If you find yourself within earshot of this particularly insidious utterance, you can count on the fact that “it” is most assuredly not “all good.” You’ve probably heard this used by some happy-go-lucky jerk-off who is either completely clueless as to the severity of the situation, or is simply unable to come up with any substantial words of reassurance. On the surface it may seem as if this person is offering genuinely optimistic, kind-hearted words but the insertion of a hyperbolic “all” into the phrase just draws attention to the fact that something is definitely wrong.
“Oh right, Todd, ‘it’s all good’ is it? Yeah, except for the fact that you just spilled a pint of blue-flavored Mad Dog all over the fucking hand-knit wool scarf my great aunt Edna made for me. Clumsy shit. You can’t just fix this in three words.”