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/Sounds like "LOH" (as in "loan") + "koh" (as in "coat")/

Meaning

An informal way to address a friend or acquaintance in Argentina, Chile, and Peru. It's used constantly between friends no matter the situation, from casual chats to heated arguments.

Examples

Come on, loco, let's go, we're gonna be late.

What's up, loco? Haven't seen you in ages.

Anonymous

To be completely wiped out, physically or emotionally destroyed. In Spain, "hecho polvo" describes an exhaustion so total there's nothing left: it applies equally to running a marathon and to receiving devastating news.