IGBABS

It's
Gonna
Be
A
Bit
S**t

From Al Murray's "The Pub Landlord", for whenever the London 2012 Olympics is mentioned.

Past Tense - IWABS (It Was A Bit S**t).
Present Tense - IABS (It's A Bit S**t).

"So, what do you think of the 2012 Olympics hype?"
"IGBABS, really"

by The Bie October 19, 2012