The two inequalities can be rewritten as
[tex]\begin{cases}y<-4x+2\\y>-2\end{cases}[/tex]
The solution is composed by every point below the graph of the line [tex]y=-4x+2[/tex], and above the horizontal line [tex]y=-2[/tex]
To draw the line [tex]y=-4x+2[/tex] we can build a little table (only 2 points are required):
[tex]\begin{array}{c|c}x&y\\0&2\\1&-2\end{array}[/tex]
So, if you draw the points (0,2) and (1, -2) and connect them, you'll have your line.
To draw the line [tex]y=-2[/tex], simply pick any point with y coordinate -2, for example (0, -2), and draw a horizontal line.
Choose the above/below areas as specified above to solve the system.