Google (not) Owning The Rights To Things You Type

There is a bit of the Google Chrome EULA flying about the Internet and people are jumping to the conclusion that Google OWNS anything you type into the browser however that isn't the case, when read carefully, as I now understand thanks the commentors on this Gizmodo post. Check out that post to see what I'm talking about. The comment that really cleared things up for me was this one (by user yogibimbi):

The operative words here are 'non-exclusive' and the not marked expression 'You retain copyright ...', meaning that the user grants Google the right to use all his stuff for whatever funky purposes from the list they reckon they like to be using with it while retaining (sic) ownership.
And since it says in the end '...on and through the services' that looks to me more like they want to save their arses in case somebody realizes that his or her original works reside on Google's servers and every time he or she is accessing it, Google is actually reproducing it, albeit to the (supposedly) rightful owner, which some smart lawyers/leeches might construe to be a breach of copyright.
So, it is rather in tribute to the flaky American judicial system that they made this up, my guess. Nice that you point us to what we usually check and forget about, Adam, but this whistle might have been blown a bit too strongly, specifically since you imply that the user waive their copyrights, which is definitely not the case. Google wants to use, not own.

Thanks to that user I can sleep at night and STILL use Chrome as my browser.