The Canadian economy isn't doing so well, but I still think Royal Bank of Canada is a buy right now. This is the biggest bank, in the safest financial system in the world, in an economy who's government debt to GDP is the lowest of all OECD countries. I just like the Canadian philospohy on how to run an economy; growth may be slower in Canada and unemployment a bit higher, but the system itself is built on a solid foundation.
With that in mind, I don't think Canada's recession is going to be that serious. The lower Canadian dollar should boost manufacturing and tourism, and lower gas prices have to help the Canadian consumer.
So, I added shares of Royal to my personal IRA account.