It is shown that a discrepancy and incompatibility persist between basic physics and fusionliterature regarding the radiation losses from a thermonuclear plasma. Whereas the fusionliterature neglects the excitation or line radiation completely, according to basic physics it depends upon the prevailing conditions and cannot be neglected in general. Moreover, for a magnetized plasma, while the fusion-literature assumes a self-absorption or reabsorption of cyclotron or synchrotron radiation emitted by the electrons spiraling along the magnetic field, the basic physics does not allow any effective reabsorption of cyclotron or synchrotron radiation.As is demonstrated, fallacious assumptions and notions, which somehow or other crept into the fusion-literature, are responsible for such a discrepancy.In the present work, the theory is corrected. On the grounds of basic physics, a complete energy balance of magnetized and non-magnetized plasmas is presented for pulsed, stationary and self-sustaining operations by taking into account the energy release by reactions of light nuclei as well as different kinds of diffusive (conduction) and radiative (bremsstrahlung, cyclotron or synchrotron radiation and excitation radiation) energy losses. Already the energy losses by radiation make the energy balance negative. Hence, a fusion reactor ─ an energy producing device ─ seems to be beyond the realms of realization.