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1.
when something is the shit

it's really cool
Damn, that food was the shiznetz, i got depressed when i shat it out
by Genni June 21, 2006
 
2.
shiznetz n. pl. 1. consecutive stupidities. 2. a series of idiotic events.

also sheznetz
Once the shiznetz started they never stopped.
by ooijj May 13, 2007