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1. Somewhere/someone in great debt that is somehow still afloat.
2. The term for a social structure that cannot help the lower class.
Guy 1: why isn't the school buying us new equipment?
Guy 2: because we live in a schlatt society.
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Unbelievably successful businessman. Invented crypto currency and walking, also was part of the band known as 'Big Time Rush' where he was known as Logan.
'Schlatt is my favorite Big Time Rush member'
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The fucking sexiest man alive. His cock is monstrous and everyone wants a piece of that fucking unit of a ding dong. He also has some bumpin' balls and a sexy pair of mutton chops on his perfect sexy face.
person: hey, theres schlatt
schlatt: i hate fat people
me: impregnate my balls
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a schlatt is a guy who usually says shit on xbox live like "I fucked your mom kid"
person 1: hey, why did you leave the xbox party yesterday?
person 2: there was so many schlatts.
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