Of course there is good English talent out there. Unfortunately, they're all at rival clubs. That, and, there's no point just buying English players for the sake of it.
I'd like Barkley at United, but they'd be nowhere to put him. We need a winger, though, and at the moment, there's not really any English wingers worth buying.
Sterling - Very good. Would have him at United but he's at City
Lallana - Again, very good. At Liverpool
Lingard - Got him
Rashford - Got him
Welbeck - Would have him back at United. Actually, I reckon he could do the 'Perisic' role Jose is looking for. Up and down the left wing. Obviously he's at Arsenal, though.
Oxlade-Chamberlain - Much better as a centre midfielder, in my opinion. Average as a winger.
Walcott - Not good enough. Does get his fair share of goals, though.
Up and coming talents:
Redmond - Good player. Needs to progress further, but someone we could look at
Demari Gray - Same as Redmond. Showing potential, but needs to progress
Roberts - At City, so no point. However, showing tremendous promise
Lookman - Fantastic in the U20's world cup. Needs more games, but someone worth looking at.
Ojo - Showing promise. At Liverpool, though.
In terms of the England team, I don't think we're any worse off than the other countries. We've got some really good talents, in my opinion.