That’s the English version, not the translation. As you noted, the German lyrics were ‘heavier’.
Ninety-nine ministers of war
Matches and gasoline cans
They regarded themselves as clever people
Already on the scent of fat booty
They shouted “War” and wanted power
That sure beats the hell out of:
99 Decision Street, 99 ministers meet
To worry, worry, super-scurry
Call out the troops now in a hurry
This is what we’ve waited for
This is it, boys, this is war
It’s simple. Metaphoric. It’s poetic. It creates an image of action without verbs.
“Worry worry super scurry”, on the other hand? Gah! A song for six-year-olds.
I haven’t heard the English language version in like 30 years, and had to look up the EL lyrics, but I can still sing along in German, even if my ability to translate has faded over the years.
Luft is air in General. It does not imply Floating, because Luftballon is also what it’s called when you buy the balloons in a package, and it’s up to you how you fill them.
But it refers to the balloons being filled with air, not being in the air.
A Heissluftballon is a hot air balloon - that would definitly float, but without Helium.