HIGHER EDUCATION BUBBLE UPDATE: Reader John Farmer writes:

I wonder if the sudden and severe economic troubles in China will affect the higher ed bubble in the USA. It appears that many U.S. universities are dependent on a large swath of students from China paying full freight. If the volume of such lucrative students drops off substantially, a lot of U.S. university budgets are going to take a hit. This seems to be especially so for expensive private schools below the top tier.

That seems likely.