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How Countries Fall into the Welfare Trap

People like the welfare state because they suppose that it comes at no costs and provides many benefits.

If people knew how much the present consumption of social benefits entails less prosperity in the future, the population would have a critical attitude towards the welfare state and politicians would have a harder time selling their fraud. Just as a society that ranks security over liberty loses both, a society that attributes a higher value to social benefits than to wealth creation ends up with neither wealth nor benefits.

A short-term perspective is intrinsic to modern democracy. It is run not by the people but by political parties. Such a political system promotes the redistribution of the cake and neglects that the goods must be produced before they can be consumed. Without production, however, there can be no distribution. The illusion is widespread and propagated by the political machinery that production is independent of its distribution so that one could redistribute without weakening production. Yet how the product is distributed affects its future making.

A concept of justice that is only concerned with the social justice of distribution is a contradiction in terms. The justice of distribution of the goods has as its other side the justice regarding the efforts of producing the goods. Justice, rightly understood, has a distributive and a commutative aspect. The disregard of the commutative aspect of justice in favor of the distributive justice is unjust. Such an approach is also irrational since distribution is possible only when there is something to distribute.

Redistribution is unjust and economically irrational when it punishes those who produce. When the redistribution of income and wealth becomes excessive, the active part of the population withdraws from production and parasitism takes over, economic progress will falter und finally disappear. This way, society will impoverish, and the poor are left with less to nothing. In the end, the poor themselves will pay the steepest price of this policy because they will be the hardest hit when growth falls and the misery rise.

It is unethical to strive towards more justice as if it were an absolute good. The cost of imposing equality exceeds its benefits. At first, the negative effects of income equalization on economic growth are not visible. For some time, capital consumption may compensate for weak economic growth. This erosion does not immediately show up in the national income statistics because consumption counts as a part of the national product.

An insidious form of capital consumption takes place through government debt accumulation. A budget deficit means that the overall volume of national savings falls. Fewer savings imply that economic investment potential has become smaller. In the economic statistics, the expenditures  —  whether they are from the state or from the private side  — count equally as a contribution to the national product. Yet while the spending benefits the current receivers of the government expenditures, the lower capital formation will later show up in weaker economic growth and punishes all.

In as much as public debt is an enemy of economic growth, it is also an enemy of wealth creation. The benefits which the government distributes in the short run and that are financed by higher public debt will reduce economic growth and make poverty persistent and more widespread in the long run.

Government debt weakens economic growth and weak economic growth leads to higher government expenditures and thus furthermore to a rising debt burden. Less economic growth ignites more demand for social benefits and more redistribution leads again to even less growth. Numerous countries have fallen into the trap where social expenditures weaken the economy and where this weakness requires more spending, which in turn weakens the economy.

Cycle of Welfare Spending and Economic Stagnation
Source: A. P. Mueller: Beyond the State and Politics. Capitalism for the New Millennium. Amazon KDP 2018

The expansion of the welfare state leads to a rising public debt, which weakens the economic performance. A weakening economy entails more welfare spending and leads to a further rise of public debt, which, in turn, leads to more welfare spending. A dangerous side effect of this fall into a downward spiral is that the anti-capitalistic attitude in the population increases, since for most citizens, the causal links are difficult to recognize.

This vicious cycle is noticeable in the decline in the rate of productivity growth of the industrialized countries since the 1970s that came along with the expansion of the welfare state and the rise of public debt. The welfare state and government debt are the main causes of the decline in productivity rates. Over the past decades, the rates of the annual increase of productivity of the major industrialized countries have fallen from an average of five percent in the 1960s to around two percent in the 1990s and keep on falling.

The escape from the welfare trap is the challenge of our time. Less productivity growth means less economic growth and less economic growth means lower income. The longer a country remains stuck in the trap, the harder it is to get out. To overcome the vicious cycle, the insight must take hold that an excessive welfare state erodes productivity.

Without productivity gains, there is no increase in real per capita income. The labor productivity of a country determines its income level. The industrialized nations must get out of the whirlpool of welfare spending, public debt, and weak economic growth. Lifting the purchasing power of salaries requires higher productivity. Not more state control is the way to higher productivity but less regulation, less intervention, and less redistribution.



Is Biden’s White House run effectively over?

Source: InfoWars

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Explosion heard in central Israel after air raid sirens wail: report

Explosions were heard early Monday in central Israel after air raid sirens sounded, according to reports.

Israel’s defense forces said rockets were fired from the Gaza Strip. There was no immediate word of damages.

The Jerusalem Post reported that a rocket slammed into a home in the Kfar Saba area outside Tel Aviv. The paper reported that six people were injured.

Israeli Prime minister Benjamin Netanyahu arrived in Washington on Sunday and plans to meet with President Trump at the White House.

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Gaza is controlled by Hamas, an Islamic militant group that seeks Israel's destruction. The territory is home to other militant groups, including Islamic Jihad, an Iranian-backed armed organization that also has a formidable rocket arsenal.

The Associated Press contributed to this report

Source: Fox News World

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Durbin: 'What the Heck' Is Green New Deal

Sen. Dick Durbin said Wednesday he's read over the "Green New Deal" several times, and he doesn't know yet if he'll vote for it.

"At this point, I can't tell you," the Illinois Democrat and Senate Minority Whip told MSNBC's "Morning Joe."  "I have read it and I have reread it and I asked, 'What the heck is this?'"

The controversial 14-page proposal by Rep. Alexandria Ocasio-Cortez, D-NY, and Sen. Ed Markey, D-Mass., earlier this month, includes goals to follow for the country to reach an economy that has a net-zero carbon emission footprint.

"It's an aspiration," said Durbin. "It's a resolution. We're going to ask the Republican leader what's your position on global warming while we're at it. Should he come out on the record and say if human activity is having an impact on the environment? Get it on the record on both sides."

Durbin said he does "certainly agree," though, with the "premise that global warming is a threat to the planet and we're not doing enough."

Senate Majority Leader Mitch McConnell already has promised to bring the Green New Deal to a vote and House Republicans are calling for Speaker Nancy Pelosi to bring it the floor not to avert climate change, but because of hopes to take back Congress seats by casting Democrats as being extreme over the proposal.

Source: NewsMax Politics

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Pregnant mom of 6 killed trying to protect family from road-raging driver: cops

A pregnant mother of six children made the ultimate sacrifice Wednesday when she threw her body between a driver who allegedly tried to mow down the family after an argument over smoking a cigarette, reports said.

Melissa DeLoatch, 32, was outside a 7-Eleven store in Rockland County, N.Y., when her husband, Sean, asked 35-year-old Jason Mendez to stop smoking near his children, the New York Times reported. After the two men argued, Mendez got into his car and rammed the family of eight, backed up, and slammed into them a second time, police said.

NEW YORK DRIVER ALLEGEDLY PLOWS INTO FAMILY OF 8, KILLING MOM AFTER ASKED TO STOP SMOKING: REPORT

“My sister saw him coming at the last second and threw her body in front of the stroller and pushed the kids away,” her brother James Christopher, 28, told the New York Daily News.

Melissa DeLoatch, 32, was killed while protecting her six children from Jason Mendez, 35, who allegedly tried to plow into the family in New York on Wednesday, reports said.

Melissa DeLoatch, 32, was killed while protecting her six children from Jason Mendez, 35, who allegedly tried to plow into the family in New York on Wednesday, reports said. (GoFundMe / Haverstraw Police Department)

“The kids … they had to see their mom get run over, then run over again,” Christopher told the paper. “He drove over her, reversed and drove (over her) again.”

Witnesses told WNBC-TV they saw a woman lying on the ground severely injured and heard a baby crying. The stroller was mangled.

CALIFORNIA DRIVER HIT WITH DUI AFTER MOWING DOWN 9 PEDESTRIANS, POLICE SAY

DeLoatch, her husband and their six children-- ranging from 11 months to 10 years old-- were rushed to the hospital. DeLoatch, who learned two days prior that she was pregnant with the couple’s seventh child, was later pronounced dead, the New York Post reported.

While the three eldest children were not seriously injured, the 32-year-old mother couldn’t fully defend her three youngest children sitting in the carriage from the oncoming car, according to the Post.

Sean and Melissa DeLoatch were struck by a driver after an alleged argument over smoking. Melissa was later pronounced dead at a hospital.

Sean and Melissa DeLoatch were struck by a driver after an alleged argument over smoking. Melissa was later pronounced dead at a hospital. (Facebook)

Charlene Rodriguez, a relative, told the paper that the 2-year-old daughter suffered a concussion and needed leg surgery, while her 3-year-old son had a lacerated liver. The 35-year-old husband and their 11-month-old child remained hospitalized. Police had said the injuries were non-life threatening.

Mendez was taken down with a stun gun by police after he exited the car with a knife, Haverstraw police said. He was arrested and charged with second-degree murder, and seven counts of attempted murder, WABC-TV reported. He pleaded not guilty to all charges at his arraignment Wednesday night.

Court records show that Mendez, of Washingtonville, had an arrest record in San Antonio, Texas, where he had recently lived. He had faced charges of theft, drunken driving and domestic violence, the Times reported.

“Killer u killed my wife lover best friend mother of my 6 kids my world,” her husband wrote on Facebook after the incident, linking to an article about Mendez’s arrest.

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The DeLoatch family had reportedly been living in a family shelter and had just earned enough money for a new apartment to raise their soon-to-be seven children.

“Her life was her children,” Charlene Rodriguez told the Post. “It’s been a nightmare, one the whole family wishes we could wake up from.”

Source: Fox News National

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Dutch telecom KPN won’t use Huawei for ‘core’ 5G network

FILE PHOTO: KPN logo is seen at its headquarters in Rotterdam
FILE PHOTO: KPN logo is seen at its headquarters in Rotterdam, Netherlands, January 30, 2019. REUTERS/Piroschka van de Wouw

April 26, 2019

By Bart H. Meijer and Toby Sterling

AMSTERDAM (Reuters) – Dutch telecom firm Royal KPN NV said on Friday it would select a Western supplier to build its core 5G mobile network, making it one of the first European operators to make clear it would not pick China’s Huawei for such work.

The United States has been seeking to discourage its allies from using equipment made by Huawei because of concerns that it could eventually be used for Chinese government spying. Huawei says such worries are baseless and U.S. policy is driven by economic interests.

The Hague-based KPN, the Netherlands’ largest telecom firm, said its decision took into account “the evolving assessment on the protection of vital infrastructure and the influence this may have on future Dutch policy.”

The Dutch government has not taken a decision on the issue.

KPN, which also reported on Friday slightly worse than expected first quarter core earnings of 563 million euros ($627 million), said it would still use equipment made by Huawei in some capacities.

In addition, the company announced a preliminary deal with Huawei to upgrade existing mobile telecommunications gear to make it safer. Huawei has been a key supplier to KPN in the past decade.

The Dutch government set up a task force with KPN and other major operators in the Netherlands this month to analyze the “vulnerability of 5G telecommunications networks to misuse by technology vendors … and measures needed to manage risks.”

KPN said it would use equipment made by Huawei, which it described as a world leader in radio and antenna technology, to improve security on its existing network.

“This preliminary agreement can be adjusted or reversed to align it with future Dutch government policy,” it added.

Sources told Reuters on Wednesday that Britain’s National Security Council (NSC) had decided to bar Huawei from core parts of the country’s 5G network and restrict its access to non-core areas.

(Reporting by Bart Meijer; Editing by Kirsten Donovan and Edmund Blair)

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Papal Good Friday service draws attention to world’s poor

Pope Francis leads the Good Friday Passion of the Lord service in Saint Peter's Basilica at the Vatican
Pope Francis leads the Good Friday Passion of the Lord service in Saint Peter's Basilica at the Vatican, April 19, 2019. REUTERS/Remo Casilli

April 19, 2019

By Philip Pullella

VATICAN CITY (Reuters) – Pope Francis listened as a preacher denounced the widespread inequality in the world at a Good Friday service on the day Christians recall Jesus’ death by crucifixion.

During the “Passion of the Lord” service in St. Peter’s Basilica, songs in Latin recounted the last hours in Jesus’ life, from his arrest to his burial.

The service is one of the few during the year where the pope does not give a sermon, leaving it to Father Raniero Cantalamessa, whose title is preacher of the papal household.

Francis listened as Cantalamessa described Jesus as “the prototype and representative of all the rejected, the disinherited, and the discarded of the earth, those from whom we turn aside our faces so as not to see them”.

He said all religions had a duty to stand with the poor.

“A few privileged people possess more goods than they could ever consume, while for entire centuries countless masses of poor people have lived without having a piece of bread or a sip of water to give their children,” Canatalamessa said.

“No religion can remain indifferent to this because the God of all the religions is not indifferent to all of this,” he said.

It was the first of two services at which the pope presides on the most somber day of the Christian liturgical calendar.

On Friday night the pope, marking his seventh Easter season as Roman Catholic leader, was due to lead a Via Crucis (Way of the Cross) procession around Rome’s ancient Colosseum.

The 82-year-old leader of the world’s 1.3 billion Roman Catholics leads an Easter vigil service on Saturday night and on Easter Sunday reads the traditional “Urbi et Orbi” (To The City and The World) message.

(Reporting by Philip Pullella; Editing by Alison Williams)

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A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) in Beijing
A Chinese woman adjusts a Chinese national flag next to U.S. national flags before a Strategic Dialogue expanded meeting, part of the U.S.-China Strategic and Economic Dialogue (S&ED) held at the Diaoyutai State Guesthouse in Beijing, July 10, 2014. REUTERS/Ng Han Guan/Pool (CHINA – Tags: POLITICS BUSINESS)

April 26, 2019

By April Joyner

NEW YORK (Reuters) – Even as the lift from optimism over prospects for U.S.-China trade detente shows signs of wearing off for the wider U.S. stock market, upbeat sentiment around China’s economy could bolster shares of materials companies.

Shares of S&P 500 industrial and technology companies, which were buffeted by last year’s tit-for-tat tariffs as well as slowing global demand, have been very responsive to progress in U.S.-China trade relations and a strengthening Chinese economy. This year, those sectors have outpaced the ascent in the S&P 500, which reached a record closing high on Tuesday.

Materials stocks have not been as sensitive, however, even though they also stand to benefit as a stronger Chinese economy lifts global consumption and industrial output. As China has taken measures to stimulate its economy, its economic data have turned more upbeat. That in turn could aid global growth, which has flagged as a result of China’s cooldown.

“What we’re seeing is China spending more on stimulus: fiscal stimulus and monetary stimulus,” said Kristina Hooper, chief global market strategist at Invesco in New York. “That’s likely to be a positive for materials.”

The People’s Bank of China has cut banks’ reserve requirement ratio five times over the past year and is widely expected to ease policy further to spur lending and reduce borrowing costs. The stimulus appears to have boosted Chinese economic data, with factory activity growing in March for the first time in four months.

Yet so far in 2019, the S&P 500 materials index has underperformed the S&P 500 at large, rising just 11.9% compared with 16.7% for the benchmark index. Moreover, it is among the biggest decliners in the period since the S&P’s previous record closing level on Sept. 20. The materials index has fallen 7% over those seven months, versus a 5.2% gain for technology and a 3% loss for industrials. Only the energy index has dropped more over that period.

A trade agreement could serve as a catalyst for a bump in materials shares as a drag on China’s economy is lifted, some market strategists say. Some commodity prices, including those for copper and oil, have ascended this year as the prospects for the global economy have somewhat brightened.

“It all goes back to the global growth outlook,” said Andrea DiCenso, portfolio manager for alpha strategies at Loomis Sayles in Boston. “With the front run in hard data, we’re beginning to see a pretty significant rally.”

Additionally, a trade agreement is expected to include commitments from China to purchase higher quantities of U.S. products such as soybeans, which could benefit companies that make agricultural chemicals, including DowDuPont Inc and CF Industries Holdings Inc.

CF Industries is scheduled to report quarterly results after the bell on Wednesday, and DowDuPont is scheduled to report before the market open on Thursday.

To be sure, even with a trade agreement, some materials companies could face price pressures. Shares of Freeport-McMoRan Inc fell 10.1% on Thursday after the copper mining company posted a lower-than-expected profit as its production slipped and its costs rose.

A rollback of tariffs on Chinese imports, particularly aluminum and steel, would likely prompt a fall in some commodity prices, which could hurt prospects for certain materials companies, said Gene Goldman, chief investment officer at Cetera Investment Management in El Segundo, California.

Even so, those drawbacks may be outweighed by the support for global demand fostered by a U.S.-China trade agreement.

“You could see a number of companies with lowered expectations bring them back up as they talk favorably about the impact that a trade deal would have on them,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

(Reporting by April Joyner; additional reporting by Sinéad Carew; editing by Jonathan Oatis)

Source: OANN

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Cyprus police on Friday widened their search for more victims of a suspected serial killer after the 35-year-old national guard captain told investigators he killed four more people that he previously admitted to on the small Mediterranean nation.

The count now has climbed to seven.

CYPRUS FEARS POSSIBLE SERIAL KILLER AFTER BODIES OF TWO WOMEN ARE DISCOVERED IN MINESHAFT

Authorities said they are focusing on a military firing range, a man-made lake and an abandoned mine about 20 miles west of the capital Nicosia.

Cypriot President Nicos Anastasiades expressed “deep sorrow and concern” at the slayings and said he shared the public’s revulsion at “murders that appear to have selectively targeted foreign women who are in our country to work.”

“Such instincts are contrary to our culture’s traditions and values,” he said in a statement from China, where he was on an official visit. He urged calm so police can complete their investigation.

The scale of the alleged crimes by a Cypriot National Guard captain has horrified the small nation of over a million people, where multiple killings are rare. Five British law enforcement officials — including a coroner, a psychiatrist and investigators who specialize in multiple homicides — have been dispatched to help with the investigation.

On Thursday, the 35-year-old suspect, who can’t yet be named because he hasn’t been formally charged, told investigators that he had killed four more people than he had previously admitted to. Police said the suspect will appear in court Saturday for another custody hearing.

Cypriot investigators and police officers search a flooded mineshaft where two female bodies were found, outside of Mitsero village, near the capital Nicosia, Cyprus, Monday, April 22, 2019. Police on the east Mediterranean island nation, along with the help of the fire service, are conducting the search Monday in the wake of last week's discovery of the bodies in the abandoned mineshaft and the disappearance of the six-year-old daughter of one of the victims. 

Cypriot investigators and police officers search a flooded mineshaft where two female bodies were found, outside of Mitsero village, near the capital Nicosia, Cyprus, Monday, April 22, 2019. Police on the east Mediterranean island nation, along with the help of the fire service, are conducting the search Monday in the wake of last week’s discovery of the bodies in the abandoned mineshaft and the disappearance of the six-year-old daughter of one of the victims.  (AP)

The victims — all foreigners— include Marry Rose Tiburcio, 38, from the Philippines, whose bound body was found April 14 in a flooded mineshaft. She and her six-year-old daughter had been missing since May of last year.

The girl remains missing and authorities believe she was also slain by the suspect. Divers have entered the reservoir to search for her but have not found her body yet.

CYPRUS: GROUND NOT YET READY FOR PEACE TALKS RESUMPTION 

Authorities tracked down the officer last week by scouring Tiburcio’s online messages.

Six days later, police discovered another body April 20 in the same mineshaft, identified by Cypriot media as 28-year-old Arian Palanas Lozano, also from the Philippines.

A third alleged victim, also of Filipino descent, is 31-year-old Maricar Valtez Arquiola, who had been missing since December 2017. The suspect initially denied killing Arquiola but reversed himself after a court hearing Thursday, a police official said.

The suspect on Thursday also pointed investigators to a military firing range, where they discovered another unidentified body, which according to the suspect belongs to a woman of either Nepalese or Indian descent.

SERIAL KILLER WHO MAY HAVE COMMITTED 90 MURDERS IS LINKED TO YET ANOTHER KILLING 

Cypriot police are also looking for a Romanian mother and daughter. Cypriot media identified them as Livia Florentina Bunea, 36, and eight-year-old Elena Natalia Bunea, who are believed to have been missing since September 2016.

The man-made lake remains off-limits to a manned search because of high levels of toxic heavy metals from the copper pyrite mine, Fire Service Chief Marcos Trangolas said, adding that authorities will use other means to scour the lake.

Chief of Cypriot police Zacharias Chrysostomou, center, walks with Cypriot investigators and police officers at a flooded mineshaft where two female bodies were found, outside of Mitsero village, near the capital Nicosia, Cyprus, Monday, April 22, 2019.

Chief of Cypriot police Zacharias Chrysostomou, center, walks with Cypriot investigators and police officers at a flooded mineshaft where two female bodies were found, outside of Mitsero village, near the capital Nicosia, Cyprus, Monday, April 22, 2019. (AP Photo/Petros Karadjias)

Cyprus police have faced criticism from immigrant activists who said they didn’t act fast enough to investigate the whereabouts of some of the victims, many of them domestic workers. The island nation has 80 unsolved missing persons cases, going back to 1990.

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Police chief Zacharias Chrysostomou said a three-member panel has been assigned to probe whether police followed all the correct protocol in recent missing persons cases.

According to the state-run Cyprus News Agency, an investigator had told the court at an earlier hearing that the suspect admitted to killing one woman he met online after having sex with her.

The Associated Press contributed to this report. 

Source: Fox News World

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Venezuelan opposition lawmaker Gilber Caro is seen delivering a speech at a forum on human rights in Caracas
Venezuelan opposition lawmaker Gilber Caro is seen delivering a speech at a forum on human rights in Caracas, Venezuela June 12, 2018 in this still image taken from a video. REUTERS TV/ via REUTERS

April 26, 2019

CARACAS (Reuters) – Venezuela’s opposition-run National Assembly said on Friday that opposition lawmaker Gilber Caro was detained, which it described in a Twitter post as a violation of diplomatic immunity.

Caro had previously spend a year and a half in jail, before being freed in June 2018. The arrest comes as Juan Guaido, the National Assembly’s leader, mounts a challenge to President Nicolas Maduro, arguing his 2018 re-election was illegitimate. Guaido in January invoked the country’s constitution to assume an interim presidency.

(Reporting by Caracas newsroom; Editing by Chizu Nomiyama)

Source: OANN

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FILE PHOTO: Customers shop in a Sainsbury's store in Redhill
FILE PHOTO: Customers shop in a Sainsbury’s store in Redhill, Britain, March 27, 2018. REUTERS/Peter Nicholls/File Photo

April 26, 2019

By James Davey

LONDON (Reuters) – With Sainsbury’s dream of creating Britain’s biggest supermarket group in tatters, its chastened CEO Mike Coupe needs to reassure investors he has the plan to arrest a sales decline when he presents annual results next week.

Britain’s competition regulator blocked Sainsbury’s 7.3 billion pound ($9.4 billion) takeover of Walmart’s Asda on Thursday, saying the deal would increase prices. Sainsbury’s shares fell 5 percent and are down 22 percent over the last three months.

For Sainsbury’s fourth quarter to March 9 analysts are on average forecasting a 1.6 percent fall in like-for-like sales, which would follow 1.1 percent decline over the Christmas period.

Monthly industry data from researcher Kantar has also shown Sainsbury’s as the weakest performer of the big four grocers this year and this month it lost its status as Britain’s No. 2 supermarket group by market share to Asda.

While Sainsbury’s has struggled, market leader Tesco has gained momentum, this month reporting a 34 percent jump in full year profit.

Prohibition of the deal was a major blow to Coupe, its architect and Sainsbury’s boss since 2014.

Martin Scicluna became Sainsbury’s chairman last month and when bedded-in may decide that if the group needs a major shake-up it is best carried out by a new leader.

Much will depend on the attitude of 22 percent shareholder the Qatar Investment Authority, which has so far declined to comment, as well as Coupe’s own appetite to continue after 15 years at the group.

THE RIGHT STRATEGY?

Coupe said on Thursday he was confident Sainsbury’s was pursuing the right strategy.

That was a clear indication that Wednesday’s results statement will not include radical changes to the group’s plans, such as a big margin reset — sacrificing profit to drive sales.

However, sources connected to Sainsbury’s said Coupe would likely acknowledge that more needs to be done on prices, so the supermarket business can better compete with its big four rivals – Tesco, Asda and No. 4 Morrisons – as well as German-owned discounters Aldi and Lidl.

Coupe’s strategy is based on differentiating Sainsbury’s food offer, growing its general merchandise, clothing business and bank, while investing in convenience and online channels.

Some analysts believe major change is needed.

HSBC analyst David McCarthy reckons Sainsbury’s needs a margin reset, should allocate more space for core lines and needs to drive better store standards. He said Sainsbury’s might consider closing down space in some of its larger stores and reducing its non-food offer.

For the full 2018-19 year analysts are on average forecasting a pretax profit of 626 million pounds, up from 589 million pounds in 2017-18 – a second straight year of profit growth. A full year dividend of 10.5 pence per share is forecast versus 10.2 pence last time.

Bank and lawyer fees related to the proposed combination with Asda were 17 million pounds in the first half and have reportedly jumped to around 50 million pounds.

(Reporting by James Davey; Editing by Keith Weir)

Source: OANN

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Arizona Gov. Doug Ducey rejected demands from a secular group to remove posts on social media where he sent Easter greetings and cited a Bible verse, offering to provide copies of the Constitution to his critics.

Ducey, who’s a practicing Catholic, has been bombarded with calls from Secular Communities for Arizona to remove the post, which included a cross, a Bible verse, and the phrase, “He is risen.”

ARIZONA’S GOP GOVERNOR WAGING WAR AGAINST OCCUPATIONAL LICENSING LAWS

The group argued the posts crossed a line into government sponsorship of religious messages and was unconstitutional.

The governor fired back at the group, saying in a tweet that he will never remove the posts or other religious ones.

“We won’t be removing this post. Ever. Nor will we be removing our posts for Christmas, Hanukkah, Rosh Hashanah, Palm Sunday, Passover or any other religious holiday,” he tweeted. “We support the First Amendment, and are happy to provide copies of the Constitution to anyone who hasn’t read it.”

Dianne Post, an attorney for the secular group, told the Arizona Republic “elected officials should not use their government position and government property to promote their religious views.”

LICENSE REQUIRED TO REPAIR DOORS? REGS SPARK HEATED DEBATE IN ARIZONA

She added the courts have repeatedly “struck down symbolism that unites government with religion,” adding that Ducey’s office must “represent and protect the rights of all residents of Arizona, including those who do not believe in a monotheistic God or any gods at all.”

Many congratulated Ducey for not backing down amid the pressure, though some Facebook users sided with the secular group and criticized the governor on his original post.

“Why do you use a government platform to bring up your personal religion?” asked one person. “Are there no citizens in your jurisdiction that believe differently from you?”

Another stipulated that the post was somewhat discriminatory. “Great sensitivity, Doug. That’s the last time this Jew votes for you,” one person wrote.

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Ducey wished in a statement Arizonans last week a “blessed and joyful Easter and Passover weekend.”

The Associated Press contributed to this report.

Source: Fox News Politics

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