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A slang adjective for a glob of snot from one's nose as it bares resemblance to Ausssie brand Clag glue.
Someone would say "I'm just getting over my cold and I have been blowing clags and clags of snot out of my nose all day"
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the ladder-guy friend of a girl you are attracted to who constantly hangs around her, proceeding to cock block you every chance he gets.
he sticks to her like fucking clag, what a cock block.
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The muck and crud which accumulates in a communal shower.
Those showers at the Saint Imier camp site were knee deep in clag.
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the fat ugly green women in Grand Theft Auto Vice City
quick shoot that group of clags over there
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According to Andrew Clavel "credit clag" are those assets that look like shit on your books, so you have to flush them into an SIV, and then when the public discovers your "credit clag", you have to wipe your ass clearly off the 'record books', and buy back your own shit at thirty cents on the dollar and then recycle it to the next fool!.
According to "the Penny King", "clag is anything put out by the Octodragon to give us the illusion of value. When banks run out of things to hold onto as collateral, including your own signature as a promise to repay, they have to begin inventing new illusions to use as collateral, like deeds to property that doesn't really have borders other than those illusory ones in the figments of the bankers and lawyers imaginations. Anyone that sells you anything for more than a penny is trading in 'clag', so said the Penny King in Los Angeles County on December 23rd, 2007.
From about 2000-2008 many investment banks purchase credit default protection from each other allowing them to get a lot of credit clag off the books allegedly in order to improve reported numbers for the period.
In 2008 under adverse default conditions the biggest banks with the worst net exposures all go bust, their sold protection is worthless and it triggers the collapse and disappearance of more than $50 trillion in illusory liquidity in the global financial markets.
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Unidentifiable substance, usually of a secreted, bodily fluid type nature. Australian version of "shmegma".
Dude, I've gotta change my shirt...I just noticed that there's clag all over it.
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A collective and generalised term describing the "ladies" remaining in a nightclub at closing time that will go home with just about anybody. Believed to be of Lancastrian origin, possibly Bolton.
C'mon then, grab some clag and lets get off home.
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