Weltschmerz

welt·schmerz (vělt'shměrts') n. Sadness over the evils of the world, especially as an expression of romantic pessimism. [German : Welt, world + Schmerz, pain (from Middle High German smërze, from Old High German smerzo).]

"The modern meaning of Weltschmerz in the German language is the psychological pain caused by sadness, that can occur when realizing that someone's own weaknesses are caused by the inappropriateness and cruelty of the world and (physical and social) circumstances."

Usage:
"With his 2007 Babylon column, [Jerry] Saltz effectively ran up the white flag of surrender and joined in the Weltschmerz of the moment, the GawkerForum-ization of the present."
~ Tyler Green, "Modern Art Notes" blog