Bankrupts

The economy is falling apart because of stores going bankrupt and banks also. Most adults know this, but children? Most children do not know because no one tells them. So I'm going to tell you children but adults you already know this. A bankrupt happens when not enough people go to a store. So the store doesn't make that much money. So the problem is that the store owner needs to pay for everything[products, A.C.,employees,and e.t.c.]. Then the store does not have enough money. Now you might be asking,"But what causes customers to not buy products?"The answer is TAXES. PEOPLE ARE GETTING TAXED MORE AND SO THEY WANT TO SAVE MONEY. So they stop spending that much money and stores lose money. And the store closes down.
There is another type of bankrupt. It's the one about banks. When people loan money they take money from a bank because they want a house but they have to pay the bank back per a month, the money given to the bank is called mortgage. And the person also haves to give some extra money because the bank wants to earn money. Some banks failed to check the persons background and how much money they earn. So when the person fails to pay back the bank the bank takes the house. So say a person uses a loan from the bank to pay for a $500,000 house. HE fails to pay the mortgage and the bank takes the house but the house is only $300,000. So the bank loses money. And it also closes down.
There are people who try to save stores and banks. Some succeeded and others failed. But I won't be getting into that now.