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/Sounds like "KOHN" (as in "coat") + "EHL" (as in "egg") + "AH" (as in "art") + "gwah" (as in "Guam") + "AHL" (as in "art") + "KWEH" (as in "quest") + "yoh" (as in "yoke")/

Meaning

In a very critical situation, right on the edge of disaster. When you have water up to your neck, one more thing could sink you completely. The equivalent of "in over your head" or "drowning in problems."

Examples

He has been drowning in debt for months and sees no way out.

We are in deep trouble. We need to solve this right now.

Feeling down, low-energy, or emotionally deflated. Common in Argentina, Chile, Uruguay, and Spain to describe a mild but real emotional slump: not a clinical state, just someone who clearly is not at their best right now and needs some time or a bit of cheering up.