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1.
When the need for a shit is essential
" Hey many brb i need to go lay the Titanic2"
by SoccerPia April 29, 2012
 
2.
Used to decribe a situation similar to that during the sinking of the Titanic. Can also be used as Titanic Too, though that sounds even stupider.

When it's really cold, when something goes horribly wrong, when something unexpected happens, etc.
It's like Titanic 2 in here!
by Lalalala! May 07, 2006