To construct, fabricate or improvise "new information" so as to appear knowledgeable.
Ed: Any news on the tornado?
Jed: Naw, the power's still out
Ed: Dj'ou ask Ned?
Jed: He don't know nothin. He just WolfBlitzered a bunch of conjecture about death tolls and injuries.
Ed: Ned's always tryin to look like a knowitall.