Remember the old adage that says hemlines fall when the economy’s bad?

Well, it’s a bunch of bunk.

How else does one explain the proliferation of miniskirts (barely) covering the bums of Dow-shocked New Yorkers?

Not that this is a bad thing.

After seasons of knee-length ladylike skirts and hippie-fied maxis, a skirt brief enough to show off great gams seems just right.

Plus, a long expanse of leg is the perfect canvas for this season’s fabulous selection of textured hose, super-sexy boots and – yikes! – leg warmers.

Chanel tweed “leg warmer” boots, $1,135 at Saks Fifth Avenue. Stockings, $10 at the Sock Man.

Over-the-knee Stephane Kelian boots, $525 at Saks Fifth Avenue. Stockings, $10 at the Sock Man.

Rampage “sneaker” shoes with kitten heel, $40 at Bloomingdale’s.Rose-colored leg warmers, $30 at KD Dance. Stockings, $10 at the Sock Man.

Fornarina’s blue ribbed leather boots with buckle, about $108 at Bloomingdale’s. Wolford “Alaska” tights, $75.

DKNY gray maryjanes, about $115 at Macy’s. Gerbe’s brown crochet tights, $42 at Le Corset by Selima.

Via Spiga’s wine patent leather boots, about $160 at Macy’s. H&M pants with drawstring hem, $35.

Throughout: H&M’s charcoal flannel belted mini-dress, $35.

– Styled by Signe Yberg

STORES:

Bloomingdale’s: 1000 Third Ave., at 59th Street; (212) 705-2000.

H&M : 640 Fifth Ave., near 51st Street; (212) 489-0390.

KD Dance: 339 Lafayette St., near Bleecker Street; (212) 533-2506.

Le Corset by Selima: 80 Thompson St., near Spring Street; (212) 334-4936.

Macy’s: 151 W. 34th St., between Sixth and Seventh avenues; (212) 695-4400.

Saks Fifth Avenue: 611 Fifth Ave., near 49th Street; (212) 753-4000.

The Sock Man: 27 St. Mark’s Place, near Second Avenue; (212) 529-0300.

Wolford: 619 Madison Ave., near 58th Street; (212) 688-4850.