How much of the concepts conveyed in natural language is RDF/OWL able to represent? I'm still learning RDF and other semantic technologies, but as I currently understand it, information is typically represented as triples of the form (subject,predicate,object). So I can imagine how the sentence "Bob has a hat" might be represented. However, how would you represent a more complicated sentence like "Bob, over on 42nd street, will have a job at the Mall after the owner approves"? Are there conventions for tags representing nouns/verbs/ownership/causality/tense/etc?
Note, I'm not asking how to automatically convert arbitrary natural language text to RDF (as this currently appears impossible). I'm just trying to understand how RDF might be used to represent the same information that natural language represents.