Joe Biden Warns of Emerging Oligarchy in America, Threatening Democracy, in Farewell Speech

In his farewell address to the nation on Wednesday, January 15, U.S. President Joe Biden emphasized his belief that American democracy faces significant risks if Donald Trump returns to the presidency.

“I want to warn the country of some things that give me great concern,” Biden said in a 16-minute address from the Oval Office.

Without naming anyone directly, Biden alluded to certain individuals, including wealthy advisors, as posing potential threats to the freedoms and values cherished by Americans.

Biden warned that, “an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy,”

In his farewell address, the outgoing president drew a parallel to Republican President Dwight Eisenhower’s 1961 warning about the “military-industrial complex” consolidating power in Washington.

Biden suggested that the modern equivalent was a “tech-industrial complex,” which he identified as a new and emerging threat.

“Americans are being buried under an avalanche of misinformation. Editors are disappearing. Social media is giving up on fact-checking. The truth is smothered by lies told for power and for profit,” he said.

“We must hold the social platforms accountable to protect our children, our families and our very democracy.”

Some of the world’s wealthiest individuals, including Elon Musk (CEO of SpaceX and Tesla and owner of the social media platform formerly known as Twitter), Mark Zuckerberg (head of Facebook), and Jeff Bezos (founder of Amazon), have reportedly demonstrated their support for Donald Trump both before and after his November election victory.

Reports suggest that the trio plans to sit together in a VIP section during Trump’s upcoming inauguration.

In his address, Biden also urged the nation to consider reforms to key institutions, including the Supreme Court, Congress, campaign finance laws, and the presidency itself, emphasizing the need for structural changes to strengthen American democracy.

“We need to amend the Constitution to make clear that no president ― no president ― is immune from crimes that he or she commits while in office,” he said, clearly referring to a Supreme Court ruling last July that declared that presidents do have such immunity.

Biden’s presidency officially concludes on Monday at noon, marking the end of his term, as Donald Trump prepares to be sworn in for his second term as President of the United States.