Based on the Yiddish word verkakte. It can mean dirty, shitty, full of crap, or screwed-up.
"There was a time when a black man was killed for whistleing at a white woman, OJ killed a white woman and gets to whistle all day. Now that's fakakte."

From The Daily Show
by DualSin September 23, 2007
Get the FAKAKTE mug.