J P Morgan

Biden Farewell Address Reminiscent Of Eisenhower

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President Joe Biden’s Farewell Address was reminiscent of the Farewell Address of Dwight D. Eisenhower in 1961.

Eisenhower warned of the dangers of the “Military-Industrial Complex”, and his Farewell Address is regarded as one of the three greatest Farewell Addresses, alongside George Washington in 1796 and Jimmy Carter in 1981.

Biden brought up the dangers of the “Tech-Industrial Complex”, referring to billionaire oligarchs, including Elon Musk, Jeff Bezos, Mark Zuckerberg, and others, who are having a great impact on Donald Trump, presenting a threat to American democracy.

Biden spoke of the Gilded Age, when millionaires and tycoons such as John D. Rockefeller, Andrew Carnegie, JP Morgan and others abused their powers, leading to the Progressive Era age of reform.

The term “Robber Barons” used in the late 19th century and early 20th century, particularly by Theodore Roosevelt, was employed by Joe Biden.

Now, it is Billionaires, not Millionaires, who are the threat to any concept of concern about what is good for the vast majority of Americans. Most of the Cabinet Officers around Trump fit that category.

Biden also cited his accomplishments in office, which like Jimmy Carter, will not be fully appreciated during his lifetime.

America Is In A New “Gilded Age” Of Obscene Wealth And Monopoly Capitalism: Reform Is Essential!

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At the beginning of the 20th century, America escaped the Gilded Age period of obscene wealth and monopoly capitalism, under the leadership of Theodore Roosevelt, Woodrow Wilson, Robert LaFollette Sr., George Norris, and others who promoted the Progressive Era.

The Progressive Era was far from perfect, but it gave hope of escaping the worst elements of the GIlded Age in the last third of the 19th century.

We have had ups and downs since the Progressive Era, the New Deal, the New Frontier, and Great Society, particularly with the triumph of conservatism under Ronald Reagan and the two Presidents Bush, and then made ever worse by Donald Trump.

But now, the news of billionaires having arrangements to keep their wealth from being taxed by overseas havens and even South Dakota allowing such reprehensible tactics is highly disturbing. This, along with the clear cut monopoly of Facebook promoting division, conflict, polarization, and affecting even young girls’ self image due to the toxic Instagram social media site, cries out for strong movement toward another “Progressive Era”.

The idea that concentration of wealth and power rivals and is clearly greater than the time of John D. Rockefeller, Andrew Carnegie, J P Morgan, and other monopolists of the late 19th and early 20th century is totally outrageous!

But is it possible in a nation with a 50-50 US Senate and a six vote margin in the House of Representatives to accomplish necessary reform?

This present, disturbing situation is a massive crisis of American democracy, with the threat of Donald Trump possibly regaining power, and destroying any possibility of reform!