What does the Spanish word mortal mean when used as slang? Does it have a positive or negative connotation towards the thing being described?
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In informal conversation, it's roughly equivalent to 'terrific', as in very good, awesome
meaning that it was really good, that I enjoyed it very much.
It can also mean "extremely funny" in Spain.
In Spain, and as far as I understand, it has a powerful negative connotation. For example:
However, and as it sometimes happens with other words, it may as well be used with exactly the opposite meaning. I haven't ever heard it that way, though. Wheat I have heard, as @Laura points out, is de muerte meaning "extremely good" or "awesome":