Change Mouse Cursor for whole page?

Do it at the CSS level:

* {
   cursor: pointer;
}

doing it in jquery forces it to iterate every single node in the dom and rewrite its css classes. On a long document, that's a huge waste of time.

try this

$('body').addClass('grabbing');

OR

$(document).addClass('grabbing');

//EDITED ANSWER

$('body').mousedown(function(e){
    $(this).css({'cursor':'pointer'});
}).mouseup(function(e){
    $(this).css({'cursor':'auto'});
});

If you firebug is on, you can see the changes in body style tag. But some how it's not working. You can take it as a reference and try similar approach the get solution.