When I grew up we said “sticks and stones may break my bones but words will never hurt me.” But, of course, words do have consequences.
Words are quite magical, quite miraculous, but that doesn’t mean that if we say we have a million dollars over and over again we actually get a million dollars.
On the other hand, words are qualia, and reality is constructed by the qualia we have evolved to perceive. There is an element of the magical in reality.