Save yourself a schizophrenic episode and use the Advanced Python scheduler:
http://pythonhosted.org/APScheduler
The code is so simple:
from apscheduler.scheduler import Scheduler
sched = Scheduler()
sched.start()
def some_job():
print "Every 10 seconds"
sched.add_interval_job(some_job, seconds = 10)
....
sched.shutdown()
