Summary
In his farewell speech, President Joe Biden warned of a growing “oligarchy” in the U.S., where extreme wealth and power threaten democracy.
Comparing modern elites to 19th-century robber barons, he called for reforms to hold the wealthy accountable, as done in the past.
Biden also criticized a “tech-industrial complex” concentrating power and spreading disinformation, weakening democracy.
His remarks sparked a surge in Google searches for “oligarchy.”
The speech comes amid rising concerns about policies favoring billionaires, like Trump’s tax cuts and potential cuts to social safety programs.
He’s just as complacent in the oligarchical society we currently have as anyone.
Hey now - he was perfectly fine with the plutocracy that has ruled for hundreds of years. It’s Republican legislation that led to this – think Dodd-Frank.
Democrat leadership is happy to skim some off the top. Republicans will strip it to the bone.