It stands for “I’ll be gone, you’ll be gone.”
I have been thinking about this in the context of the Occupy Wall Street protests. The people who the OWS gang are protesting against pretty much used “IBG YBG” and their motto. Big companies (which always just keep going) love that IBG YBG attitude. Except for them, they emphasize the YBG means they’ll just ignore you until you go away. Then, you see IBG is more about YBG.
In the mortgage industry, loans were made to borrowers who had no chance in hell of paying back. To yet others, (many others), who were unlikely to pay back if the value of their property was cut in half. The attitude was not seeing the lending as part of a long-running relationship, but as pushing a crappy deal, full well knowing that the dealings of the parties would be entirely different three or five years down the road.
Someone else is brought up to clean up the mess. The people who have been made victims in the transaction are finger-wagged into silence for their own gullibility, stupidity–or what grates the most, because of their trust.
The Tokyo, Japan-side expat community was very much an IBGYBG-type place. Big cities traditionally are. Some more, some less. I highly doubt that the group of foreigners who were there in 2005 are even 25% there in 2011.
“Any bullshit excuse will do.” “IBG YBG!”
I am an IBH, YBBR-type person. (I’ll be here. You better be ready.) I don’t think I could ever fit the IBG YBG-type mentality.