look up any word, like cunt:
 
1.
a statement or idea (not necessarily presented by a crackhead) that is extremely extensive in nature and ridiculous in realilty.
often preceeded by: "i believe", or "don't you think", or "whould it be a good idea to...."
(often presented under the influence of drugs)
person1: the free masons rule the world
person2: thats a crackpot theory if i ever hurd one before
by dawordspecialist June 25, 2007
 
2.
Completely insane or inane theories, often dreamed up by paranoid schizophrenics, conspiracy theorists, and ChristianConservatives.
John's ramblings and crackpot theories about UFO's were completely disregarded by his peers.
by b_Alister May 06, 2010