Not to be a bastard, but hyperinflation is a very rare and distinct phenomenon, not just to be thrown around when the economy turns sour. Real hyperinflation is occurring in Zimbabwe, not Canada or the US.
It occured in Poland not that long ago, and there is a chance it will happen in other countries, if oil transactions would switch to another currency I wouldn't be surprised to see such a thing happen to the US dollar. There are some people out there that say that the Iraq war was to stop the US dollar from crashing because Saddam was going to switch to the euro for his oil transactions.
I know that's typical conspiracy nut fodder, but it may have a kernel of truth.
yes, it is rare. hyperinflation occurs in destabilized economies that have too much printed cash relative to physical assets (to oversimplify a bit).
the US govt has printed too much money and keeps going further with stimulus packages and bailouts. the dollar is strong, currently, because it is the default fiat currency of the world. at some point the US will not be able to sell more bonds or the foreign creditors will dump dollars on the market or any number of other things can happen to trigger inflation.
you don't have to agree, but i would bet that hyperinflation will hit.
I know that's typical conspiracy nut fodder, but it may have a kernel of truth.