The document discusses the use of the word "wish" to express regret about present and past situations. It notes that we use wish with past tense forms like "knew", "was", and "were" to talk about present regrets. We use wish with the past perfect tense like "had known" to express regrets about the past. Similarly, "could have" followed by a past participle can indicate past regrets. The document also explains that "if only" can be used more emphatically than "I wish" followed by the same verb forms to talk about hypothetical past situations.