“Biden Warns of ‘Dangerous Concentration of Power’ in America, Cites Trump’s Ties to Musk and Tycoons“

In his farewell address on Wednesday, outgoing US President Joe Biden issued a stark warning to Americans about the growing “dangerous concentration of power” among a select group of wealthy individuals. Speaking to the nation ahead of his departure from office next week, Biden emphasized the increasing influence of oligarchs and corporate tycoons, citing former President Donald Trump’s close ties with billionaire Elon Musk and other powerful figures.

Biden expressed deep concern about the future of American democracy, stressing the need for vigilance in the face of emerging threats. “We must stand guard against forces that seek to consolidate power in the hands of a few,” he said, highlighting the role that oligarchs and disinformation could play in undermining democratic institutions. He also pointed to the growing influence of artificial intelligence (AI) as a potential risk, warning that unchecked technological advancements could exacerbate existing inequalities and erode public trust.

As Biden prepares to leave office, he urged Americans to remain united and proactive in defending the values of democracy, fairness, and transparency. “The fight for the future of this nation is not over,” he declared. “It is up to each of us to ensure that power remains in the hands of the people, not the few.”

The president’s remarks come at a time of heightened political polarization in the U.S., with many fearing that the influence of billionaires and powerful corporations is reshaping the political landscape. Biden’s address served as a call to action, encouraging citizens to stay informed and engaged, ensuring that the country remains on a path that reflects the collective will of its people rather than the interests of a privileged few.

Courtesy: NDTV

In a brief Oval Office speech, President Joe Biden reflected on his administration’s accomplishments, particularly in steering the U.S. economy out of the depths of the Covid-19 pandemic. He highlighted the strengthening of America’s international alliances and the progress made in economic recovery.

Biden, however, expressed grave concern for the future, warning that an “oligarchy is taking shape in America.” He pointed to the concentration of extreme wealth, power, and influence among a small elite, including the close ties between incoming President Donald Trump and billionaire figures like Elon Musk. Biden described this growing concentration of power as a direct threat to American democracy, basic rights, and the fairness of opportunities for all citizens.

“I’ve given my heart and soul to you, and I’ve been blessed a million times in return with the love and support of the American people,” Biden said, reflecting on his more than 50 years of service to the nation. He urged Americans to remain vigilant against the potential dangers posed by the rising oligarchy and to protect the ideals of equality and democracy for future generations.

In his farewell address, President Joe Biden voiced concerns about the growing concentration of wealth and power in the hands of ultra-rich individuals around Donald Trump, warning that it poses a direct threat to American democracy. He compared this rising concentration to the “dangerous concentration of extreme wealth, power, and influence,” saying it could undermine basic rights and fairness for all Americans.

Biden also drew a parallel to a warning given by former President Dwight Eisenhower in 1961 about the military-industrial complex. Biden expressed his concern about the potential rise of a “tech-industrial complex” that could similarly wield unchecked power.

The President highlighted the increasing prevalence of misinformation and disinformation, stressing that the free press is deteriorating. He stated that the media’s decline has made Americans more vulnerable to abuse of power and manipulation. “The truth is smothered by lies—told for power and profit,” he noted, calling for accountability from social media platforms to protect children, families, and democracy.

In his speech, Biden also addressed the threat of climate change, warning that powerful forces are seeking to roll back environmental protections for personal gain. He further highlighted the risks posed by artificial intelligence, acknowledging its potential benefits but stressing its possible consequences for the economy, security, and society.

The President left office with a low approval rating, although higher than his predecessor and successor. Biden’s term officially ends on January 20, marking the beginning of Donald Trump’s second presidency.

Courtesy: CRUX

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