In his farewell speech on Wednesday before he steps down next week, outgoing US President Joe Biden cautioned Americans about a “dangerous concentration of power” among a small number of wealthy Americans and urged them to “stand guard” against threats from oligarchs, disinformation, and artificial intelligence in a future under Donald Trump.
During a brief speech at the Oval Office, the Democrat praised his accomplishments in guiding the US economy out of the severe crisis caused by the Covid-19 outbreak and claimed to have strengthened the country’s international relationships.
He claimed that a “oligarchy is taking shape in America” and that there was “a dangerous concentration of power,” alluding to the close relationships that incoming President Trump had with billionaire Elon Musk and other tycoons.
“Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedom and a fair shot for everyone to get ahead,” Biden stated.
The ultra-wealthy individuals surrounding Trump, he claimed, constitute a concentration of “extreme wealth, power, and influence that literally threatens our entire democracy.”
“I’m equally concerned about the potential rise of a tech industrial complex,” he said, recalling former President Dwight Eisenhower’s 1961 farewell speech, which warned of the perils of an unchecked military-industrial complex.
A “crumbling” media means people are more susceptible, the president added, warning that Americans are falling for false information and that press freedoms are eroding.
He claimed that “the free press is collapsing and that Americans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power.” Editors are going extinct.
Social media is abandoning fact-checking, he claimed. “Lies that are told for power and financial gain stifle the truth. To shield our kids, our families, and our democracy itself from the abuse of power, we need to hold social media companies responsible,” he stated.
Biden said, “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.” Biden was also making a clear reference to Trump’s plans to strip environmental protections and pull out of a major international global accord on combating global warming.
Identifying yet another growing global issue, Biden claimed that artificial intelligence “is the most consequential technology of our time” and that while it has the potential to be extremely beneficial, it also presents “risks for our economy and our security, our society.”
He said that Hamas had struck a truce and hostage agreement following eight months of ceaseless negotiations by his government.
Despite having a greater approval rating than both his predecessor and successor, the president is departing office with a low rating. The inauguration of Donald Trump on January 20 marks the official conclusion of Biden’s presidency.
