Engineers are just middle class who didn't get screwed. The real bubble is in the medical industry and Wall Street and it's not gonna pop any time soon.
Some would say that the medical industry isn't seeing a bubble, as much of the inflation in prices and salaries is going straight to the insurance companies - so the real bubble is in Wall Street and Wall Street.
Yes the cost of health care is extremely inflated. However, it is not just insurance companies who benefit from this trend. Doctors' base salary is 189k while investment bank associates (2 years experience) get paid around that with salary and bonus. Most of the doctors I know are millionaires.
If the argument that medical spending cannot continue to keep rising at present rates, then I would argue its a bubble. I also do not believe 'going straight to insurance companies'. Their profit margins are usually around 5% (http://finance.yahoo.com/q/ks?s=UNH+Key+Statistics)
