Biden warns of an ‘oligarchy’ of wealth and power threatening US democracy

US

President Joe Biden has warned of a “dangerous concentration of power” among a few wealthy people in the United States in his farewell address to the nation.

Without naming president-elect Donald Trump, Mr Biden said: “Today, an oligarchy is taking shape in America of extreme wealth, power and influence that really threatens our entire democracy, our basic rights and freedom and a fair shot for everyone to get ahead.”

During his speech from the Oval Office in the White House, Mr Biden said the US Constitution should be amended to say no president should have immunity for crimes committed in office.

He also warned of a “tech-industrial complex” he said was infringing on the rights of Americans and the future of democracy.

The president also took credit for the ceasefire deal between Israel and Hamas.

“This plan was developed and negotiated by my team, and it will be largely implemented by the incoming administration,” he said.

“That’s why I told my team to keep the incoming administration fully informed, because that’s how it should be – working together as Americans.”

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Mr Biden added: “It will take time to feel the impact of all we’ve done together, but the seeds are planted and they’ll grow and they’ll bloom for decades to come.”

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