Biden: oligarchy is emerging in the US, its influence threatens American democracy

The growth of oligarchy in the United States threatens state democracy and the country's economy. This was reported by the current head of state Joe Biden on January 16 during his farewell address to the nation, which was broadcast on YouTube channel of the White House.

"Today, an oligarchy of extraordinary wealth, power and influence is forming in America, which literally threatens our entire democracy," the American leader said.

He specified that the well-being of the country is threatened...