These debt-austerity boom bust cycles happen no matter what money you use and are impossible to control. They happen because fundamentally, when you borrow something, you're not borrowing from someone else, you're borrowing from your future using them as a facilitator. You're transferring value back in time, which you then won't have in the future when you would've had it. But in the moment you do have it, you have more than you've created. The only way to stop them is to entirely end lending, and even outlawing it wouldn't stop it, there's no way to do so.