Squid are indeed usually damp in their natural environment; but the popular British expression describing a less than spectacular explosion is a “damp squib” (soggy firecracker).
How A Congress-Sanctioned Tax Credit Rescued Q1 Earnings A 25-year-old research-and-development tax credit that was extended by Congress - following its expiration at the end of 2011 - lifted profits for many firms in the S&P 500 by over 10% . While top-line revenue growth was a damp squib, earnings grew a more robust 6.7% thanks, as the WSJ notes , in large part to this tax-credit's 'accounting' gains. This stock-market-saving tax-gimmick, however ...
June 14, 2013 - Zero Hedge