The mess of nuclear deal was/is clearly avoidable. Here are a few things to remember- 1. Even if nuclear deal goes through, not a sinlge MW of power is going to be produced by new nuclear plants for the next 10 years. Most likely, zero power would be added. 2. Solving energy problems with Nulcear plants is a myth. It is not going to happen otherwise by this time, USA would have erected many plants and solved their own energy porblems. No new plant has come up in USA in the last 30 years and none will be built for the foreseeable future. 2. India and US are all already cooperating on many issues where the goals are common. This nuclear deal creates doubts in a vast majority of Indians about American intent. This will weaken the cooperation. 4. After the nuclear deal is signed all the problems that India faces would be blamed on USA. This defeats the very purpose of the India-US deal. 5. Bush government is dysfunctional. America is sitting on a precipice and can go USSR way. Trillions of dollars of debt is unpaid and hundreds of banks are going to be bankrup soon. 6. Indian financial system is no better. Stock market has turned into a casino since the foreign institutional investors have been allowed to short the stocks. If this continues for a few more weeks, the stock market could crash big time--say hello sensex 4000. If I had money in the Indian market, I would be very afraid and pull all my money out and buy some gold and agriculture land.
