interjection. This indicates that Nostradamus, his prophesies, and the horse he rode in on are all full of horse-hooey.
Related terms: fancy schmancy, Dracula schmacula, robot schmobot, orgasm schmorgasm, monkey schmonkey, God schmod, evil schmevil, holy schmoly, boob schmoob, poop schmoop, wimp schmimp, penis schmenis, research schmesearch, Buffy schmuffy, Bush schmush, penguin schmenguin, Jesus schmesus, vagina schmagina, Bono schmono, beef club schmeef club, chicken schmicken, salad schmalad, pope schmope, demon schmemon, semen schmemen, constitution schmonstitution, butt schmutt, ass schmass, bishop schmishop, bucket schmucket, floozy schmoozy, sex schmex, passion schmassion, diddly schmiddly, moron schmoron, naked schmaked, nude schmude, pimp schmimp, nipple schmipple, Mississippi schmississippi, crap schmap, weirdo schmeirdo, testicles schmesticles, rutabaga schmutabaga.
Real citation: "Nostradamus Schmostradamus, if he can't warn me about that friggin' 'Zoom Zoom Zoom' kid in the Mazda ads who needs any part of him?"
(Max Burbank, "The Midriff Prophesies," http://www.i-mockery.com/visionary/midriff.php)
Made-up citation: "Nostradamus schmostradamus! I could make better prophesies out of some goat's blood, my ear wax, and a TV Guide."