Perl, 99 81 75 51 4040 36 bytes
while(sleep(print scalar gmtime,"\n")){};do$0
sleep printf"%02d:%02d:%02d\n",(gmtime)[2,1,0];do$0
{($s,$n,$h)=localtime(time);printf"%02d:%02d:%02d\n",$h,$m,$s;sleep 1;redo}
while(1){my($s,$n,$h)=localtime(time);printf"%02d:%02d:%02d\n",$h,$m,$s;sleep(1)}
while(1){my($s,$n,$h,$x,$x,$x,$x,$x,$x)=localtime(time);printf"%02d:%02d:%02d\n",$h,$m,$s;sleep(1)}