The Good Shepherd sure knows how to party. And then I'm going to start a fight with five men and win. And then I am going to make use of a truly staggering number of prostitutes. Some of whom I may have once been married to. Following which, I will buy drugs. I will, in fact, show them a large pillowcase, and tell them to fill it with drugs. And I'm putting it all on the goddamn expense account.
A typical way to show that some characters have fallen into decadence is to show them being highly promiscuous and doing lots of drugs. Sometimes this can even lead to a character's downfall if the protagonist , or outright death if a villain or supporting character.
This became an especially popular thing in The '80s because other displays of excessive wealth were considered a good thing even Fur and Loathing didn't signify decadence all the time. The term is common slang for what some politicians, celebrities, and Corrupt Corporate Executives like to have at parties.
Wine, women, and song is an older, related term. A Binge Montage is a common way to portray a night like this. In Naruto Jiraiya takes Naruto's money, claiming he wants to protect Naruto from this trope.
Naruto later finds him in a bar, drunk off his ass and entertaining two prostitutes. This is an especially jarring example because Jiraiya is actually a very wealthy man, yet he stole Naruto's money to fund his vices and Naruto is very poor.
