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1.
At the intersection of shit happening and humorous turn of unwelcome events lies the shizaster. Derived from the Greeko-Roman root 'shit' and Latin 'disaster', shizaster is a term commonly employed as a happy medium between the long-winded 'shit just happened' and an overstated description of the event as a 'disaster'. Used by soccer moms, presidents, and entertainers alike, shizaster reflects and describes the nature of the unfortunate event with toyota-prius-like efficiency and syllable footprint that is both ecofriendly and deserving of admiration and awe from those unfamiliar with the term.
Entertainment:

From Michael Vicks attorney to Michael Vick "Mike, if you even so much as give a dirty look to a puppy on a street corner, we will have a major PR shizaster on our hands."

Politics:

Sarah Palin "Who would have thought that Bristol getting knocked up would turn my campaing into a complete shizaster"

Housekeeping:

From wife to husband: "Edward, your careless and disorganized ways will turn this home into the same shizaster you have going on in our garage"

Parenting:

From father to son: "Bobby, if you mention anything to your mother about daddy's lady-friend visitor today, mommy will turn this marriage into a shizaster"

Nurtition:

From mother to son: "Bobby you know what our healthcare system says: An apple a day keeps a financial shizaster away. It will also prevent you from turning into a fat-fuck adulterer like your father."
by The Russian Bear September 15, 2009
 
2.
A complete and utter "shitty" disaster. A disaster that stretches the meaning of the word disaster beyond it being able to describe and event; thing; point in time.
That was a shizaster; she was a complete shizaster presenting her case; he looks like a shizaster (very diverse).
by CaliforniaMatt August 03, 2008