Word: teche
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Once upon a time in March, when the NASDAQ hit its record high of 5048 points, tech investors were seen all over Wall Street's bars and restaurants, hoisting microbrews and declaring they couldn't be bothered with the insipid Fed-watching that had gripped their Old Economy brethren ever since "irrational exuberance." We're betting on the future, they said, and the future is always bright for geeks. Now, two months and a staggering 37 percent later, NASDAQ is the wisp in the Fed's wind. Tuesday, week-old worries about another interest rate raise in the wake...
...What's going on? "In March and April, interest rates were going up very gradually, and tech investors figured Greenspan would taper off, because this was an election year," says TIME senior economics reporter Bernard Baumohl. "Now, the inflation picture is getting worse, and Greenspan is getting serious. And they're feeling the effects of higher interest rates...
...BATTLEFIELD High-tech weaponry and nanotechnology will make the future warrior more lethal and better protected. Swooping into enemy territory, he can shoot at targets two miles (3km) away an remain undetected...
...HIGH-TECH COMOUFLAGE Smart materials will instantly change uniform patterns and colors. A special system will project 360[degree] false images, making the soldier invisible...
...door and listen as your desktop virtual assistant reads aloud your schedule for the day. The temperature and lighting will adjust automatically to your preferences. Though we probably won't attain the mythical paperless office, there will likely be less of the messy stuff lying about, thanks to high-tech, rewritable parchment. And forget about typing: sophisticated voice recognition will let you tell your PC what to do (though all that yakking could just as easily make you hoarse...