This phrase is code for marajuana. Teenagers in japan have named it after a kid from an ancient japanese folk-tale. Penn Chan would act as though he was high all the time. The kids saw it to be a fitting code name so the phrase is now commonly used in asia and has recently spread to the states.
Someone who is addicted to obtaining money and building wealth. A money addict and fanatic. Breadheads often work more than one full-time job, and some even participate in illicit activities to "obtain the bread".
I don't buy the schmegegge about Morty sleeping with Moira.
His version of the story was pure schmegegge.
The whole schmegegge was made up to get Liz a little bit of attention.