Thing is, problem does not lie in the movie, but in translation. In all Serbian (Yugoslavian) movies core of the dialogue lies in phrases, common to the region, which can be successfully translated only to some extent. Example, if you tried to translate some stand-up comedy to ANY language, nobody would understand it. The same is with movies.
Next thing is the social factor, westerners simply can not understand comedy that is set in days of communism. The whole setting is hilarious only to the people who, unfortunately, lived it.
If you watch movie carefully and read title, you will see that people are talking much more than it is actually translated. That is the part where you "lose" the movie. Subtitles are no substitution for living tongue.
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