Manchester City have spent over £100m this transfer window alone on the likes of David Silva, Yaya Toure and Mario Balotelli.
“Over the last two or three years we have seen very wealthy owners become part of football clubs and therefore go on this kamikaze effort to spend their money,” said Ferguson.
“It is amazing the amounts of money that are being bandied about in the present day game.
“Some people may think it could be dangerous. But if they have that kind of money, they are certainly using it.
“I don’t see it abating. The kind of spending we are seeing at the moment will be here for two or three years, until such time as they understand you can’t necessarily achieve all the time by spending.”