Biden, in his farewell address, declared the birth of an oligarchy in the U.S.

The incumbent US President Joe Biden said that at the moment an oligarchy is beginning to emerge in America, which poses a threat to democracy. He stated this on January 15 during his farewell address.

"Today, an oligarchy of extraordinary wealth, power and influence is taking shape in America that literally threatens our entire democracy, our fundamental rights and freedoms and a fair chance for everyone to succeed," The New York Times quoted Biden as saying.

In his view, the dangerous...