is a term used to describe a mood or feeling. Typically the term involves feeling unmotivated and generally down hence the blagh portion. The latter portion of the word, fergrads, represents an extreme surge in hateful attitudes towards minority groups specifically Jews and inner city blacks.
Therefore, Blaghfergrads is associated with an unnatural level of fatigue yet sudden rise in anti-semetic and racist actions.
"Yo guys, I'm feeling so Blaghfergrads today..." - Sam
"I better not take that trip to Israel as I've been way too Blaghfergrads lately" - Mark