There is evidence that house prices have already softened in many of the frothiest markets.

ECONOMIST: Betting on Bernanke | The

The results will be felt in markets for housing America's was far from the frothiest as well as junk bonds and corporate buy-outs.

ECONOMIST: The world economy

But it also reflects the fact that Softbank is in the frothiest part of a thoroughly frothy market for high-tech shares.

ECONOMIST: Is Softbank��s Internet empire as strong as it looks?

It is still the frothiest fountain of science and technology.

ECONOMIST: Schumpeter