"Nothing particularly ungrammatical about that sentence."
Sentence fragment? Perhaps. I disagree, however; there is an implied "There is" in front, which you've merely left off as redundant. Of course, I just did the same thing.
I'm not actually an expert, so I reserve the right to be wrong.
Meantime, I believe your flamelord's example of "you know" should properly been put in quotes, like I did here.