Can be used in any situation, and in any context, usually during an America OnlineConversation, or in the outside world. It is mostly used as another form of "oh shit", or "for true."
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.