Hi, brakel2. The links on the profile page would be considered "outbound" links if, for example, what they lead to is something like a website or blog that you (or anyone else) has outside of HubPages.
Another kind of link would be the kind that you may put on your own website or blog and that would lead to your profile page or one of your Hubs. That would be an "inbound" link. To get one of those you (or the person's whose outside it is) would create that kind of link on the other site.
To do something like write a paragraph on your profile page and have "in-text" links, all you need to do is go to "edit profile" and select the word or words you want linked to something else (like one on your Hubs). "Select"/"highlight" the word(s) with your mouse and then right click to select "copy".
Across the top of the edit box you'll see a blue icon that shows both a link and what looks like the same thing only broken. Use the one that doesn't look broken. Click on that, and you'll see a line. You'll need to paste in the URL of the page you want to link to.
On HubPages, I don't think the line already has "http://" so you just paste. On other sites there is often already an "http;//", so you either need not to copy that "http://" (or else you can just clear that from the line before you paste it in). You just don't want to "http;//'s".
and that's all you do. I hope this is helpful, but if there's anything I left out (or other questions) feel free to e.mail me.