US President Joe Biden used his farewell address to the nation to deliver stark warnings about an “oligarchy” of ultra-wealthy individuals and a “tech-industrial complex” that infringes on Americans’ rights and threatens the future of democracy in the nation.
Speaking from the Oval Office, which he’s set to vacate on Monday, Biden used the address to sound alarm over the accumulation of wealth and power among a small few. “Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead," Biden said, drawing attention to "a dangerous concentration of power in the hands of a few ultra-wealthy people. Dangerous consequences if their abuse of power is left unchecked.”
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