"Psst, have you heard? They're planning an election... The word is that Labour's getting loads of money from its donors... Their ad agency is buying up poster spaces and Peter Mandelson's been seen plotting with Charlie Whelan..."
Yes, Westminster has got election fever again, and at last night's Tory Christmas drinks party the fever was particularly hot.
The first of the claims made above is certainly true but the second two are hotly denied. So why the excitement? Well, this is how the argument goes.
First, things can only get worse. After all, the chancellor and Tessa Jowell let the cat out of the bag yesterday when they said the recession would be deeper here than elsewhere.
Secondly, Labour have got the Tories where they want them, portraying them as the "do-nothing nasty" party.
Thirdly, Obama comes to power in January. He is, of course, the world's biggest celebrity, a latter day saint and a supporter of Gordon's economic policies.
The theory goes that what Gordon needs to do is surf the wave of Obamamania, announce some more plans to save the world, hold an emergency recession-beating budget and then invite the country to choose between his approach and that of David Cameron.
The only problem with this theory that I can find is a small matter that Labour are still behind in the latest polls. Yes, they've made progress, although that has stalled in the past couple of weeks but they are still behind.
So the prime minister would have to consider, in January let's say, whether he wishes to call an election which his opponents would present as unnecessary, opportunistic and a distraction from helping people in these difficult times, or whether, as I still suspect, he'll have no choice but to play it long.
Let's be clear though. It makes sense for his advisors to give him the choice in January if they can. I have no doubt at all that they're doing all they can to make it possible to run a winning election campaign then. I simply doubt that it is.
What's more, it makes sense for David Cameron to talk up the possibility, partly as a way of making an election less likely, and partly as a way to look like a strong and decisive leader. This is precisely what he did last time there was election fever.
Update, 12:00: David Cameron's news conference this morning could have come with the slogan "We really aren't the party of the rich". The day after calling for a day of reckoning for bankers who drove us into debt, he condemned the government's "shameful... macho posturing exercise" in threatening lone parents of pre-school children with sanctions if they don't take part in compulsorary back to work schemes.