(Pronounced "paam-ll-tee") Acronym for "Peace, and much love to ya," a phrase frequently used by hip-hop artist Lupe Fiasco. Fiasco uses this phrase, supposedly coined by his grandmother, at the end of every concert. The word "pamlty" is a shortened version of the phrase that can be used in casual meetings, usually at the end of a conversation.
A Shackteau is a humble, weather-beaten, structurally questionable shelter located in a spectacular or highly coveted place—Wales, Jackson Hole, Sun Valley, Crested Butte, coastal Maine, the Alps—where the building itself may be worth almost nothing, but the dirt, view, access, and mythology make it absurdly valuable.
In use:
Shackteâu - We thought it was an abandoned shed until the realtor called it a rare alpine Shackteâu with unobstructed views and listed it for $2 million.