The correct spelling of the phrase "were loser" is actually "we're losers". In IPA phonetic transcription, it is pronounced as /wɪər luːzərz/. The contraction "we're" is used to mean "we are," which is an important grammatical rule to remember. The incorrect spelling of the phrase is a common mistake, which can be avoided by remembering the proper contraction. Proper spelling and grammar are crucial in communication and should be given utmost importance.