jQuery ทำงานเป็น Loop ให้ทำงานซ้ำ ๆ ใน function ยังไงครับ

<ul>
    <li>foo</li>
    <li>bar</li>
</ul>

$('li').each(function(index) {
    alert(index + ': ' + $(this).text());
});

// set timeout
var tid = setTimeout(mycode, 2000);
function mycode() {
  // do some stuff...
  tid = setTimeout(mycode, 2000); // repeat myself
}
function abortTimer() { // to be called when you want to stop the timer
  clearTimeout(tid);
}

// set interval
var tid = setInterval(mycode, 2000);
function mycode() {
  // do some stuff...
  // no need to recall the function (it's an interval, it'll loop forever)
}
function abortTimer() { // to be called when you want to stop the timer
  clearInterval(tid);
}