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Nemo's dream (or nightmare, really) demonstrates why children should go to sleep instead of staying up to see Santa Claus: One, because you'll become covered in frozen icicles, and two, because apparently even if he knows you live there, if he doesn't see you he won't leave you any gifts.
Please disregard the turn of the century racist stereotype in the penultimate panel. I love Winsor McCay, but he was a product of his time.