Python installation messed up
You are using multiple versions of Python simultaneously - one from Python.org (2.7.3), located in /Library/Frameworks/Python.framework/Versions/2.7/, which does not have an installation of pip associated with it, and another version from HomeBrew (2.7.5), located in /usr/local/Cellar/python/2.7.5/Frameworks/Python.framework/Versions/2.7/. Your pip script is using the /usr/local/... Python, which doesn't have the time module available for some reason, but when you just type python on the command line, the shell searches through your $PATH and runs the version in /Library/Frameworks/.... If you were to type /usr/local/bin/python on the command line and enter import time you will likely get an error. The time module is part of the Python standard library, so I'm not sure why homebrew isn't finding it - you might want to re-brew python to fix it.

To always run the homebrew version of python (if that's what you want your primary version to be), just put /usr/local/bin as the first entry in your $PATH variable.