You say that, but he managed to bring Koscielny and Vermaelen in for less than 20M. Arteta is another, as is Sagna, as is Santos, as is Van Persie, albeit not recently in the latter player's case. Bargains are out there, as evidenced by the above.
I'll definitely concede that these bargains holgraterrr repercussions than they once did, due to the inflation. A 10M Vermaelen today, may have cost half the price 10 years ago. However, he's still pulling bargains out of the hat.