When a request or problem is described, this phrase is used to tell the person that what they need or are requesting is simply not possible/available and probably won't be in the near future. An "urban" variation of "out of luck".
Jill: I'd like to borrow your bike so that I can go down to the grocery store.
Jack: Sorry Jane, its got a flat, you're shit out of luck.
A term that defines a personal activity hard-boundary; beyond which, the probability of catastrophic outcome prohibits further participation.
Hey, let's see how many times we can just run across the fucking road with our eyes closed...
You first Bro. I wanna see what happens when you run Out of Luck.
This is a variation on the more time honored "shit out of luck". It is an even more adamant reference to the fact that the person being addressed is in a bad position with no obvious or readily available resolution. The phrase also has a very succinct internal rhyme and is therefore preferred by the more poetic users of 'colorful metaphors'.
Jill: Can I borrow your bike to go down to the grocery store? I need to get some feminine products RIGHT NOW!
Jack: Sorry, my bike was abducted by aliens, you're fuck out of luck!
A meaningless, unimpressive, self-serving introduction. An indicator that the story about to be shared will be pointless and dumb.
Back when I lived in upstate new york, I also had to park on the street - on two occasions, we got enough snow, mixed with just the right plowing, that my car was lifted off the ground from so much snow being jammed underneath it.
Sister: This meeting was to discuss the rough draft of my essay, where we discussed the subsidiary questions I added in my rough draft. We also discussed the relationship between my main title and the real-life situations I chose to use in my essay. We discussed the structure of my essay as well, specifically the Math AOK section and how it relates to the contradiction of the title. This second meeting was particularly helpful in discussing the implications of my essay claims and how to apply the title across various areas of knowledge. There were many sections of the essay that could have been cut down in wordiness and the ways of knowing required further and more in-depth analysis.