As my colleague here at Bleacher Report, Doug Rush, points out, there may be moves to be made in August, but those are generally for "lesser" players—more expensive players in terms of salary or players teams simply want to see if they can get anyone to bite on (Ted Lilly last August for example).
What does all this mean for the New York Yankees and their fans for the rest of the 2011 season? Well, it means there are still huge question marks in the pitching staff. When the Yankees make the playoffs, they will have a legitimate "ace" in CC Sabathia, but after that it's anyone's guess. Who will be the No. 2 and No. 3 starters?
Right now it looks like AJ Burnett is going to be the No. 2, with No. 3 coming down to a battle between Bartolo Colon, Freddy Garcia and Ivan Nova. My thoughts are it will be Nova, simply because of his age and the fact that he's not pitching too badly (and the Yankees seem to win when he pitches).
While that scenario is scary, you have to remember that the Boston Red Sox also have question marks in their pitching staff; so that should calm everyone's nerves a little. The Yankees still have one of the best offenses in baseball and while "pitching wins championships," offense can still win games.
The real benefit from the quiet deadline will not be seen this season, but in the seasons to come. The Yankees did not give up any prized pitching prospects such as Manny Banuelos or Dellin Betances. This is key because the Yankees haven't had a successful homegrown pitcher since Andy Pettitte, and hopefully one or more of the pitching prospects will finally live up to the hype.
Also, while Jesus Monterro is in a tough spot with no real position on the Yankees' MLB roster, I didn't want to see his potentially huge bat go elsewhere (like what happened with Fred McGriff). He may still develop into a catcher at the MLB level, but more than likely he will become a DH or platoon first baseman or outfielder.
So, while Yankees fans probably woke up in a panic this morning, they have to ask themselves one question: Would you rather win the World Series this year but fail for the next decade due to all the prospects traded away, or would you rather lose out this year but potentially win multiple World Series in the next decade because the prospects actually pan out?
I would rather wait and see what the next decade will bring instead of mortgaging the future for a possible World Series this year. Sometimes the best move is the one that is never made.