This article was published by The McAlvany Intelligence Advisor on Wednesday, January 31, 2018:
When Samuel Morse asked for suggestions on what his first message over his telegraph should be on May 24, 1844, Annie Ellworth suggested a verse from Numbers 23:23: “There is no magic charm, no witchcraft, that can be used against the nation of Israel. Now people will say about Israel: Look what God has done!” [Good News Bible translation.]
The same might be said about the effect that the magic elixir of deregulation and cuts in tax rates is having not only in the United States, but globally as well. Economists at the International Monetary Fund just announced that, thanks to the combination of those two potent medicines, it has revised its global economic growth estimates for each of the next two years to 3.9 percent.
This is a staggering 70 percent improvement over the average global GDP growth experienced during the unlamented Obama years.
And it’s just getting started. Walmart, Boeing, Apple, Comcast, and more than 200 other companies have announced what they’re doing with their tax savings, impacting directly the paychecks of an estimated three million workers. Now comes ExxonMobil with its announcement: $35 billion of new money is going to be pumped into its operations in the United States. The company’s CEO, Darren Woods, gave credit where credit is due: