Jan 16 \u2013 Outgoing US President Joe Biden warned of a \u201cdangerous\u201d oligarchy taking shape in America, as he delivered his farewell address and brought a decades-long career in politics to an end.<\/p>\n
\u201cToday, an oligarchy is taking shape in America of extreme wealth, power and influence that really threatens our entire democracy, our basic rights and freedom,\u201d he said on Wednesday.<\/p>\n
Biden, 82, took aim at an ultra-wealthy \u201ctech-industrial complex\u201d which he said could wield unchecked power over Americans.<\/p>\n
He also used his final televised speech from the White House to issue warnings about climate change and social media disinformation.<\/p>\n
Speaking from the Oval Office where his family had gathered to watch, he touted his single-term administration\u2019s record, referencing job creation, infrastructure spending, healthcare, leading the country out of the pandemic, and making the US a safer country.<\/p>\n
He added, however, that \u201cit will take time to feel the full impact of all we\u2019ve done together, but the seeds are planted, and they\u2019ll grow and they\u2019ll bloom for decades to come\u201d.<\/p>\n
Biden wished Donald Trump\u2019s incoming administration success, but then issued a series of pointed warnings, with the president stating \u201cso much is at stake right now\u201d.<\/p>\n
On climate change, he said \u201cpowerful forces want to wield their unchecked influence to eliminate the steps we\u2019ve taken to tackle the climate crisis to serve their own interests for power and profit\u201d.<\/p>\n
On misinformation, Biden warned that \u201cAmericans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power\u201d.<\/p>\n
He also took a swipe at social media companies such as Meta, which has recently announced it will\u00a0get rid of independent fact checkers<\/a>. \u201cSocial media is giving up on fact checking. The truth is smothered by lies told for power and for profit,\u201d Biden said.<\/p>\n And his attack on an ultra-wealthy \u201ctech-industrial complex\u201d was a veiled reference at Silicon Valley executives such as Elon Musk, the world\u2019s richest man who is close to Trump and provided huge financial backing to his campaign.<\/p>\n Other tech bosses such as Jeff Bezos and Mark Zuckerberg have made efforts to improve relations with Trump ahead of his return to the White House.<\/p>\n Closing his speech, Biden called on Americans to \u201cstand guard\u201d of their country: \u201cMay you all be the keeper of the flame.\u201d<\/p>\n