This is a compound word, composed of acronyms FML (Fuck my life) and LOL (
laugh out loud). This term is used to express the utter
retardedness of one's life, when not even FML will suffice in conveying how terrible it is. This is to say, one's life sucks so bad the only thing left to do is just to laugh hysterically at the pure
ridiculousness and hopelessness of the situation.