This Phrase, used by downtown Oakville, Ontario teenagers means simply:
Haggard - Completely wasted. Wasted can describe, being high or drunk.
Ass - A fun word to stick in the middle.
Bitch - Replaces the name of the person who is "Haggard."
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.