Hi Avangi I know I should not have butted in but it's too late to regret it now! Unlike Jim, I'm not at all familiar with transformational grammar even though I do remember reading an introduction to it in the 1960s. Besides, grammatical analysis differs from country to country quite a lot - and that's the reason why I probably won't be able to impart to this discussion anything you might find useful.
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AvangiIs there a more "traditional" view?That is the traditional view! "Two clauses" does not have to mean "two independent clauses", you know! The subordinate clause is embedded within the main clause.
AvangiCan you say the second clause is the object of the first verb?Yes. (that) she's beautiful is
everlastinghope "he died" plays the role of an adjective.You have misunderstood. (that) he died is the (noun (clause)) complement of the adjective sure.