As commented on elsewhere in this thread, the figures quoted are inaccurate, so these aren't the facts.
That said, we've still spent a lot of money, but that doesn't mean Fergie is lying. We can't compete with Chelsea in the transfer market, that is a fact. And I guess it depends how you define 'developing youth'. Just because a player hasn't been at the club since he was 9, doesn't mean we aren't developing youth - or at least attempting to. Is selling David Beckham for 25mil, replacing him with a 19 year old for half that and turning him in to European footballer of the year classed as developing youth? I'd say it is. A few years ago we bought Veron when he was considered one of the best players in the world, that was our transfer policy at the time. We couldn't afford to go and buy Ronaldo now, Chelsea could.
At the moment we can afford to spend big bucks on established players like Berbatov by deferring payments on loans, but that won't last for ever, so it's hoped that the young players that have been brought in will be the big stars in a few years time - the Da Silva bros, Possebon, Evans, Anderson, Nani, Tosic, Ljajic, wellbeck, etc, along with the like of Rooney & Ronaldo. If they all progress as Fergie hopes, United wouldn't be able to afford to buy those players in their prime, so in that respect, what he's said is a fact. Factor in to that players like Pique & Rossi that didn't want to wait for their chance, and it's easy to see what he is aiming for. Of course, there's no guarantee that this will be a success, and there's a strong argument to suggest it won't be (he's not got a great track record in this market) so by all means, in 4 or 5 years time, if it all goes tits up judge Fergie on his success or failure, but I'm not sure you can accuse of deliberately lying - not on this one anyway ;-)
N.B. I do realise that the large majority of you couldn't give a flying fuck, and that there are arguments against most of the points I've made, but somebody did invite a rag response to this :-)
