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it's like shuffling deck chairs on the titanic 

Actually means: actions taken solely for the feeling (or the appearance) of doing something about an unavoidable situation; actions that not only accomplish nothing but *blatantly* accomplish nothing.
"Oh, look, now GM is trying to fire Wagoner. It's like shuffling deck chairs on the Titanic."

it's like shuffling deck chairs on the titanic 

A phrase used to describe a situation that is:

a) almost near impossible
b) awkward/tricky
c) difficult

Stemming from the movie, Titanic, where shuffling deck chairs on the sinking ship would have been tricky.
Teacher: I'm trying to get my students to quieten down...it's like shuffling deck chairs on the titanic.

shuffleing the deck 

a slang word meaning masturbation

to shuffle the deck: to masturbate
Guy 1:man Lindsey Lohan is so hot
Guy 2: tell me about it,i was shuffleing the deck to her all last night
shuffleing the deck by ianmcphee January 19, 2006

shuffleing the deck 

In theory it is possible that whilst 'shuffling' a deck of cards, that the cards could be set into certain favourable positions; this expression is based upon such a premise.

Said when there is a suspicion that an outcome has been obtained in a prearranged fashion, usually by a specific person, directly involved.
Bob was an expert at shuffleing the deck; he got the two hot chicks on his team, again!

comment: Hey bro, the NZ Labour party managed to get elected again in 2008 for a 4th term with their infamous tax rebate.
response: shuffleing the deck man