In a world of approximately seven billion people, "current events" happen all the time. Sometimes they happen so swiftly it's impossible to try to take benefit of it and monetize it. But if you can stay in the money-making mind-set when you're reading or watching the news, you could in effect grab a new stream of passive income.
For example, Iran is in the news this week because they are testing their missiles. North Korea was in the news last year for doing the same thing. If you happened to run a blog about missiles or North Korea last year, you probably big boost of traffic for a couple weeks. The same should be true today if you have a website about missiles and / or Iran. But that traffic will probably be short-lived (ask the guy who runs the missile / North Korea blog), so it might be best to "capture" a current event.
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What do I mean by "capture" an event? For example, the legendary George Carlin died last month. If I was a huge fan of George Carlin's (which I am), I could register GeorgeCarlinMemorial.com (which is available at the time of this writing) and put together a bunch of videos and pictures to remember him. A cynic might say you're trying to make money from his death, but that's just cynical because you wouldn't be exploiting his death. Even though more population will be using the keyword "memorial" when they quest for George Carlin.
That is just one example. Other would be, say, the Iraq war. If you were to land the domain name IraqWar.com right when the news broke, you could probably retire today.
Even though big things happen every day, you can't ordinarily build an whole blog around that event. When you capture an event, it has to be big and you have to do it quick. Otherwise you wont get the key domain name, or that event will soon me forgotten by the world.
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