Russia has a "smaller" GDP than California, but check the price of electricity in western Europe today. Few industries in Germany can survive energy prices tripling. It won't be much of a war of attrition with "NATO" if a bunch of NATO members drop out and pursue a separate peace.
Every country borrows billions a year nowadays. No country lives within their means, we’re all transferring future power to China and Gulf countries through the means of letting them produce for us on credit.
Which every politician profits from. “The state will pay!” as said Macron, borrowing an additional 600bn until 2048.
If all the countries are borrowing from China and Gulf countries, then they don't really have to repay it. The combined military of NATO is more than enough to resist China and the Gulf's ability to recoup a default. Of course it would require an alternative manufacturing center or China would just repo all that shit.
