i ) A half erect penis.
ii) Something that is useless
iii) Something that appears to be on its way to being useful, but isn't
iv) Something that possesses all the drawbacks, and none of the advantages of a given phenomenon
Steve : Did you get a raise at work ?
Dave : Yes, but only $2,000
Steve : That's like $50 a paycheck after taxes
Dave : It's about as useful as a half hard dick.
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