For an understanding of just how weak the business press's understanding of economic fundamentals is, look no further than Paul Wiseman's brief "coverage" at the Associated Press Wednesday of the Federal Reserve's awful Industrial Production.

The Fed reported yesterday that industrial production fell by 0.6 percent in November on top of a revised -0.4 percent (down from -0.2 percent) in October. None of the three major industrial components turned in a positive November result (Manufacturing, flat; Mining, -1.1 percent; Utilities, -4.3 percent). Additionally, industrial production in the past 12 months has fallen by 1.2 percent, an occurrence which has historically been a recessionary red flag. But that's okay, Wiseman reassured readers, because "the American economy is relatively healthy thanks to solid consumer spending."

For a change, Martin Crutsinger's coverage at the Associated Press of the federal government's November Monthly Treasury Statement wasn't completely full of rose-colored baloney.

Crutsinger managed to note how auto-pilot entitlement programs like Social Security and Medicare are bankrupting the country (not in those words, of course). That said, he somehow thought that highlighting a rare and small increase in year-over-year defense spending was worthwhile, while ignoring several other larger percentage increases in other areas. Most importantly, he failed to note that the national debt has increased by far more than Uncle Sam's reported deficits. Excerpts follow the jump (bolds and numbered tags are mine):

On Thursday, NBC’s Today seized on a cabdriver in Toronto attacking the car of an Uber driver as a chance to attack the entrepreneurial car service, with co-host Savannah Guthrie proclaiming: “A cabbie confronts an Uber driver and gets dragged 60 feet down the street, as the battle between the car service app and traditional taxis gets ugly.”

The matter of renewable “energy” sources is certain to be part of Paris summit negotiations, since they are an essential part of the goal of lowering carbon emissions. Ahead of the Paris meeting, one British Labor Party politician argued for a “zero” emissions target, rather than already discussed severe 80-percent cuts.

However, the proponents of such cuts rarely acknowledge they are an unrealistic, maybe even impossible goal. And the liberal news media refuse to expose the truth. In contrast to the news coverage of fossil fuels and nuclear power, reporting on  “renewable” sources like wind and solar power is often positive.

Certain types of energy are certain targets for the 190 governments’ representatives gathering in Paris this week  and from green activists surrounding the melee.

The goal of the U.N. climate conference in Paris, known as COP21, is to get an international agreement on reducing carbon emissions, out of fear that climate change is a global threat. But the agenda of some developing nations to make rich nations like the U.S. pay them billions of dollars to fund a transition to “clean energy” reveals one reason clean energy goals aren’t realistic.