A waking nightmare, is where your actual life becomes worse than your dreams and your dreams become something of a refuge, where you can escape reality and forget. But when you wake up, you remember how shit life is for you at the moment in reality and that it was just a dream where you were happy. You'll know that you have a waking nightmare if you sometimes cry when you wake up as a result of the happiness difference between your dream and your life.
Guy 1: "I'm living a waking nightmare right now man"
Guy 2: " I don't care "