Dialogue
A: Dad, I’d like to borrow some money.
B: Sure, Johnny, how much do you need? five bucks?
A: Come on, Dad, I need thirty thousand. I wanna get into the market. You know, I’m tired of hearing all this news about the economic downturn, the inevitable recession, people stuffing their money in their mattresses. I look at this as an opportunity. This is a chance for me to get a jump start on building my nest egg.
B: I don’t know about that; with all the uncertainty in the markets right now, it would be a very unwise decision to invest. I don’t know if you’re aware son, but there has been a lot of turmoil in the markets recently. There have already been half a million layoffs in the last few months, and we have no idea how the proposed stimulus package will impact the economy. There’s just too much instability. I wouldn’t feel comfortable investing in this climate.
A: But look at it this way, every challenge is an opportunity. And anyway, I’m not talking about investing in the domestic market. There are emerging markets that promise great returns. Look at China, for example; they have 1.4 billion people, half a billion of whom have recently entered the middle class. Here alone, the aggregate demand for consumer goods represents an amazing wealth generating opportunity.
B: Come on, son, you’re looking at this too naively. the Chinese market has exhibited a great deal of instability, and their currency has been devalued by almost a whole percentage point. A: Fine, then! If that’s the way you feel, so be it. But you’re losing out on a great opportunity here. I’m going to go hit up Mum for the cash.
Explain
Key Vocabulary
inevitable — /ɪnˈevɪtəbl/ Adjective unavoidable
nest egg — Noun (singular) money that is saved to pay for something in the future, usually a house, or retirement
turmoil — /ˈtɜːrmɔɪl/ Noun (noncount) a state of confusion, disorder, disturbance
stimulus package — /ˈstɪmjələs ˈpækɪdʒ/ Phrase amount of money the government uses to improve the economy
Noun (noncount) state of not being stable, being likely to change
emerging market — Noun (plural) nations undergoing quick industrialization
Adjective combined
devalue — /ˌdiːˈvæljuː/ Verb reduced in value
hit up —Verb ask for money
Example
turmoil
Voice: Example one.
A: With the civil war, a famine and inflation the country has been in turmoil for ten years.
Voice: Example two.
B: There‘s been a lot of turmoil in my life recently: I’ve moved to new city, I‘ve change my
job, I broke up with my girlfriend.
Voice: Example three.
C: The devaluation of the dollar caused the great deal of turmoil in the markets.
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inevitable=unavoidable.
Voice: Example one.
A: Jason knew he was going to get laid off, but he was trying to delay the inevitable.
Voice: Example two.
B: As a new manager, it‘s inevitable that you’re going to make mistakes.
Voice: Example three.
C: Inevitably, we’ll all die at the end of our lives.
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hit up.
Voice: Example one.
A: I‘m gonna hit up the boss for a raise.
Voice: Example two.
B: Are you trying to hit me up for money?
Voice: Example three.
C: Oh, I don’t have any cash. Have you tried hitting up Sophie? She‘s rich.
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