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1.
A combination of "fake" and "angst", denoting, thus, "fankst" - used to describe poseur angst that currently runs rampant in popular media.

A good example would be the lyrics of Linkin Park or all the worrying that the rich kids on the shows of the WB engage in.
"Dude, you have nothing to be sad about, so knock off the fankst."
by John May 11, 2005