The Hidden Agendas posted a fascinating piece awhile back that talked about the symbolism of the hourglass. The Hourglass has been commonly used in comics almost since their conception.
Gold is falling, but when it bottoms out Richie will buy it up and flip that hourglass.
Degaton is a time travelling villian from 1947, who at the end of every one of his schemes ends up as a lab technician back in his own time. In this one, it looks like he is controlling the "time" of the Justice Society, as they look on in horror.
Here, the Sandman and Sandy (worst sidekick name ever, I would expect more for a Kirby creation) are showing the bad guys their time is up.
Chronos is another time hoping hourglass wielding villain. He goes from era to era, searching for a time where his costume will be considered cool.
After reading this one, Benjamin Fulford came up with a brilliant idea on how to fight the Illuminati.
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