When things are screwed up beyond repair or when no matter what you do, you get screwed.
(derived from Italian "va fa coule" which in slang is pronounced as fongool)
I can't believe what's happening at work, it's so fongooliated. Everybody is being layed off.
The original phrase is Va' a fare in culo, often shortened to vaffanculo, or just fanculo. This literally means “go do it in the ass” and is similar to the English phrase fuck you.