As for "memories of an event as it happens", let me present the Taoist viewpoint of things...I'll be brief...
When we die, our "spirit", or energy, is the only thing remaining. The organic container we call our "body" has ceased to serve us, but the energy goes on, if the theory is correct that energy can be neither created nor destroyed, only altered.
This energy zips around a bit, one little piece attaching to one person, one to a newborn, perhaps...until all of that energy is accounted for.
Now within those energy bits are possibly encoded "memories" of certain events; we, the new landlords of that energy, suddenly smack our heads and say, "Hey! I KNEW this place (this event, this person) before, but I don't know HOW!"
This does tie into the time question, in the sense that nothing new will ever appear in our lives again - only re-hashes of last seasons episodes.
Therefore, Taoists believe that all of life - time included - is circular and never-ending.