[toomuchtodo]

You’re not wrong, inflation will eat up the accumulated capital. Like a balloon that was blown up sucking up capital from aggregate workers, and is now being deflated as it has to pay out as workers become scarce over decades. And certainly, debt will be defaulted on. I’m unaware of any debt ratings that account for population and taxpayer burden and potential risk, but am happy to be corrected.

If someone wants to model what debt will likely not be paid back due to population curves, I’m willing to pay reasonable and customary costs to publish an open model, similar to the population tool Our World In Data built and I shared in my top comment.