Next to me has the siding ripped off, the chimney tossed on the lawn here and as you make your way across the street, weve seen so many homes just like this that had their roofs completely torn off. And i want you to take a look at some video that had the hardest hit areas. The city leaders are calling it a catastrophe. 450 homes damages, 100 homes considered a total loss but nobody in this neighborhood was killed. Thank god is all you can say. Theres no other way to put it. Its the grace of god. I dont care who you are, what you believe, what faith you believe, its the grace of god. Residents also giving a lot of credit to the sirens in the area as this tornado ripped through this area with winds of 170 and 180 miles per hour. Now, like i mentioned, no fatalities here but in nearby garland, eight People Killed when their cars were tossed off of an overpass in this tornado. One woman was a mother of four and she was on the phone with her husband when the tornado hit. She started screaming. And the call disconnected. And i tried to call her back, i tried to call her back, and i couldnt. I just felt like something inside of me died, you know . Like something a part of me died. Just a gutwrenching loss, neil. 11 People Killed here in north texas this past saturday. Neil thank you very much, right now on the phone with me former fema director, in these circumstances you always step back and realize whatever people were complaining about during the holidays, i think they put it in perspective after events like these. But it comes at a time when fema is urgently in need with more money the president advocating about a billion dollars more for the fema budget, is female is ready for what some are saying could be a serious amount of storms that will require a lot of money . Well, understood, neil, and youre right on target. But theres what happens generally in these disaster particularly like this thats so devastating, and you saw the damage you just showed on your show just its just awful. But congress always reallocating money back into fema, should they start should the Disaster Relief fund start getting low. It has happened time and time again, but i have no doubt at all that fema will have the funds to make sure the people who need help will get it. People need to step back and, you know, take a deep breath and i know its been devastating. But we get more injuries generally after the storm than we do during the storm. People are tired, they get chainsaws and generators and people get hurt. So they need to be careful. Take pictures before you move anything. Call your Insurance Company and get registered with fema. Fema will have people on the ground to help you register, you can do it online, you can do it on the phone. So they can help you with those under certain losses. But the money will be there. Should fema need to replenish the Disaster Relief fund. Neil one thing unexpected developments after a storm, flooding comes to mind. Nearly after of the victims drown, including five soldiers in missouri alone. What precautions do you need to take in that event when its the storm after the storm that hits you . Yeah, most of the time we see people trying to drive through moving water. And cars cant handle that. They just simply get washed away and people drown or get stranded. They need to listen to the weather reports if they say theres going to be flash flooding, you know, stay in your home, go to higher ground. But dont go out in the moving water. And we do see it time and time again, neil, where people just arent thinking clearly. Theres a lot of stuff going on, theyre trying to get things done, and they just need to stay off the road and stay home. Neil you know, one of the things we learned certainly in the dallas area these horns and sirens did give people adequate warning of the storms to come. Very severe tornado that was en route. Do you find in the communities that have such warnings that that damage is at least limited beyond what it could have been . It was obviously devastating and the loss of life, 11 in that area horrific. But it could have been a lot worse without it. Absolutely. Absolutely. It doesnt really what it does is protect peoples lives where they have time to seek shelter in a basement or in a shelter area or some place where its safe. Now, you saw some of the homes just totally devastated and unless you had a basement, theres not a lot you could have done for that. Now, im a Firm Believer in these Severe Weather storms, it gives people an opportunity to seek safe shelter. Neil it does indeed. David, thank you very, very much. Janet steam on what this area can look forward to now because once hit, theyre about to get hit again, arent they . Unfortunately, the Severe Threat continues, neil, for parts of the gulf coast. We have tornado watch in parts of alabama, the Florida Panhandle in towards georgia as these storms continue to move eastward. We have watches in effect right now, meaning the conditions are favorable for tornadoes and several tornadoworn storms now for the Florida Panhandle up into alabama. So were tries to go strong notation on doppler radar, listen to your local forecast and know what to do if you have a warning in your area. This storm really has been on going for a week now. Bringing blizzard conditions, ice, as well as the threat for Severe Weather. So as we get into the evening hours, again, this area shaded in yellow for Florida Panhandle and up towards alabama and tennessee, you need to be on alert for severe storms. Your flood advisories. This is something he need to talk about over a dozen states now flash flood watches and warnings. This area is saturated, meaning no water can get into the lakes or streams or ground. It is run off and therefore we have flash flooding occurring around the st. Louis area, high water rescues are taking place. The winter storm part of this anywhere from 12 inches to 18 inches of snow, and we saw historic snow across portions of west texas into new mexico. Winter storm warnings for the central u. S. As well as now parts of the northeast because thats where the storm is moving next. You could see anywhere from six to 12 even 18 inches of snow if you live across the upper midwest and the great lakes and then as it kneads new england and in some cases your first snowfall of the season. Your ice. I want to touch on the fact that you get freezing rain in toward michigan are where you could see a quarter of an inch to half of an inch of ice, you cannot travel so people are urged to stay alert of your local weather watches and warnings and of course call ahead. A lot of flights have been canceled today. Over 1,000. So thats going to be on going as we head into tuesday. Lets take a look at your future radar, neil. The low in the upper midwest there, there is the trailing cold front so the potential cold weather as it moves eastward and the storm itself moving northward bringing snow to new england, by wednesday and thursday well be dealing with much quieter conditions but until then, look at the temperature difference. 82 in tampa, 71 in atlanta, very cold air behind this and thats one of the reasons were seeing the Severe Threat or have been seeing the Severe Threat and we have the clash of the air masses and the devastation is incredible, especially for the month of december when a lot of people are thinking why are there tornadoes in december . It does happen but this is a very different, interesting storm for this time of year. Neil to put it mildly. Janet steam, thank you very, very much. A wide swap area in chicago today theyre dealing with freezing rain and snow in the windy city concurrently. How is that for crazy . How is that for closing out a year . 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Later on, well conspire as we dream by the fire a beautiful sight, were happy tonight watching in a winter watchlist land, watching in a winter watchlist land xfinitys winter watchlist. Watch now with xfinity on demand your home for the best entertainment this Holiday Season. Neil you know, it is hard to believe last year at this time donald trump was not anywhere in any poll by anyone mostly because people didnt see him running for president but the factor that possibly even if he did, he wouldnt go very far. That is then, this is now, hes the dominant politician of our times, how long that stays the case, anyones guess. But i imagine dr. Larry some news on that. Larry, good to have you. Thank you, neil,. Charles you know, its interesting because here we are going into the president ial Election Year where donald trump is on top with everyone here and the Republican Party but the conventional politicians within that party, he will damage the brand and will almost guarantee a democratic victory. Do you agree with that . Well, there is a direct and deep split. Youre absolutely right between the base, which fundamentally likes outsiders this year. They like trump and carson and fiorina and all the other outsiders. Well just put them in a big category. And they dislike the normal brand the normalbrand candidates the wons that would have won in 2004 or 2008 or 2012. So very clearly something has happened or a series of things have happened to separate the base to separate the base from the establishment. Neil now, normally that anger of the base is shortlived or even those entertaining a candidate who would be outside the pee tree dish sort of resort and go back to the mean of saying, well, we want to get stuff done. These crazy french candidates, whatever you want to call it, they cant get it done. But were not at that point yet. Does that surprise you . No. Because the voting hasnt started. Too many people are drawing conclusions too early. The curtain has not even lifted on the stage. Yes, weve had a bunch of debates. Yes, weve had a million polls. But the votes are what mattered and the votes start on february 11th. Neil you know, i guess what i was saying no, youre absolutely right. I guess what i was saying polls in the Republican Party, for example, three out of four of them depending on the poll show enthusiasm for outside the box candidates. Not just one love affair with a distant candidate like a donald trump or ben carson or ted cruz. I know is senator but not your typical senator. But if you add that support up all together, it is overwhelmingly for nontransitional candidates. What do you make of that . Well, what i make of it is this. The Republican Base is angry at the Republican Leadership because the promises made in 2010 when the gop took over the house in 2014 when the gop took over the senate, those promises were not met. At least in the view of the base. They were told that if they elected a republican congress, that congress would be able to undo and stop much of what president obama had done and of course under our system its not really possible and sure enough they havent been able to do it. Charles do you ever get a feeling that this anger in washington and inability, for example, among republicans that even with alcohol of house and the senate, theyre still not getting it done and you and i its not as easy as having it your way. But republicans are going to fracture severely over this issue that losing an election might otherwise seem winnable. Well, i let go that far. I think were headed for a highly competitive election. I know right now the republicans look to be doing themselves in. But that has been the case a number of elections when they won. Its also been the case for democrats and a number of elections when they won. So you have to think about what the general election will look like. You have to remember this is an incumbent white houses parties attempt for a third consecutive term, which is really difficult to get. And frankly while the republican nominee may, may end up being a tough sell, the democratic nominee will may very well be a tough sell too. Im thinking of Hillary Clinton being the likely nominee or even if its bernie sanders. Hell be a tough sell. Neil real quickly on this whole trump phenomenon. The argument against him being the republican nominee is he would turn off latino voters, turn off women voters, he counters, yeah, look at all the new voters i brought in. People who never voted republican, never voted at all who are now with me, and they dwarf whatever these establishment guys fear the party might be losing. Does he have a point that he is gaining more for republicans than he is losing . Well, were not to the general election yet. Well see how that voter calculus works out. Ill tell you what does help him or any republican nominee is polarization. The partisan polarization. This is not the goldwater situation. You know, goldwater got 38 of the vote. The difference is any republican, any republican is going to get in the upper 40s. Automatically all right . And its a question of whether that nominee can end up winning the two, three, four percent additional necessary to win. The independents, the swing voters, and there arent that many of them left, but theyre the ones who determine often the results of these elections. Neil but if there are more out there who have never voted who were not appreciating the magnitude of that potential. Well, look, yes, there are millions and millions of conservatives, for example, who didnt vote in 2008 and 2012, and i hear this all the time. Well, theyll be so excited and energized that theyre all going to turn up in the polls. Heres the problem with that. In American History believe me. Its a question of mobilization creating counter mobilization on the other side. You dont simply have millions of new voters on one side turning up and the other side produces none of them. You always have both sides in an energized election producing some additional millions. And so thats what i would encourage people to think about. Its never just one side. Neil all right, larry, thank you very, very much. Just a reminder. Were a little more than a couple of weeks away from the next president ial debate. It will be fox business turn the second time weve been happy to host and get that honor. The first big president ial debate of the new year, and we are there in charleston, south carolina. We hope you can join us for that. More after this neil you know, i think it started with t mobile but now verizon is getting into the act to give you 650 to switch from another carrier to go to verizon. Theyve all been going back and forth to unlock you from contracts that you might find onerous. It has worked out well for tmobile but certainly not isographs as tmobile verizon the big boy in this when it comes to dedicated iphone customers and the like now entertaining that as well. 650 bucks if you switch from another carrier to them, and they hope you do. All right. Well, im never switching. My allegiance to gary when it comes to interpreting volatile markets. Hes been right on the money and even when he hasnt, hes given me an explanation that is so dumbfounding im convinced im wrong and hes right. Goodness to you and happy new year, my friend. Good to see you. Neil the market has been sliding away, we have a couple of days left but it is looking like its going to be clawing and scratches to eke out a positive year on the dow. Not so much the nasdaq but certainly the dow, which would be the first down year since 2008. If that happens, what does that mean . Well, first off the good news after a bunch of years doing so well to have maybe a year thats just down a little bit is not such a bad thing. The bad news is i really do believe i think the dow and some other areas are really masking a lot of damage that has been done underneath the surface, and i hate to say this, neil, but this really reminds me the action were seeing right now of 07. It reminds me a little bit of 99, 00 and 72, 73 before that bad market. Neil so wait, wait, wait, youre saying this is preview to not so great coming attractions. That is what im thinking, sir. And let me just say this. Already, you know, because the headline is always the dow, s p. The russell 2,000 is down 14 to 15 to the highs and today is where it was 26 months ago. The transports are down 26 . Hasnt moved in two years. Same for the nysc. So underlying the amazons and the googles and the facebooks, theres a lot of damage done and all of my awork studying the history in every top of the market, it seems this ones getting close, and i would not be surprised in january the major embassies, the popular ones top out and what is a stealth bear market becomes more widely known, unfortunately. Neil you know, the one thing that this markets been pretty good at doing is climbing unless wall of worry. Defying the skeptics and the doubters. Right. Neil and youre quite right to say underneath the surface we have a bear market and many of these stocks a good third of them in the s p 500 what others argue, well, thats whats going to be the case. Well have a lot and that will be a bear market territory but not the averages themselves. Can you have that long of disconnect . Because if you did, it would be breaking a lot of records. Unfortunately, i have never seen have where the markets like this and the rest of the market does not come down. And just remember another big point now, neil. We have not had a bear market in seven years because of all the central bank intervention. Time is also not on the side of the market either. And thats what i think another issue is. Besides i can get into the fundamentals and talk about sales growth is heading down. Earnings growth is heading down and the massive debt thats been built up around the globe that doesnt get talked about unless you talk about it. So i do think there