And our dullest national trait -- common sense -- is singled out by influential Newsweek editor and columnist Fareed Zakaria as "the genius of the Canadians."

Zakaria writes Canada is in good shape to withstand the recession because it did not follow the U.S. and Europe, which loosened regulations on financial industries over the past 15 years.

"Canadian banks are typically leveraged at 18 to 1 -- compared with U.S. banks at 26 to 1, and European banks at a frightening 61 to 1," he writes in a column.

"Canada has done more than survive this financial crisis. The country is positively thriving in it. Canadian banks are well capitalized and poised to take advantage of opportunities that American and European banks cannot seize."

Canada has been protected from the worst of this crisis because its housing prices have not fluctuated as wildly as those in the United States, he notes.

"Home prices are down 25 per cent in the United States, but only half as much in Canada. Why? Well, the Canadian tax code does not provide the massive incentive for overconsumption that the U.S. code does: interest on your mortgage isn't deductible up north.

"Ah, but you've heard American politicians wax eloquent on the need for these expensive programs -- interest deductibility alone costs the federal government $100 billion a year -- because they allow the average Joe to fulfill the American Dream of owning a home. Sixty-eight per cent of Americans own their own homes. And the rate of Canadian homeownership? It's 68.4 per cent."

Zakaria suggests Canada is well positioned to take advantage of the global downturn.

"Guess which country, alone in the industrialized world, has not faced a single bank failure, calls for bailouts or government intervention in the financial or mortgage sectors," he gushes. "Yup, it's Canada. In 2008, the World Economic Forum ranked Canada's banking system the healthiest in the world. America's ranked 40th, Britain's 44th."

"Canada has been remarkably responsible over the past decade or so. It has had 12 years of budget surpluses, and can now spend money to fuel a recovery from a strong position."