why isn't command expansion deferred?? (stupid question probably)

[Mark Galeck (CW)]

Hello,  the manual says, that commands are always expanded deferred.  OK, I 
have this makefile

foobar:
                touch foobar
                echo $(wildcard foobar)

Then why is this:

C:\Temp>del foobar

C:\Temp>make foobar
touch foobar
echo
ECHO is off. 

I was expecting it would echo foobar!  How do I make $(wildcard...) evaluate 
when it is being called from a command?

Mark