Generally speaking: a derogatory term for someone who's just a plain idiot. However, sometimes your bros on the inner-circle can be fucksacks, and thus, a term of endearment.
Negative use (derogatory): "Look at this fucksack! He just cut me off!"
Positive use (endearing): "Whattup Fucksack! How have you been muthaf-- I haven't seen you in ages!"
Also note: If you want to refer to someone as a fucksack but you want to keep it clean... (i.e.: a work environment) you can substitute for other words that begin with with F and S.
For example: "Here comes Freddy Sanchez", or "Look at this Flying Saucer over here", or "I still can't believe that Full Screen cut me off!". ... you get my drift.
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