When a person of Jewish decent makes an over the top exaggeration. This is typically done when he is wrong and backed into a corner during an argument usually regarding the economy, politics, or anything having to do with finance. Feel free to beat the Jew after the jewllucination is over. Often a swift kick to the shin is the best option.
David: The jew is trying to trick me with absurd comments about the banking crisis
Matt: Tell him to stop jewllucinating
The Jew: Guys trust me i know what I'm talking about, I've been studying Bank of Americas stock over the past 20 years
David: Your 18 years old that not possible
The Jew: Thats not what i meant, while looking at the stock drop over the recent years blah blah blah hebrew blah menorah blah
Matt: (swift kick to right shin)
The Jew: WHAT THE HELL
David: That shut his kosher mouth up
Matt: Try and pull that Jewllucinate crap again and see what happens
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