Would you give your house keys to a stranger?
If you put you money in the hands of another person and ask them to look after it there would have to be an enormous amount of trust between you. 'Here's my life savings mate keep an eye on it will you as he makes his way to the pub. Never happen would it!'
With the Cloud, you give stuff to an organisation you've never met, and yet you are trusting them with something extremely precious.
Six months down the line they unilaterally change the small print and demand more money, you can't negotiate it so you are either cut off or you pay up.
Worse still, they go bust or even worse than that, the USA claims they support pirated sites, close it down and confiscate the servers for evidence.
You'd never give your house keys, car keys, money, shares, wife, girlfriend or children to someone you have never met before or who you bump into in the street and say look after this, would you?