HIGHER EDUCATION BUBBLE UPDATE: “U.S. universities have grown increasingly reliant on rapid, double-percentage-point-per-annum growth in the number of students from China, who now account for 31 percent of international students in American higher education.” Plus: “I think there is a sense in the U.S. that universities have taken the Chinese student enrollment levels for granted, that they’re able to charge significant tuition and somehow this growth will continue into the future unimpeded. I just don’t believe that.”

Well, you know what they say: Something that can’t go on forever, won’t.