Economist Craig Simmons last night urged voters not to be fooled by politicians who claim they’ve got all the answers to the Island’s economic woes.The Bermuda College lecturer said political leaders are not very good at beating the market, but he warned the public: “They will try to convince you that they are.”Mr Simmons said he’s sceptical of anyone making out they knew a Great Recession was heading for Bermuda and berating Government for not preparing accordingly, a common theme from One Bermuda Alliance politicians in recent months.He also had sympathy for young people who have grown impatient with the Progressive Labour Party due to the Island’s increasing unemployment and debt problems.He called on all residents to let their politicians know they are concerned about the economy and will judge them accordingly at the next general election.Mr Simmons was reacting to the latest Mindmaps poll, which shows 83 percent of people are concerned about the direction Bermuda’s economy is heading, while 49 percent believe the economy is the top issue facing the Island.Forty-two percent of people said the OBA is the party best able to bring about economic recovery, with 22 percent saying the PLP, two percent the United Bermuda Party and 34 percent not sure.Responding to the figures yesterday, Mr Simmons said: “With an election looming, politicians are vying for your vote.“The economy will arguably be the single most talked about topic. Exploiting ignorance is a favoured stratagem of snake-oil salesmen and politicians.“I’m sceptical of experts who claim to have known the Great Recession was imminent. Perhaps some experts thought a recession was imminent, but that’s not the same as knowing.“The world is a complicated place: it’s simply not possible to know what’s going on.“We use superstition and correlations to explain events after the fact and to create premonitions. For example, there are many explanations of why Google became a success; but nobody knows if Facebook will be a success.“Given Bermuda’s deep integration into the global economy, it was literally impossible to prepare for the Great Recession. The Irish Government, for example, amassed a fiscal war chest equal to nine months of its current account spending. Despite this, the Irish recession is deeper and will likely last longer than our own.”Mr Simmons said there’s an inordinate amount of luck to Bermuda’s economic success, which has been achieved thanks in great part to hurricane Andrew in 1992, 9/11 and hurricanes Katrina and Rita of 2005.“The Premier or the ruling party has little influence,” he said. “In this sense, political leaders are a lot like financial advisers: they aren’t particularly good at picking winners or beating the market, but they will try to convince you that they are.”The Mindmaps poll asked residents to name the biggest issue facing the Island. The economy and unemployment came first with 49 percent, followed by crime on 26 percent and education on eight percent.Sixty percent of people in the 18 to 34 age bracket named the economy and unemployment as the Island’s main issue, more than any other age group.“Uncertainty about the economy may explain its level of importance to the 400 respondents,” said Mr Simmons.“And younger registered voters are arguably most affected by economic uncertainty.“Joblessness among the young is double that of any other demographic and this after many have incurred tens of thousands of dollars in debt pursuing post-secondary education.“It comes as no surprise that the young are growing impatient with the Government.”He said while recessions bring rising unemployment, foreclosures and bankruptcies, they also lead to improved physical health, a shift toward self-improvement and less expensive entertainments, fewer accidents, less congestion and a return to the principles of prudence and thrift.But he continued: “What makes this recession different is the total amount of private and public debt outstanding — about $6.4 billion or 110 percent of GDP.“Businesses, consumers and the Government will not be able to spend their way out of this recession without growth from new international businesses, or non-cruise ship tourist arrivals, or foreign investment.“If growth is part of the solution, then ask your politicians how they will aid and abet growth. They probably won’t have a good answer because the factors that promote growth are long-term.“Politicians only need to spin a story that gets them elected. And if balancing the Government’s books is a solution, then ask which public services should be cut or what are the plans for tax increases.“They probably won’t have a good answer for this one either: the debate between austerity and stimulus is complicated; it’s still evolving.“Confidence, like luck, is a fickle beast. Beware pronouncements from experts — they are no better than you are at knowing what’s best or what’s coming.“Slow down. Get rid of knee jerk answers to complicated questions. Use care and caution when thinking and discussing the economy.“And most importantly, let the politicians know you’re thinking in detail about the current problems and that you will judge them accordingly at the next election. I think that’s how democracy should work.”While younger people were more likely to name the economy as Bermuda’s biggest issue, the poll also showed people aged over 55 were the most concerned about the direction of the economy. Eighty-three percent of 45- to 54-year-olds gave the maximum score for their level of concern.Age Concern executive director Claudette Fleming said: “I don’t think that the finding is surprising.“Most retired persons have no means of creating new income which means that generally they would view a bad economy as something to be worried about.“In addition, in a bad economy taxes tend to rise because of lost tax revenue and social programmes tend to be scaled back.“Also, older adults who may be accustomed to providing support for family members may now find themselves relying on the same family members they once supported.“Perhaps signs of significant improvement in the economy might help to restore confidence, so long as those improvements have a direct financial impact on older adults themselves.”Reacting to the poll results, a PLP spokesman said: “Creating jobs for Bermudians is our top priority. It’s why we trained over 1,000 Bermudians for employment through job-ready programmes.“It’s why we’ve established a $500,000 scholarship fund to upgrade the skills of Bermudians. It’s why we passed legislation to provide immigration benefits for executives that create jobs for Bermudians. It’s why we are replacing housing in the west end that will provide 100 construction jobs.“And, it’s why we’re bringing the St Regis to Bermuda which will generate over 600 new jobs. The PLP will continue to invest in Bermuda and Bermudians so that we can build a better future for our people.“While we’ve taken action to bring jobs to Bermuda, all the Opposition offers is attacks.“They have no concrete plans except for abolishing term limits. The PLP will always be the party that puts Bermudians first as we continue to move Bermuda forward together.”The poll of 400 registered voters took place between May 2 and May 12 and has a margin of error of 4.9 percent.