Does anyone else think that a system dependent on constantly increasing credit supply is foolish? The system is wholly and totally dependent on more bank loans

Does anyone else think that a system dependent on constantly increasing credit supply is foolish? The system is wholly and totally dependent on more bank loans to create all the interest money. This is bound to create booms and busts since the number of entities that can take more debt is shrinking (boomers aging out, fewer kids, fewer immigrants). Maybe alternative ways of money creation should be explored. For example, UBI or banks taking equity as assets on their balance sheet instead of debt.