The interplay of content and context is observable in a moment to moment manner as propositional content unfolds. The current contribution illustrates this through data from real-time language comprehension indicating that propositional content is not computed in isolation but relies in important ways on context during every step of the computation of meaning. The relevant notion of context that we have to adopt includes all aspects of possible worlds and draws on a variety of knowledge representations, which in a first (...) processing phase serve to generate expectations for upcoming words. In a second phase, the discourse representation is assessed and if necessary updated by means of inferential reasoning and enrichment to reflect the speaker’s intended meaning. (shrink)