I do agree that hyperinflation is on the way..The U.S dollar is already sinking ( I now call the greenback,THE OBOMA DOLLAR) which in turn will cause oil to rise.IMO recent oil price increases have been due to a weakening obama dollar and not increased demand. This will last until the obama dollar is replaced as the worlds reserve currency ( China and Russia already making the moves to do this) and standard for oil prices.

One has only to remember less than a year in order to recall when the run up in oil to $147.00 caused the crash of economies on a world wide scale

On this point is strongly disagree,,The high Oil prices may have started a bit of inflationary pressure ( food shortages were caused by food being diverted to ethanol production), but the world economic collapse was caused by the U.S housing bubble burst. This started the Domino effect of Fanny Mae and Freddie Mac collapsing and the financial and insurance collapses leading to the credit crunch and market panic..Since ALL Western countries participated in this huge scam everyone went down..Most commentators have concluded that ground zero was the housing bubble collapse