I know how to say it, but I'm not exactly sure how to spell it. I'm pretty sure that's correct. Now to the meaning: Lo que sea means "Whatever." You can use it in a variety of ways.
1. "Boricua,cubano,negro! Lo que sea, ya tu sabes!" Pitbull (rapper) is saying, Puerto Ricans, Cubans, Blacks, whatever, you know! (From the song What You Gon' Do (Latino Remix))
An extremely hip teacher who salutes his subordinates with an x to mark his core values of supply and demand.
*AFO turns around with low by flo rida playing in the background*
Hey yo! How's shit going in economics Lo Flo Rida
Don't speak to me inferior geography student, going back to you're little cave and learn about mountains until you're ready to absorb the awesomeness of supply and demand.