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Difference between Blue sky and Sky blue

blue sky —(also: blue skies)

1. said of impractical or unfeasible plans and ideas:

  • The rocket was dismissed as just another bluesky project when the concept was unveiled.

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.

sky bluea deep somewhat purplish blue color:

  • The flag on one side of the building was sky blue; the one on the other side was the somewhat darker shade…