As of 22.30 GMT, on May 18th 2011, YouTube servers seem to be experiencing some server issues that is causing the “502 Server Error” to pop up! As of now I have been able to verify that the North Americas has been affected. If there are more regions affected please let me know! I will update this post as time goes on!
Update 1: Brazil and UK seem to be experiencing the problem too!! (thank you Cícero & Gary Spurway)
Update 2: As of 23.00 GMT, YouTube still seems to be kicking the bucket!!
Update 3: As of 23.10 GMT, YouTube seems to be back in action people!! so now we can stop living our real lives and go back to staring at movies the whole day and waste some really good productive time hehehehehehehehe!! cheers!!