Biden to target Trump in farewell speech..."Super rich oligarchs threaten democracy"

Outgoing U.S. President Joe Biden warned of the dangers of oligarchy ahead of the inauguration of the next Donald Trump administration, saying that "power was concentrated in the hands of a very few ultra-wealthy people."

In a farewell speech to the nation on the 15th local time, President Biden said, "There is an oligarchy of excessive wealth, power and influence in the United States, which threatens democracy as a whole and fair opportunity."

"People should be able to earn as much as they can, but they should compete according to the same rules, and pay their fair share of taxes," Biden stressed.

This is interpreted as pointing out the fact that there are many billionaires in the next administration's cabinet and staff, including Trump.

Citing the climate issue, President Biden went on to point out that "strong forces want to remove measures taken to address the climate crisis and wield unchecked influence for their own interests."

Referring to the fact that former President Eisenhower warned about the dangers of the Gunsan complex when he left office, he said, "We are equally concerned about the possibility of the rise of the technology industry complex."

"Americans are buried in an avalanche of misinformation and disinformation, enabling abuse of power," he said.