Simple NMAKE file fails (1 echo command)

Question

I can't, for the life of me, figure out what I've done to my build environment. Even now, the simplest of make files fails me:

win32.mak:

ALL:
    echo test

command:

nmake -f win32.mak

output:

Microsoft (R) Program Maintenance Utility Version 11.00.51106.1
Copyright (C) Microsoft Corporation.  All rights reserved.

        echo Hey!
The system cannot find the path specified.
Hey!
NMAKE : fatal error U1077: 'echo' : return code '0x1'
Stop.

Does anyone have any ideas?

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Something that may be related (or not): Whenever I open up the Developer Command Prompt for VS2012, I'm greeted with two lines of "The system cannot find the path specified." This is relatively new.

Answer 1

Who knew the problem would be related to Ansicon:

I found the answer to my problem here.

I fixed it be uninstalling ansicon and reinstalling it from a more permanent location on disk.