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Listens for events in the directory. Each created file is displayed on stdout. Then each fileline is read by the loop and a command is run.
This can be used to force permissions in a directory, as an alternative for umask.
Uses inotifywait from inotify-tools ( http://wiki.github.com/rvoicilas/inotify-tools/ ), that is compatible only with linux.
Usefull when you work with files that have to be compiled.. latex, haml, c..