No, because 100 percent of the Fed inspired monetary inflation and credit expansion originates as a new supply of credit. But our time preferences cannot be zero. We must consume something sooner instead of later. Otherwise we perish.
Although the bust cannot be avoided, it can be mitigated by people raising their time preferences to provide more saving which can be used in the process of reallocation of resources and reinvestment of capital. Increasing saving and holding more money are common behaviors during busts.
