Ooh - that was easy:
The word bubble is an overstatement — it is hard to believe that the legal profession will end in the sort of high-speed implosion that subprime mortgages did.
The biggest problem with The Lawyer Bubble is not the warning it is sounding but its title; unlike tulips and other speculative bubbles in the past, lawyers will always be a necessity not a fad.
Ah, yes: the "they'll always be a need for lawyers" argument. You should NOT be talking about "bubbles" (Matt Leichter, you asshole!) because lawyers are necessary to a free and democratic society. France, Japan, Norway - they all have HORDES of lawyers, just like us. And lawyers are far more necessary and enduring than the last few frivolous items people used to create bubbles, like real estate and computer technology and uranium. Those are all more like tulips than law degrees.
Obviously, given that it's such a cemented necessity for legal work, it's an excellent time to buy the credentials to do legal work. It's decidedly NOT a "bubble," so it's not like there's a bad time to buy. Do it now, kids. You haven't seen deals this good since your Aunt Annie nabbed that Coral Gables condo back in '06 for her 401k.