Are Programmers Headed Toward Another Bursting Bubble?

A friend of mine recently posed a question that I’ve heard many times in varying forms and forums:

“Do you think IT and some lower-level programming jobs are going to go the way of the dodo? Seems a bit like a massive job bubble that’s gonna burst. It’s my opinion that one of the only things keeping tech and lower-level computer science-related jobs “prestigious” and well-paid is ridiculous industry jargon and public ignorance about computers, which are both going to go away in the next 10 years. […]”