The thing is, it's really not just Everton that aren't signing players. Spurs and Southampton have both sold ~£35 million worth of players and only spent ~£10 million. Arsenal have only brought in Cech. Villa have spent £40 million, but they've sold just as much. Stoke are looking at a ~£10 million profit.
Of the "fiscally responsible" clubs, only Swansea and West Brom are spending (along with Everton), and even then their expenditures have been modest. Palace, Newcastle and West Ham are throwing around cash, yes, but they aren't exactly clubs whose lead I'd want to follow anywhere.
It's too early to tell if prudence is the smart play, but it's looking like a trend amongst a certain type of club.