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You're so messed up it’s like your brain took a hit from a drunk kid in a candy store. It can also mean you're stupid, dead, or just plain ignorant. It's like when you say 'I'm dead' after someone tells a joke so bad it hurts.
'I just ate a whole pizza and now I'm dae-daed.'
'He said the same thing five times. I'm dae-daed.'
'I thought I was smart, but now I'm dae-daed.'