Panel 2: More pompous speech. Now, this could be peculiar to my family, but that kind of talk, in my family, usually indicates that the speaker's control is hanging by an extremely fragile thread, and the speech will shortly explode into tears, screaming, cursing, or all three.
Panel 3: Aaaaand just what we've been discussing amongst ourselves.
Panel 4: I quite agree. And Liz is old enough...you know the rest.
Panel 5: For once, the pun is appropriate!