The author appears to have a good understanding of the effects of QE2 on the economy. Not surprising, but the banks and capitalists are using the cheap money to invest in commodities and inflating the prices of all goods made from these commodities. Did you really think that The Fed was serving your interests? The Fed is owned by the banking industry which are in business to serve their stockholders. Oh well, maybe some of that wealth will trickle down.
And what are they doing with all this cheap money? Nothing productive from an economic standpoint. Instead of lending the money to entrepreneurs, business projects, and venture capital initiatives which actually create jobs and foster much needed economic growth, the big banks are just taking this cheap money and pouring it into commodities like crude oil, copper and grains.