WSJ survey -- David Wesel

--spike in the survey for global risk recession reflects the continuing turmoil in housing market and spillover to credit market, coumpounded by disappointed employment number --two major factors economists consider are housing market and spillover to broader economy. If you are gloomy about housing market and believe its has more to go, it is hard to be optimistic. Furthermore, if believe credit market has yet to settle down or have another down leg, impacting banking lending, you will be pessimistic about economy.