A place that you do not want to be in. Dumps probably refers to
trash heaps in this saying. It's a
vile place, somewhere where no one wants to be, usually referring to an
uncontrollable bout of depression.
Alleviation comes through porn, masturbation, writing, math problems, and other such things that manage to get your mind off of the problems in your life. After all, the world is what you make of it.