OK,I now have the correct time for my gnome desktop. But only it's in the 24 hour format.
Nevermind. Duh, I just adjusted the preferences to 12 hour format in gnome.
Ok,so now its fixed.
I believe it was the hwclock --hctosys command that fixed it.
I don't know why periodically this happens. But, it always stumps me for some reason.