Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.
13:47 Sep 23, 2007
English to German translations [PRO] Art/Literary - Investment / Securities / Marktbericht/ Investmentfonds/ Zitat von Aldous Huxley
English term or phrase:delicious intoxication
Kennt jemand die genaue Übersetzung dieses Zitats bzw. wie würdet ihr hier "delicious intoxication" übersetzen?
Aldous Huxley’s comment on scientific progress in the 1930s could equally apply to credit markets today: ***‘We are living now not in the delicious intoxication induced by the early successes … but in a rather grisly morning after.’***
Until this summer, financial engineering had been booming, with all manner of corporate and asset-backed loans being successfully packaged into sophisticated (and, crucially, seemingly less risky) products known by esoteric acronyms and abbreviations. When investors panic – as they did in July following a rise in default rates on ‘subprime’ US mortgages – the complexity of these products becomes their downfall: because they are opaque, their true value is difficult to gauge, and the ***‘delicious intoxication’*** with them disappears overnight.