Schwasted, adj: The ultimate in the four stages of drunkenness.
First you get buzzed, then you get drunk, then you are wasted, and finally you get schwasted, at which point you end up in deep thought, alone, in your undies.
To get so drunk and shitfaced that you don't give a fuck or a shit about what is going on. The point past being lit. A mixture of booze, duck farts, weed, cocaine, and meth will get you feeling schwarked