Lesson 3 05/03/2014

Listening
Shadow Minister Robb on Australian Budget, Economy 
What does the Shadow Finance Minister do?
-He tries to show the economic situation in a polemic way. He talks about the "meaningless plans" of the government focuses his attention on the reaction of market and foreign investors.

What are his criticisms  about the government’s budget?
What areas are the government investing in?
-He considers meaningless the spending policy of the goverment, in particular he focuses his attention, and also he spends some hard words, on the budget presented by the goverment. Spending on roads raylways and in general on some not-profitable projects it' s not a wise choice also considering the increase of the public debt and the reduction of the market confidence.

What areas would the opposition invest in?
-If the opposition took the control of the government, it would spend on more revenue areas, restoring the confidence of rating agencies and market. Reducing the cuts in these areas and also reducing regulation are considering the right choices to restore opportunities for foreign investors.

What does the phrases  “to live within your means” “ a sea of red ink” mean?
"a sea of red ink" = Financial Deficit/The condition of showing a business lost.
 "a sea of black ink" = Good financial situation.

Vocabulary
Balance of trade=The difference between a country's imports and its exports. The balance of trade is one of the most misunderstood indicators of the U.S. economy. For example, many people believe that a trade deficit is a bad thing. However, whether a trade deficit is bad thing is relative to the business cycle and economy. In a recession, countries like to export more, creating jobs and demand. In a strong expansion, countries like to import more, providing price competition, which limits inflation and, without increasing prices, provides goods beyond the economy's ability to meet supply. Thus, a trade deficit is not a good thing during a recession but may help during an expansion.

Slump = A slang term denoting a period of poor performance or inactivity in an economy, market or industry. In economic terms, a slump specifically refers to a recession.

Body Metaphors:
- To watch your back [To be careful/ To pay attention]
- To be all ears [To be very interestedin what someone is going to say]
- To shrug your shoulders [to not care or feel unable to do anything]
- To rub
            ... shoulders: To mix or socialize closely
            ... hands:To experience or display pleased anticipation
            ... nose: To bring forcefully to another's attention
- To get cold feet [to suddenly become too frightened to do something you had planned to do, especially something important like getting married]
- To turn a blind eye [to ignore something]

Rise / Arise / Raise:

Rise: ...I rise early   ;   ...the sun rises   ;   ...inflation/salary rise
Arise:  ...Opportunity/Problem arises [abstract]
Raise: ... Raise your hand/voice   ;   ...Raise the alarm


CONDITIONALS

EXERCISES:

Turn the following sentences into conditionals

1. It is possible to return an item for any reason within 28 days. The item must remain in a saleable condition.
   If the item remain in a saleable condition, it will be possible to return it for any reason within 28 days.
2. The vendor must refund or repair faulty items every time.
   If the items are faulty, the vendor must refund or repair them.
   
3. You can return goods bought on the internet to a high street outlet.If you' re not satisfaied, you can return boyght goods on the internet to a high street outlet.
4. You will probably pay for the cost of returning unwanted goods . The retailer might specify otherwise.
   If you paid for the cost of returning unwanted goods, the retailer might specify otherwise.
5. ARGOS will refund you because you might not be happy with your purchase.If you were not happy with your purchase, ARGOS might refund you.
6. I didn’t know about the fault. I bought the goods. Now I’m disappointed.If I had known about the fault, I would not have bought the goods.
7. I’m really busy at the moment. I missed the party last night because I am so busy.If I was not so busy, I would have not missed the party last night.
8. I’m glad I didn’t go to the party last night because I don’t feel tired today.If I had gone to the party last night, I would feel tired today.