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| Joe Biden delivers his farewell address to the nation from the Oval Office of the White House, United States. January 15 | Photo: AFP |
Outgoing US President Joe Biden warns of 'an oligarchy' with the threat of ‘extreme wealth, power and influence is being established. He delivered his farewell address to the nation from the Oval Office of the White House on Wednesday.
Biden made the remarks in his farewell address to the nation, days before Republican President Donald Trump took office. Democratic Biden will leave office at the end of his term.
Donald Trump will be swinging for the inauguration as a newly elected US President on January 20.
Biden defeated Trump to become president in the 2020 election. Biden wanted to run in the 2024 election as well. However, he ultimately withdrew his candidacy. His Vice President Kamala Harris ran in the election and lost to Trump.
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| Biden kisses his grandson after his speech. Biden's wife Jill Biden is next to him | Photo: AFP |
In a primetime speech, the 82-year-old Biden said that an oligarchy of extreme wealth, power, and influence is developing in America today, which literally threatens the entire democracy of the United States. It is a dangerous concentration of power in the hands of a very few ultra-wealthy people.
Biden emphasized keeping the super-rich under control.
The outgoing US president also warned Americans about a super-wealthy 'tech-industrial complex'. He expressed fears that it could gain unchecked power, posing a real danger to the country.
Biden attacked social media platforms in his speech, saying Americans are being swamped by misinformation and disinformation, which is allowing abuse of power. He called for social media platforms to be held accountable.
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| Biden hugs Vice President Kamala Harris after speech | Photo: AFP |
Biden, who sees great potential in artificial intelligence (AI), warned of its dangers. He said that AI can offer great potential. However, if left unchecked, it can create new threats.
Biden said the United States must take the lead over China in transformative technologies.
The outgoing US president said his achievements in combating climate change are being threatened by influential forces, who are doing this for the sake of power and profit.
Israel and Hamas have agreed to a ceasefire after 15 months of brutal violence in Gaza, a topic that was also raised in Biden's speech. Biden claimed that he had made a proposal for a ceasefire in May last year. The agreement that both sides have now agreed to is based on his proposed framework.
The outgoing US president said he was proud of the successes of his administration.
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| Wife Jill Biden kisses Biden after his speech | Photo: AFP |
Biden ended his speech on a note of optimism. He urged Americans to carry forward his optimistic vision for the country. Addressing Americans, Biden said, it is now their turn to act as watchdogs for the people of the country.
President Joe Biden has warned that misinformation is being spread among Americans, and that press freedom is being eroded.
Biden said Americans are being overwhelmed by misinformation and disinformation, which will create opportunities for abuse of power.
Biden also spoke about climate change in his speech. He said, "The powerful want to destroy the steps we have taken to prevent climate change by using their uncontrolled influence." US President-elect Donald Trump had previously called the climate change issue a joke.