A reply given to
someone who wishes for
something because a part of their life is unfair, basically stating that life is full of good and bad things. In
essence, wishes mean nothing.
This is the earliest version of the saying, with the reference to Germans eating shit coming from American soldiers in WWII.
You know what they say Ted: Wish in
one hand, shit in the other, and see which hand the
German guy eats out of.