Ok, here goes, Shalex...
It's horrible if/when your child starts behaving like this. It's upsetting of course, but also rather frightening. You may be directly afraid for yourself, afraid for younger siblings, afraid of what the future will hold for your child if they can't control themselves, and afraid you are losing control. All of these fears are real, so they can throw you into a real panic.
We all of us know that we don't handle situations well when we're frightened, angry and panicked. That's one of the reasons you'll find experienced parents advising you to 'detach, detach, detach' from your teenager's bad behaviour. You have to learn not to take it personally... Despite how it feels, it isn't personal - it's biological - and if you realise this, it becomes less upsetting, and you'll be able to deal with it better.
A good tactic is to treat your DS like he is an 'annoying lodger'. This was Maryz's advice to me and others a couple of years ago; and though I often wasn't good at it, when I managed it, it worked.
By that 'rule of thumb', with hindsight, do you think you were right to call the police? It's impossible for any of the rest of us to tell, because we weren't there. :) I always tried to be clear in my head that I would only call them for 'criminal' behaviour - in circumstances where I would have called the police if it had been an 'annoying lodger' or stranger, not my own son. So, when I have been hurt, or afraid for my safety, or afraid my son was so out of control that he might not otherwise stop.
I would also strongly advise that you only call the police if you are actually prepared for them to arrest him. Because this will have to be the next step, won't it?
You need to think about stopping him stealing, too. My DS used to react like this, stealing when he was desperate for a smoke or scared because he owed someone money for drugs, then getting angry when challenged... You could prosecute your DS of course; but I did not want my son to get a criminal record for theft because of how it would affect his job prospects, so I felt very powerless at first - until I finally realised it was relatively easy to stop him, by fitting a lock on my bedroom door, always keeping things locked up, and therefore removing his opportunities.
There are lots more things I could say about why I think teens behave like this, and how you survive it. If you do a search for my name + 'police' and/or 'look after yourself', you will find previous posts, if you're interested. :)
Good luck.