Oligarchy Taking Shape In America,” Says President Joe Biden

Oligarchy Taking Shape In America Says President Joe Biden

Outgoing US President Joe Biden  warned Americans about a “dangerous concentration of power” among a few wealthy people in the United States and urged them to “stand guard” against threats from oligarchs, disinformation, and AI in a future under Donald Trump as he delivered a farewell address on Wednesday ahead of stepping down next week.

Warning Against Concentration of Power

In his farewell address, US President Joe Biden issued a stark warning about the growing concentration of power among a select group of wealthy individuals.

He emphasized the risks posed by extreme wealth, power, and influence, particularly referencing the ties between Donald Trump and billionaire figures like Elon Musk.

Biden warned that this oligarchy threatens the very foundations of American democracy and its freedoms.

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Concerns Over Rising Tech Influence

President Biden drew parallels between the current situation and the military-industrial complex warned about by Dwight Eisenhower.

He expressed deep concern about the rise of a tech industrial complex, driven by unchecked influence, which could pose a risk to democratic institutions and freedom.

The Spread of Misinformation

In his address, Biden addressed the growing issue of misinformation and disinformation. He highlighted how the free press is deteriorating, and social media platforms are failing to curb falsehoods. The unchecked dissemination of false information undermines democracy and enables those in power to exploit this for personal and financial gain.

Threats to Environmental Protections

President Biden also voiced his concerns over efforts by powerful interests to rollback environmental protections. He pointed to Trump’s plans to withdraw from global climate accords and other international agreements aimed at combating climate change.

These actions, Biden warned, could undermine the progress made in addressing the climate crisis for the benefit of personal power and profit.

Biden also discussed the implications of artificial intelligence, calling it a significant technological advancement with the potential for both tremendous benefits and risks. He urged vigilance, emphasizing the need to regulate AI to safeguard the economy, national security, and societal well-being.