Six O'Clock in the morning You're the last to hear the warning You've been trying to throw your arms around the world You've been falling off the sidewalk Your lips move but you can't talk Tryin' To Throw Your Arms Around The World
No, it's less to do with "time" (though still relevant) more to do with the reason for the gesture...
Don't try to hard to think, it's quite easy. There's one reason he is making that gesture, and it's not to tell the time.
