I seen an interesting documentary on UFO phenomena, one on crop circles too.. they were just on. They had funny "balls of light" that flew around and seemed very alien, but really it was just the sun reflecting off of dust, birds, plastic bags, etc. A lot of the unexplained phenomena have real simple solutions if you think about it.
In that video, that ball of light that appeared in the air is most likely something similar, sun reflecting off something in a certain way, or maybe even an experimental aircraft.
To think that an alien species that is so advanced to make these "flying saucers" and such could be so foolish to be plainly seen by many people while trying to stay hidden seems to defy logic. If they had such technology, why do so many farmer Johns rush in every week with a new story? The alien abduction stories are the worst though... it seems like it's real trauma to the person sometimes...
They also made a good point that other cultures that are not fascinated by aliens and such rarely if ever see anything like people claim to over here, and pretty much every case reported over here has remarkable similarities to movies and stories made here... coincidence? I think not.