I had a breakfast meeting with the Greater Dania Beach Chamber of Commerce last week. The topic: economy and the media. Quite timely as the stock markets can't seem to find a bottom, and the federal government keeps zig zagging on the ''bailout'' plan. Taking equity stakes in banks is the magic bullet now, whereas two weeks ago it was buying up bad debt. What will it be tomorrow?

The news has been grim. I reviewed with the group the headlines from the past two weeks of banks, investments and confidence sinking into the sludge of bad loans, poor management and good ole fashioned greed. Mixed in were stories advising readers how to check out their bank and what to do with investments. These didn't seem to make much of an impression with this tough crowd.

While not exactly wanting to shoot the messenger, some in the group have grown weary of seeing and reading all the recent bad economic reports. Where is the good news? Where are the stories pointing out that homes are cheap now, selling at 2003 prices? Credit freeze? What credit freeze? Mortgages are

being written, but subprime lessons have been learned: You need to have a real job to qualify these days. Stocks are trading at

bargain-basement 2003 prices as well.

All valid points. All good reasons to scoop up hard and soft assets right now. I appreciate the optimism. And yet if you close your eyes and remember 2003, those prices seemed reasonable and you read headlines about them. But in 2008 fears that there may be another AIG or Lehman Brothers monster lurks and so this dominates the news. So, until someone invents a default swap for current events, we'll just have to ride this one out.

Terence Shepherd is multimedia business editor.

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