I don't doubt, given the size of the universe, that life exists elsewhere--somewhere. It seems virtually a mathematical certainty that given the vastness of the universe, the infinitesimally rare conditions that support life must exist in a few other places; it seems far less likely that Earth is somehow unique.
But that same math dictates that we are very unlikely to ever see a UFO or meet an extra-terrestrial. Aliens would face the same logistical challenges to coming here as we would to going there--that the distances to be traveled are so amazingly vast that they constitute a virtually unbreakable barrier to long-distance space travel.
So--I can imagine extraterrestrial life somewhere else in the Universe. Intelligent extraterrestrial life I'm less sure of, but I could at least imagine it. Intelligent extraterrestrials coming here and taking mini-tours of earth and posing for grainy photographs? Highly unlikely.
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