A resigned expression of disappointment at the outcome of a situation, generally one which is unfair or discriminatory.
Popularised by CeeLo Green's 2010 song "Fuck You"
If I was richer, I'd still be with ya. Now ain't that some shit?
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Irony. When something is definatly, "Some shit"
Ron: Donny, are you still going out with annie?
Donny: Nah, I found out she was a dude.
Ron: Ain't that some shit..
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