Federal Reserve Chairman Ben Bernanke gave a speech in London Tuesday, offering a modest endorsement of Barack Obama’s economic stimulus proposals — but with a caveat.

In his view, the president-elect’s fiscal plans are, “unlikely to promote a lasting recovery unless they are accompanied by strong measures to further stabilize and strengthen the financial system.” Translation: we will need more financial bailouts in order for Obama’s stimulus plan to work.

So, if as Bernanke says, our recession-hit economy can’t recover by stimulus alone, what does the Fed chair think is the remedy for our economic problems? Here’s what Bernanke has in mind:

1) Give more money to banks and other financial institutions
Bernanke thinks the federal government should inject more capital into our nation’s troubled financial sector to get more credit flowing in the system. That means more bailouts in the future… and even more debt for the government.

2) The government could have to buy up those toxic assets off of the banks’ balance sheets
This was the original intention behind the Treasury’s $700 billion financial sector bailout package: the government would buy up all those mortgage-backed securities and credit default swaps tied to defaulting subprime mortgages from struggling banks. The plan was that the government would then sit on these assets until the housing market turned around. The bailout money was instead used to invest directly in firms, but asset-buying seems to be back on the table.

3) Keep the Fed’s key interest rate near zero for a while
The Fed lowered the Federal Funds rate to the lowest level on record in December in an attempt to free up credit. Bernanke thinks lending money for practically nothing is the only immediate way to spur banks and other lenders into loaning out their money to consumers and businesses.

The very vague measures that Bernanke outlines above really tell us only one thing: that we are far from a full economic recovery. No matter how good Obama’s economic stimulus package turns out to be, the government will need to continue to use all of the tools at its disposal to work toward a long-term solution. That’s going to translate into more legislation and even more government debt. But, as the saying goes, you gotta crack a few eggs to make an omelet. But, man, this is getting to be one expensive breakfast.

Ali Velshi is CNN’s chief business correspondent and author of the new book “Gimme My Money Back: Your Guide to Beating the Financial Crisis,” published by Sterling & Ross. Read excerpts from the book.