Joe Biden's historic farewell address: A warning on ultra-wealthy and tech giants

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U.S. President Joe Biden, in his final address to citizens from the Oval Office, issued warnings regarding the dangers of an 'oligarchy of the ultra-wealthy' and a 'techno-industrial complex.'

Stating that there is an 'oligarchy' of the ultra-wealthy taking root in the country, Biden also pointed to the existence of a 'techno-industrial complex' that threatens the rights of Americans and the future of democracy.

Biden's statements quickly resonated worldwide.

During the 2020 elections, Biden had accused Trump of "conspiring to turn the U.S. into an anti-democratic country"

IS THERE A DANGER OF OLIGARCHY IN THE U.S.?

Preparing to transfer power to President-elect Donald Trump on Monday, Biden expressed his concerns regarding the concentration of power and wealth in the hands of a few.

In his final address from the Oval Office, the U.S. President stated:

'Today in America, an oligarchy of the ultra-wealthy, powerful, and influential is rising, and it literally threatens our entire democracy, our fundamental rights and freedoms, and the right to fair competition... power has become dangerously concentrated in the hands of a few ultra-wealthy individuals. If this abuse of power is not kept in check, it could lead to dangerous consequences.'

Recalling the warnings made by former U.S. President Dwight Eisenhower regarding the military-industrial complex as he left office, Biden said, 'I am equally concerned about the rise of a techno-industrial complex that could pose real dangers to our country.'

34th U.S. President Dwight Eisenhower, in his farewell address on January 17, 1961, pointed to the democracy problems the U.S. might face in the future. Events that occurred in later years, such as the Vietnam War and the JFK assassination, caused Eisenhower's speech to be frequently brought up

HAVE THE ULTRA-WEALTHY FORMED AN ALLIANCE WITH TRUMP?

Biden emphasized that some of the world's wealthiest individuals and giants of the technology sector have flocked to Trump in recent months, especially following his victory in November.

Billionaire Elon Musk spent more than 100 million dollars to help Trump get elected. Executives such as Meta owner Mark Zuckerberg and Amazon boss Jeff Bezos also made donations to Trump's election campaign.

The U.S.-based news agency AP described the situation as '...they made pilgrimages to Trump's private club in Florida to meet with the president-elect.'

An image shared by X CEO Musk in reference to the newly established DOGE department. DOGE father

Elon Musk will take part in the Trump administration and head the newly established Department of Government Efficiency (DOGE). The department has the potential to cause significant changes in the structure of the U.S. government.

Musk claims in posts on his X account that DOGE will 'change everything.'

CALLED FOR CONSTITUTIONAL AMENDMENT

Biden also called for a constitutional amendment to remove the immunity of sitting presidents. The U.S. President implied that Trump had committed crimes in the past to win elections and that the U.S. Supreme Court had provided the president-elect with unconstitutional protection.

Biden's calm and fluent delivery during his farewell address did not go unnoticed. The U.S. President had been forced to withdraw from the race during the election period due to growing debates over his mental and physical health.

On January 6, 2021, Trump supporters stormed the Capitol Building in Washington. Before the events broke out, Trump had said he would also go to the Capitol Building and that the election was stolen, asking his supporters to gather around the building. Later, when the events escalated, he called on the protesters to return home

News Source: 12punto