosses such as Jeff Bezos and Mark Zuckerberg have made efforts to improve relations with Trump ahead of his return to the White House.
Warning on climate change
Speaking from the Oval Office, he also used his final televised speech to issue warnings about climate change. “Right now, the existential threat of climate change has never been clear. Just look across the country, from California to North Carolina,” the outgoing president said and added the following warning:
“The powerful forces want to wield their unchecked influence to eliminate the steps we’ve taken to tackle the climate crisis, to serve their own interest for power and profit. We must not be bullied into sacrificing the future, the future of our children and our grandchildren.”
He also raised the issue of amending the US Constitution “to make clear that no president is immune from crimes that he or she commits while in office. The president’s power is not limited. It’s not absolute. And it shouldn’t be.”
Closing his speech, Biden called on Americans to “stand guard” of their country: “May you all be the keeper of the flame.”