Baggy Pants is a fad in the wigger community where they were cloths a couple of sizes bigger. This actually started in the early 1980's by african-american shoplifters to allow more room to store stolen items in. The act of baggy pants was "copied" by the wigger community without knowing the meaning.
Strangly enough, african-americangang members do not wear them during times of street fights. Having your pants at your knees limits mobility.

A cultural and aesthetic mind-state that prioritizes making money, even as an “underground” or “radical” creator. The work isn’t made for money, but it’s the money that matters the most.

an archaic term meaning to either a) leave ones computer terminal unlocked and unattended, or b) let a usenet group know that someone has left their terminal unattended by posting a message proclaiming that they wear baggy pants.

When you leave your computer logged into to some session (email, chat room, etc) and step away from your computer without locking your screen, someone who notices this is allowed to sneak up and email or message anyone pretending to be you. Typically they will create a long, silly message (possibly admitting how you have always been a homosexual or something of that nature) and at the end put something about how you have "baggy pants."

a discovered second moon