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Difference between Blue heavens and Blue skies

blue heavens—(Drug users) blue capsules or tablets containing barbiturate:

  • Amobarbital tablets and capsules are called “blue birds,” “blue devils,” or “blue heavens.”

blue skies —(also: blue sky)

1. said of impractical or unfeasible plans and ideas:

  • The research amounted to a “blue skies” project because it involved going beyond the present capacity of the reactor design.

2. (U.S. stock market) is used of fake or worthless bonds and stocks:

  • They were what I would term “blue sky and hot air” securities.