"Jim Grant is a smart man,not one to be argued with unless you want your head handed to you."
Voila, because Mr. Jim Grant is perceived as being a smart man, whatever he says MUST be true.
I don't really know what these guys learned at school, but whatever they did it certainly did not assist them in learning how to think. They cannot even detect a fallacious argument when it lets off a pungent odor to fallacy.
