2VIP Class Notes (Li)

Vocabulary

debt collector – the person who chases people for money

debtors – the people who owe money

aggravate – make a situation worse/serious

dot com bubble – financial crisis in the 200s

flee – run away

barter – to trade goods by exchanging

fraud – a crime which involves cheating others

embezzle – steal money from an organisation

inmates – people in prison

Grammar

flee -> fled

He go to others house and ask for debt.

He goes to other people’s houses to pay them a visit.

I think people want to buy more. They want to improve their living standards, so they will borrow more.

I think people want to buy more because they want to improve their living standards, so they will borrow more.

People borrowed money and the stock market collapsed.

It is first very rich, but it falls very fast.

It was very rich at first but its economy went through a recession/its economy plummeted.

People borrowed a lot of money and the government printed a lot of money/pumped more money in to the market.

The price level of the market increased, so the price of the good expensive.

Prices increased because it costs more to buy the same goods.

It is worth less. You pay more (money) to buy.

You can use other money to purchase things, like you can use dollars for the exchange.

You can use other currencies to purchase things, like you can use dollars for trade.

Her husband cannot work and just she can work. But her husband also has a lot of debt.

Her husband could not work, which left her being the sole income earner/ the only breadwinner. And, her husband also had a lot of debt.

White people look down on black people. A lot of blacks cannot get loans compared to whites.

Pronunciation

debt – det