1) Term used by teenagers that feel that thier family has cost them their childhood/future.
2) Often used by morons that have made mistake after mistake and refuse to take responsibility for their own actions.
3) Coined by some moron that saw that the phrase was 8 lettes long and therefore could be tattooed on each knuckle. (but not the thumbs)
Mike: God, your parents suck. I am 21... I mean 19 and I don't have a curfew.
Brenda: Yeah I know, I have such a lost fate!
Brenda: I am gonna get Lost Fate tattooed on my knuckles and then become a pharmacist.
Family: Can we say Lost Job!