A variation of the phrase "what the fuck" which is used to show shock or anger. This variation is mainly used among military groups because it gives the recipient of the remark the effect that he has been reached over a two wayradio.
If we knew what was going on, we wouldn't be asking this question. But what is really going on, is you are questioning wether you know what is going on or not.
Looking at the "WHITE PEOPLE ARE CRAZY" Twitter page. What the fuck is going on?
A blind kid is playing football, what the fuck is going on?