I have to disagree with Kenny's assessment of the squad. We do not have two or three quality players at every position. For example, look at our wingers. Dirk Kuyt, for all his hard work, is not a quality winger. He has no pace, no trickery, and is getting on in years. Stewart Downing is ABSOLUTELY USELESS. Jordan Henderson is not a natural winger (neither is kuyt for that matter).
Also, we need one more quality striker. Suarez is great, but there isn't much behind him. Carroll hasn't been what we hoped he would be, though he's looked better as of late and I still have hope for him. Bellamy is great but he can't play every game because of his bad knees.
I've got to say I'm a bit disappointed in reading this article. Still, there is a long time to go before the summer transfer window and hopefully they'll reconsider their stance. Also, I think how much we will spend in the summer depends on whether or not we qualify for the champions league. If we can finish fourth this year, we will surely look to add some real quality players, as this squad is not good enough to compete in the Champion's league.
PS: I know there isn't much quality analysis here and a lot of it sounds like a rant, but I would really hate to see us delude ourselves into believing that the squad we currently have is good enough, when it's clearly not.