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Last weekend, Kendrick Brinson visited Sun City, Arizona, an age-restricted community for retirees, near Phoenix. The city was built over a ghost town, in 1960, and was the first of its kind in the U.S. Brinson, who is based in Atlanta, first visited Sun City three years ago, in advance of Sun City’s fiftieth anniversary. On this, her eighth visit, she brought her iPhone, and posted a selection of her photos to The New Yorker’s Instagram feed. Click-through for a slideshow: http://nyr.kr/T619U0
(Source: newyorker.com)
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Kendrick Brinson is taking over The New Yorker’s Instagram feed this weekend, posting from Sun City, Arizona, an age-restricted city of more than forty thousand retirees. Follow @newyorkermag on Instagram for updates.
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Philip Roth Says Enough
David Remnick, who profiled Roth in 2000, on the author’s retirement from novels.
Photograph by Chris Maluszynski/Moment/Redux.
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"The concept of “retroactive retirement” is well-established. Ben Affleck retroactively retired from the cast of “Gigli,” thus restoring his bankability as a movie star. As the journalist Matt Yglesias recalled, Michael Jordan retroactively retired from his two seasons playing for the Washington Wizards, and thereby preserved his basketball legacy. The director Julie Taymor retroactively retired as director of “Spider-Man: Turn Off the Dark,” when it was an infamous Broadway flop; she then retroactively unretired when the show became a hit. (The matter is now in litigation.)"
— Is it fair to ridicule Romney for his “retroactive retirement” from Bain? Jeffrey Toobin tells you all you need to know about this well-established practice… http://nyr.kr/Pbjay3 -
Human Nature and a Volatile Stock Market
n other words, while crazy volatility may be great for traders (who live for the chance to make two per cent a day), it’s lousy for the rest of us, and for the economy as a whole. It isn’t just that volatility costs ordinary investors money. It also makes them more likely to give up on the stock market entirely: over the past three years, investors have pulled almost two hundred and fifty billion dollars out of equity funds, even though stock prices have almost doubled since the lowest point of the crash. And, while some of that money has gone into exchange-traded funds, most of it has just left the market. This flight from stocks is probably not a good thing for people’s retirement accounts—after all, in a capitalist country owning some capital is usually a smart way to make money. But it may well be a good thing for investors’ psychological well-being. In effect, they’ve decided that, in a market as volatile as this one, the only way to win the game is simply not to play
- In this week’s issue, James Surowiecki writes about market volatility: http://nyr.kr/zGq3Jr
