Wolib stands for: Waste of life inconsiderate bastard. Refers to people who generally show no consideration for others and have not provided a future for themselves in anyway. They are likely to die before the age of 35 and often originate from the New Jersey area.

Pronounced as wol-i-b.
Other spellings include: Woliby

It’s an acronym standing for Can’t Remember A Fucking Thing. It’s usually used to describe embarrassment at being unable to remember someone (CRAFT moment); going onstage as the lead in the latest theatrical performance and your mind goes completely blank (CRAFT situation); the next morning after a night when you got pissed as a fart and woke up in bed cuddling a traffic cone and a string of fairy lights wound round your prick.