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/Sounds like "ehs" (as in "egg") + "TAHR" (as in "tar") + "EHN" (as in "egg") + "LAH" (as in "lava") + "LOH" (as in "loan") + "nah" (as in "nacho")/

Meaning

To be broke or in a really bad financial spot, flat on the canvas like a knocked-out boxer. The image comes from boxing: the person on the canvas has gone down and is not sure they can get back up. Used across Latin America for hitting economic rock bottom.

Examples

Después de ese negocio que salió fatal me quedé en la lona una buena temporada.

After that deal went south I was completely broke for a good while.

Estamos en la lona hasta que nos paguen el proyecto.

We are flat broke until they pay us for the project.

To wander the streets without a fixed destination, just to see what is happening or pass the time. In Colombia and Venezuela, callear is the go-to activity when you have no specific plan but staying home is simply not an option.