Bankrupt is official, when the courts/judgment states so; when Judged to be insolvent. An insolvent debtor is unable to satisfy any just claims made; or unable to satisfy creditors or discharge liabilities. Liabilities exceed assets. Long before the Courts get involved, the path has already been set.
1 Sam.8:1-20 details the downward spiral that leads to Bankruptcy. People become deaf, and refuse to listen or remember history. As morality goes, so does the Nation. Our Enemy is lawless, and seeking such to worship Him. His destruction has been pronounced-ours has not.
Several Books in the Word refer to the 4 hidden dynasties, or 4 little horns; these are Political, Economics, Education, and Religion. All 4 are Bankrupt right now. The point? Rev.13 the 1st. Beast[1-world-political-system] receives a "wound unto death"[deadly wound].
The 1-world-system is man-made, with much help from Satan, and his Kids. The Chaos is man-made, and intentional; This brings on their god to rule the world. Religion is the "traditions of men", and the Apostasy of leadership is underway. Politics and Religion have divided more, in the least amount of time, than anything else in history.
Dr. Carter G.Woodson, the founder of Black History Week, stated in 1933 that the Education system was designed to indoctrinate, or destroy the student. They have made the U.N. proud. Most Economies are controlled by Central Banks that are profiting Trillions from their serfs.
The world is Bankrupt, and can-Not be saved. Only choice = The Kingdom of Heaven, on earth, right now!