When someone is so drunk that they repeat themselves constantly, similarly to someone who suffers from dementia. They are blissfully forgetful, enjoying the repeated topic with the thrill of a fresh conversation every time. A symptom of being too drunk to hold a halfway effective conversation.
Joe: "I almost got arrested tonight man, the cop saw me stumbling around but he was totally cool and let me go"
Tom: "That's lucky man, you do seem pretty intoxicated for being in public"
Joe: "Yea man, I was super close to going to jail tonight, the cop was really cool though, he saw me stumbling and let me go"
Tom: "yea dude, that's lucky, that's what you were saying earlier"
Joe: "I was so drunk earlier I almost went to jail, the cop was real cool tho"
Tom: "that's cool man"
Bob: "Joe is wasted man!"
Tom: "I know, he kept telling me the same story of his night over and over and forgetting. He has a solid case of alcozheimers tonight"