By hyperbolic, do you mean incorrect?
The problem with using the word literally in that way, is you're not simply reappropriating a word for another use, you're actually using it to mean the complete opposite of what is intended.

"My mum was so angry, she literally killed me!"

No... she figuratively killed you. 'Killed' here is a figure of speech, and the literal meaning of it is completely incorrect.

Now, I have no doubt that the Economist hand-waves its way to forgiving people for using language idiotically, but that isn't going to stop people who know what the hell they're talking about from being dismissive of those mediocre plebs who use these words incorrectly.
(eViLegion Chief Commissioner of the Scottish Lunacy Board, Fri 30 May 2014, 17:03, 1 reply)

for FUCKS sake.
There was so much beer in the stock room, we could not have drunk it all. Hence - LITERALLY limitless.
Although, obviously it WAS limited, as a ratio - it was technically limitless.
(SigourneysBeaver took off and nuked the entire site from orbit on, Fri 30 May 2014, 17:45, closed)

Just because your stomach capacity was lower than the limit on the quantity of beer present, doesn't mean it didn't have one.
But the point has been made now, so I'll fuck off.
(eViLegion Chief Commissioner of the Scottish Lunacy Board, Fri 30 May 2014, 17:56, closed)

I just had another one.
Beer, that is. Fuck it's friday!!!
(SigourneysBeaver took off and nuked the entire site from orbit on, Fri 30 May 2014, 17:59, closed)

I think this is the thing where using 'Literally'
is incorrect if you didn't write it down at the time.
( Rotating Wobbly Hat That's not a banana. THIS is a banana., Fri 30 May 2014, 21:22, closed)