The Globe and Mail reports in its Thursday edition that U.S. President Joe Biden warned on Wednesday in his farewell address that an American oligarchy is taking shape among a few wealthy people who have amassed a "dangerous concentration of power." A Reuters dispatch to The Globe says Mr. Biden warned of a "tech-industrial complex" in the United States in words that echoed president Dwight Eisenhower's farewell address in 1961. Mr. Eisenhower, closing out eight years as president, had warned of the dangers of a "military-industrial complex" gaining power. "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," Mr. Biden said from the Oval Office. He did not mention names, but Tesla boss Elon Musk has amassed not just vast wealth but has become a powerful adviser to incoming president Donald Trump. "Six decades later, I'm equally concerned about the potential rise of a tech-industrial complex. It could pose real dangers for our country as well. Americans are being buried under an avalanche of misinformation and disinformation, enabling the abuse of power," he said.
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