(h/t to BG for this one)

Can haz a relief rally!

Bernanke spoke today on prospects for recovery, with all the expected language about downside risks, unemployment and the prospect of a full recovery taking years, in addition to the prospects of bank nationalization. There seems to be some selective hearing going on, though. Check out “Bernanke eyes possible recovery despite strains“, where the headline writer clings desperately to this statement:

“If actions taken by the administration, the Congress, and the Federal Reserve are successful in restoring some measure of financial stability — and only if that is the case, in my view — there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery.”

Is that what it takes to get the S&P to skip through a daisy field and go up 3%? If so, can he keep saying stuff like this over and over again? I think it’s mostly his negative talk about nationalization that let the markets take a little bit of a breather, so maybe he could say that every day for a month or so, please and thanks.