jQuery & modernizr placeholder text fallback

gistfile1.js

// placeholder text fallback
if(!Modernizr.input.placeholder){
  $('input').not('.placeholder-fallback-inited').each(function() {
    var $this = $(this);
    $this.val( $this.attr('placeholder') );
    $this.addClass('placeholder-fallback-inited');
  })
  .focus(function(){
    var $this = $(this);
    if( $this.val() == $this.attr('placeholder') ){
      $this.val('');
    }
  })
  .blur(function(){
    var $this = $(this);
    if( $this.val() == '' ){
      $this.val( $this.attr('placeholder') );
    }
  });
}